Launch of £50m Share Buyback Programme

Currys plc ("Currys" or the "Company") today announces that it will commence a share buyback programme of Currys' ordinary shares of 0.1p each (the "Ordinary Shares") up to a maximum consideration of £50m (the "Programme").

Further to our stated ambition to return surplus capital to shareholders through share buybacks, which was included in the Full Year results announcement in July 2025, and following the conclusion of the triennial pension review, the Board has concluded that an on-market share buyback programme for up to a maximum aggregate consideration of £50m is appropriate and a value-enhancing use of cash. The purpose of this buyback programme is to return surplus capital to shareholders and reduce the Group's share capital, whilst maintaining the financial flexibility to invest in ongoing operations. Any Ordinary Shares purchased will be cancelled.

Currys has entered into an agreement with Panmure Liberum, pursuant to which Panmure Liberum will purchase the Company's Ordinary Shares for up to a maximum consideration of £50m. The Programme will commence immediately, and it is anticipated it will end no later than 30 April 2026, subject to market conditions. For today's purchase, the maximum number of Ordinary Shares that can be purchased (always subject to the aggregate maximum consideration of £50m) is 113,349,465, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2024 Annual General Meeting (the "2024 AGM"). From 5 September onwards, when the Company's 2025 Annual General Meeting ("the 2025 AGM") authority is expected to come into effect, the maximum number of Ordinary Shares that can be purchased will remain at 113,349,465. Panmure Liberum will make its trading decisions in relation to the Ordinary Shares within the terms and pre-set parameters of the Programme.

Any purchase of Ordinary Shares under the Programme will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volumes. The Programme will be effected under the general authority to repurchase Ordinary Shares granted by the Company's shareholders at the 2024 AGM and expected to be granted at the 2025 AGM today, and in accordance with Chapter 9 of the UK Financial Conduct Authority's Listing Rules, and Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052 (both as they form part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018), including where relevant pursuant to the UK Market Abuse Regulation.

Any purchase of Ordinary Shares pursuant to the Programme will be announced by no later than 07:30 on the business day following the calendar day on which the purchase occurred. The Company will make further announcements in due course following the completion of any repurchases. There is no guarantee that the Programme will be implemented in full or that any Ordinary Shares will be repurchased by the Company.