Update on Fundraising - Receipt of Lender Consent

boohoo group plc (AIM:BOO), a leading online fashion group, is pleased to announce, further to the Company's "Result of oversubscribed Placing & Subscription" and "Retail Offer Result & Clawback Placing Information" announcements released at 07:00 a.m. on 14 November 2024 and 18 November 2024, respectively (the "Fundraising Announcements"), that it has received Lender Consent from its lenders under the Company's Facilities Agreement.

Following receipt of Lender Consent, the Fundraising remains conditional only on (i) the Placing Agreement not having been terminated and becoming unconditional, and (ii) Admission.

Admission

Application has been made to the London Stock Exchange for admission of 126,908,442 New Ordinary Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 26 November 2024.

Dan Finley, CEO of boohoo, said:

"Concluding the fundraising process and securing support from the banking syndicate is further evidence of the decisive steps that we have taken since announcing the business review. I now look forward to driving the business review forward and maximising value for all shareholders and the completion of this process gives us a great platform to do so."

Tim Morris, Chair of boohoo, said:

"I'd like to take this opportunity to thank our banking syndicate for their continued support. As a result of their backing, we now have a strong foundation from which to unlock and maximise shareholder value for all shareholders."

Capitalised terms used but not defined in this announcement have the meanings given to them in the Fundraising Announcements unless the context provides otherwise.