Secondary Placing of shares in The Gym Group plc

Blantyre Special Situations Fund I (the "Seller"), an institutional shareholder of The Gym Group plc (LSE: GYM), announces its intention to sell ordinary shares in The Gym Group plc (the "Shares"), representing approximately 5% of the company's issued share capital, through a secondary block trade (the "Transaction").

The Shares will be offered to institutional investors only via an accelerated bookbuild, which will commence immediately following this announcement. Rothschild & Co Redburn is acting as sole bookrunner in connection with the Transaction. Ocean Wall Ltd is acting as originator and corporate adviser.

The final terms of the Transaction, including pricing and allocation, will be determined at the close of the bookbuilding process and announced in due course.

This transaction is a secondary sale by the Seller only. The Gym Group plc is not a party to the Transaction and will not receive any proceeds.

Retail investors should contact their brokers who will be able to trade with Rothschild & Co Redburn directly on their behalf.

No action has been taken by the Seller, Rothschild & Co Redburn or any of their respective affiliates, or any person acting on its or their behalf that would permit an offer of the Placing Shares or possession or distribution of this Announcement or any other offering or publicity material relating to such Placing Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Seller and Rothschild & Co Redburn to inform themselves about, and to observe, such restrictions.

No prospectus, offering memorandum, offering document or admission document has been or will be made available in connection with the matters contained in this Announcement and no such prospectus is required (in accordance with Regulation (EU) No 2017/1129 (as amended) (the "EU Prospectus Regulation") or the EU Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation")) to be published. Persons needing advice should consult a qualified independent legal adviser, business adviser, financial adviser or tax adviser for legal, financial, business or tax advice.

The Placing has not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission in the United States or any US regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the Placing, or the accuracy or adequacy of this presentation. Any representation to the contrary is a criminal offence in the United States.

This Announcement has not been approved by the Financial Conduct Authority (the "FCA") or the London Stock Exchange.