Launch of Share Buyback Programme

The Gym Group plc (the "Company"), leading low cost gym operator, is pleased to announce that it will commence a share buyback programme to purchase ordinary shares of £0.0001 each in the Company (the "Ordinary Shares") with an aggregate value of up to £10 million (the "Programme"). The Programme will therefore return up to £10 million to shareholders. The Programme will commence immediately today and shall continue until 31 December 2026, unless terminated or completed earlier.

The Company has entered into an irrevocable agreement (the "Agreement") with Peel Hunt LLP ("Peel Hunt") to undertake the Programme on the Company's behalf, with Peel Hunt making market purchases, as riskless principal, of the Ordinary Shares on the London Stock Exchange. Peel Hunt will make trading decisions under the Programme independently of the Company, subject to: (i) certain parameters agreed between Peel Hunt and the Company prior to the commencement of the Programme pursuant to the Agreement; and (ii) the Company's right to terminate the Agreement in certain customary circumstances. Any purchases of Ordinary Shares contemplated by this announcement will be subject to the terms of the Agreement.

Ordinary Shares acquired by Peel Hunt under the Agreement will be sold on to the Company and will be cancelled. The purpose of the Programme is to reduce the share capital of the Company and return capital to shareholders. The maximum number of Ordinary Shares that may be acquired under the Programme prior to the 2026 Annual General Meeting (the "2026 AGM"), as authorised by shareholders at the Company's 2025 AGM on 8 May 2025 (the "2025 Shareholder Authority"), is 17,930,710 Ordinary Shares. The 2025 Shareholder Authority will expire at the earlier of 30 June 2026 and the conclusion of the Company's 2026 AGM. Following the expiry of the 2025 Shareholder Authority, the continuation of the Programme will be conditional on the approval by shareholders of a resolution re-granting the directors' authority to purchase Ordinary Shares at the 2026 AGM (the "2026 Shareholder Authority") and any further purchases will be in accordance with the terms of such approval.

Any purchase of Ordinary Shares under the Programme will be executed in accordance with the Company's general authority to purchase Ordinary Shares pursuant to the 2025 Shareholder Authority and the 2026 Shareholder Authority, the assimilated UK Market Abuse Regulation 596/2014 and the assimilated Commission Delegated Regulation (EU) 2016/1052 (in each case as incorporated into the law of the United Kingdom by the European Union (Withdrawal) Act 2018 (as amended)), and Chapter 9 of the UK Financial Conduct Authority's UK Listing Rules (the "UK Listing Rules").

Any purchase of Ordinary Shares under the Programme will be announced by no later than 7.30 a.m. on the business day following the calendar day on which the relevant purchase occurred, or such other time as is then permitted under the UK Listing Rules.