Commencement of Second Share Buyback

Hunting PLC (LSE: HTG), the precision engineering group, today announces the commencement of a second share buyback programme in respect of its ordinary shares of 25 pence each ("Ordinary Shares") for a maximum aggregate consideration of up to $40 million (the "Second Share Buyback Programme"). As indicated in the Company's announcement on 5 March 2026, this second programme follows the conclusion of the previous buyback.

The previous buyback programme, which commenced in August 2025 and was expanded in December 2025, has now completed with a total of $60 million worth of Ordinary Shares repurchased and cancelled.

The Second Share Buyback Programme has been launched today in consideration of the Group's continued cash generation and strong balance sheet. In addition, the launch of the Second Share Buyback Programme reflects the Directors' continued confidence in the prospects for the business.

Details of the Second Share Buyback Programme

The Second Share Buyback Programme is targeted to be completed by March 2028. Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors.

Hunting has entered into a non‑discretionary agreement (the "Agreement") with Canaccord Genuity Limited ("Canaccord") (the "Broker"), appointing Canaccord to purchase Ordinary Shares on behalf of the Company in respect of the Second Share Buyback Programme.

The Broker will act as riskless principal for the purposes of the Second Share Buyback Programme, with any purchases of Ordinary Shares to be implemented within certain pre‑set parameters on an irrevocable and non‑discretionary basis and subject to the terms of the Agreement. Purchases of Ordinary Shares will be made on the Company's behalf in accordance with the Agreement, with the Broker making its trading decisions concerning the purchases of Ordinary Shares independently of the Company.

Provided the Company is not in a closed period to which it is subject nor in possession of inside information (an "Open Period"), the Company may elect to suspend or terminate the Second Buyback Programme. If suspended or terminated, the Company may subsequently choose to reinstate the Second Share Buyback Programme provided that it is in an Open Period at that time. Purchases of Ordinary Shares will continue independently of, and uninfluenced by, the Company during any closed period to which the Company is subject and/or if the Company comes into possession of inside information.

The purpose of the Second Share Buyback Programme is to reduce the share capital of the Company. All Ordinary Shares purchased under the Second Share Buyback Programme will be cancelled.

The Broker will carry out its instructions by purchasing Ordinary Shares in the Company on the London Stock Exchange and/or other trading venues. Any purchases of Ordinary Shares by the Company will be made in accordance with (and subject to the existence of and/or the limits prescribed by) the general authority to purchase Ordinary Shares granted by its shareholders at the Company's Annual General Meeting on 16 April 2025, and any subsequent renewal of that authority granted at future Annual General Meetings. The maximum number of Ordinary Shares which the Company is authorised to purchase under the current authority is 24,724,518 Ordinary Shares. Of this authority, 11,475,645 Ordinary Shares have already been purchased under the previous buyback programme. The Directors intend to seek shareholder approval at the Company's 2026 Annual General Meeting to renew the Company's share buyback authorisation for an additional year.

The Second Share Buyback Programme will comply with UK Listing Rule 9.6 of the UK Financial Conduct Authority. It will also be conducted in accordance with the parameters of the safe harbour provisions set out in: (i) Article 5(1) of Regulation (EU) 596/2014 (including the delegated and implementing acts adopted under it); and (ii) the provisions of Commission Delegated Regulation (EU) 2016/1052 with regard to regulatory technical standards for the conditions applicable to buyback programmes and stabilisation measures, in each case as they form part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. There is no guarantee that the Second Share Buyback Programme will be implemented in full.

Hunting intends to announce any purchase of Ordinary Shares under the Second Share Buyback Programme on a weekly basis, and in any event by no later than the end of the seventh daily market session following the date of execution.