Half-year Results

InvestAcc Group Limited ("InvestAcc", the "Company" or, together with its subsidiaries, the "Group"), a leading UK specialist pension administrator, is pleased to present its unaudited results for the six month period to 30 June 2026 (“H1 26”). The Financial Statements are available to view and download from the Company's website: www.investaccgroup.com/investors/results

Group revenue increased by 130% to £13.8m (H1 2025: £6.0m), reflecting pension scheme growth, acquired revenues from the AJ Bell Platinum acquisition and treasury income. This translated into a marked improvement in profitability, with Group EBITDA up 274% to £4.9m and profit after tax of £1.5m (H1 2025: loss of £3.0m). The business also remained highly cash generative, with underlying operating cash flow of £5.7m in the period.

In addition, the first half of 2026 saw the Group continue to deliver against its key strategic priorities, completing the next phases of its Treasury Function programme, migrating SIPP customers onto a single platform, and embedding interest rate optimisation across its banking relationships. The period also saw the remaining consideration payable in respect of the Platinum acquisition fully settled, while new strategic distribution relationships were agreed to support future growth. Together, these developments strengthen the Group's platform and support the delivery of its long-term growth strategy.

Mark Hodges, Executive Chairman of InvestAcc Group, commented:

“The first half of 2026 has been a period of strong operational and financial performance. We delivered robust organic growth across the business and increased profitability while continuing to provide excellent service and outcomes for our customers.

During the period, we completed the next phase of our Treasury Function programme and settled the remaining consideration relating to the Platinum acquisition. These important milestones conclude two significant strategic initiatives and allow us to focus on maximising the benefits of the investments we have made over recent years.

We continue to see encouraging levels of demand across our product offering, with particularly strong momentum in our SIPP Lite proposition, while our acquisition and integration capabilities position us well to participate in the ongoing consolidation of the fragmented SIPP market.

Supported by a strengthened platform, a highly cash-generative business model and favourable market dynamics, we remain confident in the Group's outlook for the second half of the year and its ability to deliver long-term sustainable growth."

H1 2026 Financial Highlights

Group revenue increased 130% to £13.8m (H1 2025: £6.0m), reflecting strong organic growth of 56% and the successful delivery of the Group’s Treasury Function, alongside a £4.4m contribution from the AJ Bell Platinum acquisition

SIPP and SSAS scheme volumes increased 38% year-on-year to 19,251, comprising 14% organic growth (H1 2025: 22%) and c.3,300 schemes added from the Platinum acquisition

Pension scheme assets under administration grew to £10.6bn (H1 25: £5.8bn)

Group EBITDA growth of 274% to £4.9m (H1 2025: £1.3m)

Trading EBITDA growth of 140% to £6.8m (H1 2025: £2.8m), with Trading EBITDA margin of 48.9% (H1 25: 46.7%)

Operating profit improved to £2.1m (H1 2025: £3.1m loss)

Underlying operating cash flow of £5.7m, driven in part by H1 2026 being the first period to benefit fully from the cash flow contribution of the Platinum acquisition

*InvestAcc SIPP for last 12 months.

**InvestAcc SIPP and SSAS for last 12 months.

H1 26 Corporate Activity Highlights

The strategic Treasury capability has now been delivered, creating a scalable platform focused on optimising interest income, enhancing operational efficiency and supporting higher-quality earnings

Fully settled all consideration payable in respect of the Platinum Acquisition

Strong demand, with SIPP Lite generating approximately two-thirds of new business in H1 2026 and continued growth for Minerva SIPP

New strategic distribution relationships agreed to support organic growth

Continued investment in sales and marketing team

Client retention rate above 94%, reflecting continued focus on client outcomes

Outlook

With AJ Bell Platinum now integrated and all acquisition consideration settled, the Group has a strong platform from which to deliver both organic and acquisitive growth, underpinned by a robust pipeline of opportunities and continued investment in operational capabilities. Against this backdrop, the Group remains confident in its outlook for the second half of 2026.

The strategic priorities for H2 2026 remain consistent with previous guidance:

Continue to drive organic growth across core business lines – led by SIPP plan growth:

The SIPP and SSAS market remains attractive, driven by a fragmented provider landscape, increasing technology and regulatory requirements – including a significant new FCA consultation on scheme money and assets – and strong demand for flexible pension solutions. Demographic trends, including an ageing population, concentrated wealth and expected intergenerational wealth transfers, continue to support growth, while recent changes to Inheritance Tax rules, effective from April 2027, have begun to shift demand from Bespoke SIPPs and commercial property products towards Simple SIPPs.

InvestAcc continues to benefit from a flight to quality towards larger, well-capitalised providers. Organic growth is expected to be driven by strong sales from existing distribution partners, increasing volumes from recently established large-scale partners, and a continued focus on retention and service excellence. A strategic price review and favourable Treasury revenue tailwinds are expected to further support earnings quality, alongside targeted M&A opportunities as the Group pursues its ambition to become the UK’s leading specialist pensions administrator.

The Group is also closely monitoring the FCA's CP26/20 consultation, published in June 2026, which proposes a new Pension Scheme Money & Assets regime and enhanced due diligence requirements for SIPP operators. Final rules are expected in H1 2027, with full compliance required by 2029-30. The Group is supportive of the proposals and believes the associated compliance burden, which is likely to fall disproportionately on smaller providers, will accelerate consolidation across the sector. This is consistent with the FCA's expectation of a market comprising fewer, but stronger, operators. This is expected to further strengthen InvestAcc's position as a well-capitalised specialist consolidator.

Further enhancements to operations:

SSAS Platform — Building on the successful migration that unified SIPP customers onto a single platform, the Group is now focused on completing the migration of Platinum SSAS customers onto its common technology platform, further modernising SSAS administration to provide greater flexibility, faster processing, and improved service.

Technology and platform developments — Building on the progress made through the Treasury migration, AJ Bell Platinum systems integration and SSAS Pro upgrade, the Group will continue to invest in technology infrastructure, resilience and automation. This will support the development of its multi-year technology roadmap, helping to drive greater efficiency, scalability and service quality across the business.

Develop our people and capability:

Following continued investment during H1 2026, including the establishment of a dedicated change function to deliver key projects and further strengthening of operational and leadership capability at the Group's core operational site, total headcount grew 13% to 222 (December 2025: 196). The Group will build on this foundation in the second half of the year, with continued investment in its risk and compliance function and a particular focus on increasing the size and capability of its sales and distribution function to support the Group's organic growth ambitions.

Inorganic opportunities:

AJ Bell Platinum — With all acquisition consideration now fully settled and the business successfully integrated, the focus for H2 2026 is on the migration of Platinum SSAS customers onto InvestAcc's platform.

M&A — The Group remains optimistic about its M&A pipeline, with multiple ongoing discussions across specialist providers, life companies and platforms. A fragmented market and increasing pressures on smaller and non-core books continue to create attractive consolidation opportunities. The Group remains focused on delivering accretive acquisitions at 5-8x EBITDA, leveraging its proven integration capability to drive growth, operational efficiencies and strong financial returns.