Retail Offer

The Board of Maintel Holdings plc (the "Company") is pleased to announce a retail offer via BookBuild (the "Retail Offer") of new ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares"). Under the Retail Offer, up to 1,250,000 new Ordinary Shares (the "Retail Offer Shares") will be made available at a price of 80 pence per Retail Offer Share (the "Issue Price").

In addition to the Retail Offer, earlier today the Company announced a placing of new Ordinary Shares ("Placing") at the Issue Price and the issue of convertible loan notes ("Convertible Loan Notes") (together with the Placing and the Retail Offer, the "Fundraising"), pursuant to which it proposes to raise, subject to certain conditions, £5 million in aggregate (before expenses). Assuming full take up of the Retail Offer, the Fundraising will raise £6 million (before expenses). A separate announcement has been made regarding the Placing and issue of Convertible Loan Notes and their terms. For the avoidance of doubt, the Retail Offer is not part of the Placing or the issue of Convertible Loan Notes.

The Issue Price represents a discount of approximately 33.3% per cent to the closing share price of 120 pence per existing Ordinary Share on 12 May 2026.

The Retail Offer is conditional on, inter alia, (a) completion of the Refinancing (as defined below); (b) the passing of certain Resolutions by Shareholders at the General Meeting; and (c) the Retail Offer Shares being admitted to trading on the AIM market ("AIM") of the London Stock Exchange plc ("Admission"). It is anticipated that Admission will become effective and that dealings in the Retail Offer Shares will commence on AIM, at 8.00 a.m. on 2 June 2026.

The Placing, the Retail Offer and issue of Convertible Loan Notes, are conditional on, inter alia:

• the entry by the Company into a new facility agreement, or (ii) the refinancing of the Company's existing facilities agreement, in either case with one or more third party lenders which, on terms which, when combined with the cash raised pursuant to the Fundraising, are acceptable to the relevant third party lender(s) (the "Refinancing") and such Refinancing having become unconditional (save for any condition requiring Admission to have occurred); and
• the passing of the Fundraising Resolutions by Shareholders at the General Meeting.

The Placing and the issue of Convertible Loan Notes are not conditional upon the Retail Offer.

Full details of the Fundraising, including the background to, and reasons for the Placing, the issue of Convertible Loan Notes and the Retail Offer and the proposed use of funds received under the Fundraising, is included in a separate announcement released by the Company earlier today.

Expected Timetable in relation to the Retail Offer

Retail Offer

The Company values its retail shareholder base, which has supported the Company alongside institutional investors since IPO. Given the support of retail shareholders, the Company believes that it is appropriate to provide its retail shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available in the United Kingdom through the financial intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/W7LPL1/authorised-intermediaries

The Retail Offer will be open to eligible investors in the United Kingdom at 2:35pm on 13/05/2026. The Retail Offer is expected to close at 1:00pm on 29/05/2026. Investors should note that financial Intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.

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There is a minimum subscription of £200.00 per investor under the terms of the Retail Offer which is open to investors in the United Kingdom subscribing via the intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/W7LPL1/authorised-intermediaries

Capitalised terms used but not defined in this announcement have the meanings given to them in the Company's announcement released on 13 May 2026 in respect of the Fundraising unless the context provides otherwise.

Jonny Franklin-Adams / Seamus Fricker / Andrea Callaghan (Corporate Finance) Sunila de Silva (Corporate Broking)

The Company's LEI is 2138008TDMNV6ODDI497.

UK Product Governance Requirements

EU Product Governance Requirements