Pre Close Trading Update & Board Change

Pre Close Trading Update

& Board Change

Marks Electrical Group plc ("Marks Electrical" or "the Company" or "the Group"), the online electrical retailer, today announces an unscheduled trading update in respect of the full year to 31 March 2026 ("the year" or "FY26"). In addition, the Company is also pleased to announce the appointment of Tom Pallatt as Chief Financial Officer of the Group with effect from 1 April 2026.

• H2-FY26 Revenue has been robust, +4.7% on H1-FY26, following a good peak trading period and a resilient Q4-FY26. We expect FY26 Sales to be approximately £108.5m as a direct result of the business placing elevated focus on margin enhancing organic routes to market (FY25: £117.2m)
• With the increased focus on margin, further supported by a single co-ordinated programme of cost rationalisation and operational efficiencies across the business, FY26 adjusted EBITDA is now expected to be comfortably ahead of consensus and in excess of £2m
• Cash is expected to close in and around £3.5m-£4.0m reflecting strong working capital management particularly within inventory

Finally, we are delighted that Tom will be joining the Board as permanent Chief Financial Officer on 1 April 2026. Tom was at Ibstock Brick for 17 years, where he held senior finance roles including Group Financial Controller of Ibstock PLC, and is an ACA‑qualified chartered accountant. Since November 2025, Tom has served as Interim CFO of the Company, giving him direct exposure to the Group's operations, financial management and performance. He brings deep experience in financial governance, reporting and controls. Tom will be a member of the Audit and Risk Committee.

Mark Smithson, CEO of Marks Electrical commented:

"With the strong business that we have, with growing brand recognition, nationwide distribution and installation capability I am pleased that we are able to report adjusted EBITDA ahead of market expectations thanks to our disciplined focus on margin and operational cost management. We are finishing FY26 with good momentum and are well positioned heading into FY-27.

Despite the strong trading, we are cognisant of the ongoing CMA investigation. Marks Electrical remains committed to full compliance with all applicable consumer and competition laws, including the DMCCA. The Group has been proactively engaging with the CMA and continues to cooperate fully with the investigation. A further announcement will be made as appropriate."

Additional disclosures

As required under Schedule 2(g) of the AIM Rules for Companies, the Company confirms that Thomas William Pallatt (aged 48) has not been a director of any company within the past five years.