AGM Statement

The Annual General Meeting ("AGM") of Nexteq plc (AIM: NXQ), a leading technology solutions provider to customers in selected industrial markets, will be held today at 10:00am at the Group's offices at The Galleria, Station Road, Crawley, RH10 1WW.

At the AGM, Nexteq Chair, Carol Thompson, will make the following statement:

"The Board remains confident in achieving 2025 full year market expectations1. Despite the global uncertainty relating to the introductions of tariffs, we have a strong track record managing our supply chain and we are working tirelessly with suppliers and customers to navigate any potential disruption that may arise.

"The Board is committed to the Group's three-year plan as presented at the Capital Markets Day in February 2025, including our plans to deliver meaningful organic growth through a renewed focus on innovation and a more diversified business model.

"Meanwhile, margin performance remains as expected, and our objective to refocus resources to deliver the three-year plan, as well as operational synergies, is progressing as planned.

"As has historically been the case, we have generated positive cashflow, additive to our healthy cash balances and debt free position. This provides a robust foundation to trade through the uncertainty and invest for the future. Our net cash position is $30.2m at 31st March 2025.

"The business is well positioned to deliver the objectives of the three-year plan, which includes the creation of innovative new software and hardware products and services across new sectors and geographies."

1 Current consensus is $85.5m revenue, $6.0m adjusted EBITDA and $3.6m adjusted PBT