Q3 2026 Results Announcement

PensionBee Group plc ('PensionBee' or the 'Company', together with its subsidiaries the 'Group'), a leading online retirement savings provider, today announces an unaudited trading update for the quarter ended 30 September 2026.

Summary ● Group Assets under Administration ('AUA') grew 29% year-on-year to £9.0bn (Q3 2025: £7.0bn), underpinned by Gross Inflows of £426m for the quarter (up 21%), Net Flows of £220m (up 9%) and supportive markets. The Value Retention Rate, which nets inflows from existing customers against their outflows, remained at approximately 100%. ● Group Invested Customer base grew 13% year-on-year to 337,000 (Q3 2025: 297,000), with 32,000 new Invested Customers onboarded year-to-date (YTD September 2025: 32,000) and UK Invested Customer Retention Rate remaining at >95%. ● Group Revenue for the third quarter increased by 31% year-on-year to £14.8m (Q3 2025: £11.3m). Group Revenue for the Last-Twelve-Months ('LTM') increased by 36% to £53.6m (LTM September 2025: £39.4m), with Annual Run Rate Revenue increasing by 26% to £58.6m (Q3 2025: £46.4m). ● PensionBee UK continued to scale profitably. UK LTM Adjusted EBITDA increased by 91% to £7.8m (LTM September 2025: £4.1m), representing a 14% UK LTM Adjusted EBITDA Margin (LTM September 2025: 10%). For the quarter, UK Adjusted EBITDA was £2.4m (Q3 2025: £2.4m). ● The Group was profitable on an LTM basis, with Group LTM Adjusted EBITDA of £2.4m (LTM September 2025: £0.1m) and a Group LTM Adjusted EBITDA Margin of 5% (LTM September 2025: 0%). This was driven by Revenue growth and operational leverage. Group Adjusted EBITDA was £1.1m for the quarter (Q3 2025: £1.3m). ● In the UK, PensionBee launched its 'Born to Retire' brand campaign and continued to attract older customers, contributing, together with market growth, to the average account size rising to £26,700, above the Company's guided range of £20,000 to £25,000. Productivity increased, supported by BeeBot, the Company's proprietary AI-powered customer service assistant, which now independently resolves >60% of its live chats. ● In the US, AUA grew to $5.8m (Q3 2025: $1.9m) on behalf of over 500 Invested Customers. The Company has 18 intermediaries in onboarding, completed its recordkeeper integration with T. Rowe Price and began onboarding its first Fortune 500 client. ● Group cash position was £30.6m as at September 2026 (September 2025: £33.3m).

Romi Savova, CEO of PensionBee, commented: "Growing Assets under Administration to a record £9bn marks another major milestone in PensionBee's journey, underlining our team's consistent strategic execution and the strength of our business model. We now serve 337,000 Invested Customers, with our customer-centric proposition continuing to appeal to the mass market. Our increased investment in growth drove Gross Inflows of £426m in the third quarter, while Group Revenue increased by 31% for the quarter to £15m, with Annual Run Rate Revenue approaching £60m. Our capabilities across technology, customer service and brand continue to deliver at scale, driving increased profitability in the UK and across the Group over the past year, with a UK LTM Adjusted EBITDA Margin of 14% achieved. Over the quarter, we made clear progress in both markets. In the UK, we launched our 'Born to Retire' campaign, bringing PensionBee to new audiences and further increasing brand visibility, while in the US our business-to-business channel converted its pipeline into new agreements, bringing us closer to our initial goal of $1bn in US AUA. As we advance our mission to build retirement confidence by modernising retirement savings and creating a better experience for everyday savers, we remain focused on achieving strong growth across the UK and US."

UK Business Highlights During the third quarter of 2026, PensionBee grew its Invested Customer base by 13% year-on-year, with 32,000 new Invested Customers onboarded year-to-date (YTD September 2025: 32,000). UK Revenue increased by 30% to £15.1m for the quarter (Q3 2025: £11.6m). On a Last-Twelve-Month basis, UK Adjusted EBITDA increased by 91% to £7.8m (LTM September 2025: £4.1m), with the UK LTM Adjusted EBITDA Margin reaching 14% (LTM September 2025: 10%). In line with its strategy, the UK continues to grow profitably, enabling the Company to reinvest in growth through increased marketing investment. PensionBee continued to prioritise growth, investing £4.4m in UK marketing during the quarter (Q3 2025: £2.6m), taking year-to-date expenditure to £13.8m, up 36% (YTD September 2025: £10.1m). 'Born to Retire', the Company's new brand campaign, launched during the quarter across connected TV, radio, out-of-home and digital channels. Together with the Channel 4 Weather and Saracens sponsorships, the campaign is reaching new audiences and increasing the Company's customer pipeline. In line with its customer acquisition strategy, the Company continued to attract older customers, with new customers averaging 40 years of age (Q3 2025: 39) bringing in higher average transfer values, supporting an increase in the average overall account size to £26,700, above the Company's guided range of £20,000 to £25,000. This contributed to a 21% increase in UK Gross Inflows to £425m for the quarter (Q3 2025: £351m) and £1.3bn year-to-date (YTD September 2025: £1.0bn). UK Cost per Invested Customer was £268 (Q3 2025: £250), reflecting the increased marketing investment during 2026. Cumulative UK marketing investment since inception was £90.2m. PensionBee's proprietary technology platform continues to drive operational efficiency through product innovation, process automation and operational discipline. During the quarter, BeeBot, the Company's AI-powered customer service assistant, independently resolved >60% of its live chat volume, up from >50% at Q2 end. BeeBot, alongside AI co-pilot capabilities embedded across the organisation, contributed to a 16% increase in productivity to 1,798 Invested Customers per staff member (Q3 2025: 1,555). The Company also completed the rollout of its refreshed user experience, with the iOS app launch, enhancing its technology and withdrawal features, while modernising the customer experience. The Company's commitment to industry-leading customer service is highlighted by its continued maintenance of a 4.6★ Trustpilot rating and an Invested Customer Retention Rate of >95%. Looking ahead, with the 'Born to Retire' campaign and the Channel 4 Weather sponsorship continuing to reach a wide audience, the Company will maintain its increased marketing investment, entering the final quarter with momentum, supported by a strong pipeline and a continued focus on older customers with higher average transfer-in values. Product development continues, with an enhanced retirement planner launching shortly to help customers plan for and manage life in retirement.

US Business Highlights During the third quarter of 2026, PensionBee's US business accelerated as it continued to execute its dual-channel strategy, signing new business-to-business clients and expanding its direct-to-consumer reach towards its initial goal of $1bn of US AUA. As at the end of the quarter, the Company had US AUA of $5.8m (Q3 2025: $1.9m) on behalf of over 500 Invested Customers. The Company invested £1.1m (Q3 2025: £1.3m) in marketing during the quarter, with expenditure substantially reimbursed through its long-term arrangement with State Street Investment Management ('State Street'). Business Offering Background PensionBee's market-leading IRA offering for employers is distributed primarily via advisor intermediaries and third-party administrators. PensionBee offers employers an IRA for former employees through the following services: ● Small balance (involuntary) rollovers: automatic rollovers for former 401(k) plan participants with balances <$7,000. ● Voluntary rollovers: rollovers for former 401(k) participants with balances >$7,000, where the employer requests PensionBee to market to these former participants. ● Plan terminations: closures of entire 401(k) plans, with all remaining participants transferring to PensionBee's Automatic Rollover IRA. Medium-term Goals and Progress Over the medium term, the Company is developing its footprint to support $1bn of annual recurring inflows from its business-to-business channel. At the end of the last quarter, the Company outlined its ambition to onboard 100 intermediary relationships over the medium term, with each relationship estimated to deliver c.$10m of annual recurring inflows at scale. As at the end of the third quarter, the Company had 18 intermediaries in varying stages of onboarding, with the majority of those having referred their first clients and being in the process of moving assets to PensionBee. The Company completed a new recordkeeper integration with T. Rowe Price, enabling intermediaries on that platform to select PensionBee's IRA services for their employer clients. This quarter, the Company also began onboarding its first Fortune 500 employer client. Direct-to-Consumer Offering During the quarter, PensionBee expanded its out-of-home campaign from New York and Chicago to seven metropolitan areas, continuing to build national brand awareness. The Company continued to focus on removing friction from the customer journey by building out its capabilities for finding lost accounts, streamlining its rollover process and introducing its enhanced retirement planning tool to a test audience. Customer engagement continues to build, with 21% of US customers having made a contribution to date, closely resembling the contribution rate in the UK business. Heading into the fourth quarter, the Company continues to progress its business-to-business channel and enhance the customer experience in its direct-to-consumer channel. The Company's capital position and strategic partnership with State Street support its ambition to build US AUA towards its initial goal of $1bn.

Group Financial Guidance Framework

The Company reiterates its existing guidance framework (which assumes relative market stability):

Revenue Objectives: PensionBee's ambition is to reach: ● >£100m of Group Revenue in the short to medium term (by year-end 2029). ● >£250m of Group Revenue in the longer term (by year-end 2034).

Profitability Objectives: PensionBee's ambition is to reach: ● c.20% Group Adjusted EBITDA Margin in the short to medium term (by year-end 2029). ● c.50% Group Adjusted EBITDA Margin in the longer term (by year-end 2034).

Financial Highlights For the 3 Month Period Ending Group Metrics (unless otherwise stated) Sep-2025 Sep-2026 2025-26 YoY Revenue (£m) 11.3 14.8 31% Of which UK Revenue (£m) 11.6 15.1 30% Of which US Revenue (£m) - - - Of which Intercompany Eliminations (£m) (0.3) (0.3) n/m Adjusted EBITDA (£m) 1.3 1.1 (19)% Adjusted EBITDA Margin (% of Revenue) 12% 7% (4)ppt UK Adjusted EBITDA (£m) 2.4 2.4 3% UK Adjusted EBITDA Margin (% of UK Revenue) 20% 16% (4)ppt US Adjusted EBITDA (£m) (1.0) (1.4) (30)% US Adjusted EBITDA Margin (% of US Revenue) n/a n/a n/a For the 12 Month Period Ending Group Metrics (unless otherwise stated) Sep-2025 Sep-2026 2025-26 YoY LTM Revenue (£m) 39.4 53.6 36% Of which UK LTM Revenue (£m) 40.9 55.2 35% Of which US LTM Revenue (£m) - - - Of which LTM Intercompany Eliminations (£m) (1.4) (1.5) n/m LTM Adjusted EBITDA (£m) 0.1 2.4 n/m Adjusted EBITDA Margin (% of Revenue) 0% 5% +4ppt UK LTM Adjusted EBITDA (£m) 4.1 7.8 91% UK Adjusted EBITDA Margin (% of UK Revenue) 10% 14% +4ppt US LTM Adjusted EBITDA (£m) (4.0) (5.4) (33)% US Adjusted EBITDA Margin (% of US Revenue) n/a n/a n/a Group Non-Financial Highlights As at Period End Group Metrics (unless otherwise stated) Sep-2025 Sep-2026 2025-26 YoY AUA (£m) 6,984 8,989 29% Invested Customers (thousands) 297 337 13% Invested Customer Retention Rate (% of IC) >95% >95% Stable at >95% UK Cost per Invested Customer (£) 250 268 As guided Revenue Margin (%) 0.64% 0.68% +3bps Annual Run Rate Revenue (£m) 46.4 58.6 26% For the 3 Month Period Ending Group Metrics (unless otherwise stated) Sep-2025 Sep-2026 2025-26 YoY Gross Inflows (£m) 351 426 21% Gross Outflows (£m) (150) (207) 37% Net Flows (£m) 201 220 9% For the 9 Month Period Ending Group Metrics (unless otherwise stated) Sep-2025 Sep-2026 2025-26 YoY Opening AUA (£m) 5,841 7,416 27% Gross Inflows (£m) 1,041 1,291 24% Gross Outflows (£m) (417) (579) 39% Net Flows (£m) 624 712 14% Market Growth and Other (£m) 519 861 66% Closing AUA (£m) 6,984 8,989 29% Net Flows (£m) 624 712 14% Of which Net Flows from New Customers (£m) 501 594 19% Of which Net Flows from Existing Customers (£m) 123 118 (4)%

A copy of this Q3 2026 Results Announcement will be made available for download post-market close on 21 October 2026 at: pensionbee.com/investor-relations . Enquiries

Press press@pensionbee.com +44 20 3557 8444 Analysts and Investors investor@pensionbee.com

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