AGM Statement

PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications, is pleased to provide the following update ahead of the Company's Annual General Meeting to be held at 11.00 a.m. today.

PCI Pal's growth momentum continues in a year where the Company is focused on delivery of another year of strong organic revenue growth whilst also achieving its first full year of adjusted profit. New business sales are ahead of the prior year, with several highlight enterprise customer wins now in deployment phase.

The Company continues to maximise the opportunity presented through its market leading partner eco-system and was therefore pleased to announce its new strategic partnership with Zoom on 13 November 2023. The new partnership will be at launch stage in early 2024 and is already contributing to the Group's sales pipeline.

The continued expansion of the Group's partner eco-system and customer base is a reflection of the appeal of PCI Pal's products and services. The year to date has seen continued progress on new product development with a number of new features and products nearing full general availability. This activity has included the Group's first customer sold and live using a new agent desktop user interface which also leverages new payment capabilities provided through the Company's technology partnership with Stripe.

The Board is looking forward to the Form of Order hearing concerning its recent resounding victory in its patent lawsuit with a competitor, Sycurio Limited. The hearing will be held on 18 December 2023. PCI Pal has lodged a number of witness statements with the court detailing the reasons why it should be awarded the maximum cost recovery given the strength of its victory in the UK. PCI Pal looks forward to presenting these in court. The Company will issue a further update following the hearing.