Trading Update & Notice of Full Year Results

Personal Group Holdings Plc (AIM: PGH), the workforce benefits and insurance provider, is pleased to provide the following update for the financial year ended 31 December 2025 ("FY 2025") and confirms that the Company expects to publish its results for FY 2025, together with notification of its final dividend, on 24 March 2026.

Financial Highlights

*Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation of intangible assets, goodwill impairment, share-based payment expenses, profit or loss on disposal of subsidiaries,

corporate acquisition costs and restructuring costs.

** For the purpose of this announcement, the Company believes market expectations for FY 2025 to be Adjusted EBITDA of £11.6m.

Operational Highlights

Affordable Insurance

It was another strong year for new insurance sales, resulting in new annualised insurance sales growth of 11% to £15.4m (2024: £13.9m). API increased 12% to £40.5m as at 31 December 2025 (31 December 2024: £36.0m), supported by strong retention levels of over 80% year-on-year. Claims levels in the second half of the year fell slightly, as anticipated.

The Group's strong performance in insurance is testament to the growing demand for its offerings from enterprises seeking to support their employees' health and well-being. This is evidenced by the new client wins achieved in the period, which will provide the Group access to c.50,000 new employees during 2026. It also demonstrates the success of the Group's unique face-to-face sales model.

The Group made progress on growing its portfolio through innovation. The Digital Insurance offering was trialled with 17 customers, receiving positive feedback, and the Group Cash Plan is progressing well, with the first customers secured and a partnership with a major benefits provider in place.

Benefits & Reward

The year saw an increased uptake of the Group's digital benefits platform, comprising Hapi and Sage Employee Benefits, its SME-focused offering in partnership with Sage Group plc ("Sage"), resulting in ARR growing to £7.1m as at 31 December 2025 (31 December 2024: £6.7m). As previously announced, the Group renewed and expanded its partnership with Sage and saw the first new region, Ireland, go live in July 2025, as well as securing a new Small and Midsize Business (SMB) partner, EB Now, with the first 15 clients going live via that platform in H2 FY 2025.

The Group's Pay & Reward division continued its positive first half performance, with further new contract wins and the launch of its new SaaS platform, Pathfinder. As a result, ARR from its digital offerings increased 14% to £0.81m as at 31 December 2025 (31 December 2024: £0.71m).

Outlook

The Group is focused on sales execution, product innovation and expanding the addressable employee base through new customers and partnerships, in order to capture the significant growth opportunity ahead. The successful implementation of these initiatives will provide the foundations required to achieve the Group's 2030 ambitions of at least £100m revenue, £30m EBTIDA and £20m SaaS ARR.

Paula Constant, Chief Executive of Personal Group, commented: "I'm delighted with our 2025 results which are a testament to our passionate people, our operating pace and the continued relevance of our offerings, which are now supporting the health and wellbeing of over 1 million UK employees. We are delivering on our strategic ambitions and are well positioned to enter the first full year of our 5-year strategy, as we drive towards achieving our aspirational targets.

"Insurance sales continue to go from strength to strength which, alongside growing levels of ARR and healthy cash generation, support an ever-strengthening balance sheet. New Insurance client wins and partnerships during 2025 have expanded our addressable customer base and laid the foundations for continued growth."