Announcement of Pricing and Offer Size

Neither this announcement, nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not subscribe for or purchase any shares referred to in this announcement except solely on the basis of the information contained in the prospectus (together with any supplementary prospectus, if relevant, the "Prospectus"), including the risk factors set out therein, published on 22 October 2025 by Princes Group plc (the "Company", and together with its subsidiaries and subsidiary undertakings, the "Group") in connection with the offer of ordinary shares (the "Ordinary Shares") in the Company (the "Offer") and the proposed admission to listing of such Ordinary Shares to equity shares (commercial companies) segment of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange plc (the "LSE") (together "Admission", and Admission together with the Offer, the "IPO"). A copy of the Prospectus published by the Company is available for inspection on the Company's website at https://www.princesgroupinvestors.com​/ipo, subject to certain access restrictions.

Capitalised terms in this announcement, unless otherwise defined, shall have the same meaning as given to them in the Prospectus published by the Company on 22 October 2025 (the "Prospectus")

Princes Group plc

Announcement of Pricing and Offer Size

Following the announcement by the Company on 22 October 2025 of the price range in connection with the Offer, the Company today announces the successful pricing of the Offer at 475 pence per Ordinary Share (the "Offer Price"), commencing conditional dealings on the main market for listed securities of the LSE at 08:00 a.m. on 31 October 2025.

Simon Harrison, CEO of Princes Group, said:

"Today marks a defining moment in Princes Group's journey as we proudly begin our chapter as a publicly listed company. This milestone is a testament to the strength of our brands, the dedication of our people, and the trust placed in us by customers and partners across the globe.

For nearly 150 years, Princes has been a name synonymous with quality, value, and innovation in food and drink. Our listing on the London Stock Exchange reflects not only our heritage but also our ambition for future growth.

As we look ahead, we remain focused on expanding our international footprint, deepening our category leadership, and delivering sustainable, long-term value for all our stakeholders. I'm incredibly proud of what we've achieved and even more excited about what lies ahead for Princes Group as we continue to shape the future of food."

Angelo Mastrolia, Executive Chair Princes Group, commented:

'Today's listing is just the beginning of what we expect will be a period of exciting growth and value creation for Princes.

'I would like to sincerely thank all our new investors for the trust they have placed in us. Their confidence reflects a shared belief in Princes' strong fundamentals and our long-term strategy. We have a clear path to delivering on our strategic objectives and are ready to execute our next phase of growth. We have identified a strong pipeline of potential acquisitions, which we can pursue in a short timeframe and which will create additional synergies. At the same time, we will continue with our efforts to modernise, enhance and expand Princes' operations and extensive portfolio of brands. As majority shareholder, NewPrinces has invested in the IPO alongside new investors, demonstrating our shared commitment and confidence in the company's future success.

'In addition to thanking our investors, I want to express my gratitude to all Princes colleagues and the management team. Without their hard work, dedication and commitment, today would not have been possible. Together, we are building a stronger, more dynamic Princes, ready to deliver on its promise of growth and value creation for years to come."

Offer highlights:

• The Offer Price has been set at 475 pence per Ordinary Share, equating to a market capitalisation of approximately £1,162 million (excluding any Ordinary Shares that may be issued and allotted pursuant to the Over-allotment Option) at the commencement of conditional dealings.
• The Offer comprises 84,210,526 new Ordinary Shares to raise primary capital of approximately £400 million of gross proceeds, to support the Company with further inorganic growth via acquisitions.
• Immediately following Admission, the Company's issued share capital will be 244,702,956 Ordinary Shares (excluding any Ordinary Shares that may be issued and allotted pursuant to the Over-allotment Option).
• The Offer included a retail offer, using Retail Book Limited for distribution to retail investors in the United Kingdom (the "Retail Offer"). 2,884,889 Ordinary Shares will be issued to retail investors through the Retail Offer, raising approximately £14 million.
• Assuming that the Over-allotment Option is exercised in full, the final offer size will be approximately £420 million.
• NewPrinces S.p.A, the Company's major shareholder (the "Major Shareholder"), has subscribed for approximately £200 million worth of Ordinary Shares as part of the Offer. Newlat Group S.A., the family office of Angelo Mastrolia, (together with the Major Shareholder forms the "Major Shareholder Group") has subscribed for £54.7 million worth of Ordinary Shares as part of the Offer. As a result of the holdings of the Major Shareholder Group there is expected to be a free float of approximately 13% (excluding any Ordinary Shares that may be issued and allotted pursuant to the Over-allotment Option) immediately following Admission.
• In connection with the Offer, each of the Company, its directors and the Major Shareholder Group are subject to customary lock-up arrangements in respect of the Ordinary Shares. These lock-up periods are as follows:

o Company: 180 days following Admission

o Major Shareholder, Angelo Mastrolia (as ultimate beneficial owner) and Newlat Group S.A: 180 days following Admission

o Directors (other than Angelo Mastrolia): 360 days following Admission

Admission and Dealings

• Commencement of conditional dealings in the Ordinary Shares on the London Stock Exchange is expected to take place at 8:00 a.m. on 31 October under the ticker PRN (ISIN: GB00BVZNY531). Investors should note that only those who applied for and were allocated Ordinary Shares in the Offer will be able to deal in the Ordinary Shares on a conditional basis. Retail investors should consult their relevant intermediary to confirm the extent to which such intermediary is able to facilitate their participation in conditional dealings.
• Admission to the equity shares (commercial companies) category of the official list of the FCA and to trading on the main market for listed securities of the LSE, and the commencement of unconditional dealings in the Ordinary Shares on the LSE, is expected to occur at 8.00 a.m. on 5 November 2025.
• All dealings in the Ordinary Shares before the commencement of unconditional dealings will be of no effect if Admission does not take place and such dealings will be at the sole risk of the parties concerned.
• The pricing statement related to the Offer will be published today on the Company's website at https://www.princesgroupinvestors.com​/ipo, subject to certain access restrictions.

Information to Distributors

Solely for the purposes of the product governance requirements contained within (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; (c) local implementing measures (the "EEA Product Governance Requirements") and (d) Chapter 3 of the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK Product Governance Requirements" and together with the EEA Product Governance Requirements, the "Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the Product Governance Requirements) may otherwise have with respect thereto, the Ordinary Shares have been subject to a product approval process, which has determined that such Ordinary Shares are: (i) compatible with an end target market of retail clients and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II or Chapter 3 of the FCA Handbook Conduct of Business Sourcebook ("COBS"), as applicable; and (ii) eligible for distribution through all permitted distribution channels (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors (for the purposes of the Product Governance Requirements) should note that: the price of the Ordinary Shares may decline and investors could lose all or part of their investment; the Ordinary Shares offer no guaranteed income and no capital protection; and an investment in the Ordinary Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to any contractual, legal or regulatory selling restrictions in relation to the Offer. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the Underwriters will only procure investors who meet the criteria of professional clients and eligible counterparties. For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II or Chapters 9A or 10A respectively of COBS; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Ordinary Shares.

Each distributor is responsible for undertaking its own target market assessment in respect of the Ordinary Shares and determining appropriate distribution channels.