Director/PDMR Shareholding & Concert Party Update

Director/PDMR Shareholding

and

Concert party update

Power Probe ("Power Probe", the "Group" or the "Company"), a leading producer of automotive electrical diagnostic tools for professional service technicians, was notified yesterday, 22 October 2026, that Ip Foo Wing, Non-Executive Director, together with his spouse has purchased 10,200 ordinary shares of 0.1 pence each in the capital of the Company (“Ordinary Shares”) at a price of 58.5 pence per Ordinary Share. Following this transaction Ip Foo Wing’s beneficial holding is now 10,200 Ordinary Shares representing approximately 0.01 per cent. of the total voting rights in the Company.

Further details of the above dealing are set out at the end of this announcement.

The Concert Party

As notified in the Company’s announcement dated 27 March 2026, the Company has agreed with the Panel on Takeovers and Mergers (the “Panel”) that there is presumed to be a single concert party in relation to the Company (the “Concert Party”). Following the purchase of Ordinary Shares by Ip Foo Wing and his spouse together with the purchase of shares by CHR International Projects Limited as announced on 12 October 2026 and 15 October 2026 and the reduction in the total voting rights in the Company as a result of the purchase of Ordinary Shares under the share buyback programme announced on 8 October 2026, the aggregate interest of the Concert Party in the Company’s total voting rights has increased by 0.55 per cent.:

*Held via Ojai Valley Trust, of which IP, Foo Wing and CHEN, Yen-Chen are trustees.

As set out in the Company’s admission document dated 5 December 2025, it was the intention of So Wan to place in trust the shareholdings of JNC Ever Limited, Jubilant Inspirations Limited and Noble Character Limited for the benefit of So Wan, Ip Foo Wing, his spouse and their children (the “Ip Foo Wing Family Trust”). The establishment of the Ip Foo Wing Family Trust will have resulted in the individual interest of Ip Foo Wing and his spouse increasing by 24,954,940 Ordinary Shares, representing 34.0 per cent. of the voting rights of the Company.

It has been resolved that Ip Foo Wing, his spouse and their children will no longer be beneficiaries of the Ip Foo Wing Family Trust. The trust will be established for the sole benefit of So Wan, the current beneficial owner of the Ordinary Shares that are planned to be placed in trust.

Accordingly, previously anticipated changes to the individual shareholdings of the members of the Concert Party as a result of the establishment of the Ip Foo Wing Family Trust, are no longer expected to occur.

The members of the Concert Party hold shares carrying more than 50 per cent. of the voting rights of the Company and (for so long as they continue to be acting in concert) no obligation to make an offer under Rule 9 of the City Code on Takeovers and Mergers will normally arise from acquisitions of interests in shares carrying voting rights by any member of the Concert Party.

The 10,200 Ordinary Shares purchased by Ip Foo Wing and his spouse are subject to the lock-in agreement previously entered into between each of Ip Foo Wing, his spouse, the Company and Shore Capital Stockbrokers Limited. Under the terms of that agreement, Ip Foo Wing and his spouse have agreed not to dispose of any interest in Ordinary Shares for the period of 24 months following the Company’s admission to trading on AIM, except in certain limited circumstances.