Trading Statement

RWS Holdings plc ("RWS" or "the Group"), a content solutions company, powered by technology and human expertise, today provides an update on trading for the year ended 30 September 2025 ("FY25") ahead of the announcement of its full year results on 11 December 2025.

FY25 Performance

The Group expects to deliver adjusted PBT² of c.£60m reflecting a significant improvement from H1 (£18.0m) to H2, as the Group executed the efficiency plan that we announced in June.

Full year revenue on an organic constant currency ("OCC")³ basis was broadly in line with prior year. The Language Services division grew on an OCC³ basis, driven by strong progress in TrainAI, our AI services business. Revenues in Language & Content Technology and IP Services were flat compared with last year on an OCC³ basis. However, revenues in Regulated Industries fell on an OCC³ basis, driven primarily by reduced activity in our linguistic validation business. Reported revenues are expected to be £690m, down by approximately 4% from the previous year (FY24: £718.2m).

The Group had net debt⁴ of c.£26m at the end of September 2025 (31 March 2025: £27m net debt).

In early October, the Group successfully refinanced its revolving credit facility. This enabled us to increase the facility from $220m to $285m, and extend the maturity date to September 2029, on market-leading terms and enabling us to refresh and strengthen our banking syndicate. The Group continues to be well capitalised, supporting our plans for future growth.

The implementation of the new strategy we introduced in June 2025 is on track. A major step was the launch of our new organisational structure on 1 October. This structure streamlines how we sell, integrates our product and technology teams and organises our business into three segments: Generate, Transform and Protect. We intend to provide medium-term financial guidance and new performance targets when we release our FY25 results.

On 15 October we announced the appointment of Stephen Lamb, as Chief Financial Officer. It is expected that Stephen will join RWS in the first quarter of 2026.

Ben Faes, Chief Executive Officer of RWS:

"We expect to deliver adjusted PBT for FY25 within our guidance range, driven by our sharp focus on efficiency which has led to improved performance in the second half.

"The pace of change in our industry, fuelled by the global content explosion and rapid technology evolution, demands that RWS adapts quickly to succeed. We are acting decisively. Following the launch of our new operating model in October:

• Our sales teams have a clearer focus and our technology teams are working with greater collaboration
• We finalised the integration of the Papercup technology acquired in June to bring AI dubbing within our delivery capabilities
• We further strengthened our leadership with the appointments of Jérôme Grateau (EVP of Go-to-Market) and Michael Wayne (Head of Media and Entertainment); and
• We successfully delivered an efficiency plan that supported better profit performance in the second half and establishes the foundation for a leaner, more efficient future.

I look forward to giving investors a fuller update when we publish our FY25 results in December."

Notice of Full Year Results

RWS will provide a further update with its full year results on 11 December 2025. To register your interest in attending the results presentation, please email RWS@mhpgroup.com.