Update re Agreement to acquire Obviously Group Ltd

A unique AI-enabled technology platform which integrates IP and brand management, protection and enforcement, creating significant revenue opportunities as part of RWS

Further to its announcement of 2 May 2026, RWS Holdings plc (AIM: RWS), a global AI solutions company, is pleased to announce that it has reached a definitive agreement to acquire Obviously, a next generation integrated platform which enables enterprise clients to seamlessly manage, protect and enforce their Intellectual Property ("IP") and brand integrity. Completion of the acquisition will take place today.

Terms of the Acquisition

The Group's wholly-owned subsidiary, RWS Group Limited, has agreed to acquire Obviously Group Limited and its subsidiaries from the largest shareholder and founder, Julius Stobbs, and certain other minority shareholders (the "Acquisition"). The consideration for the Acquisition comprises initial cash consideration of £16.5m (on a cash-free / debt-free basis and subject to customary adjustments), payable upon completion, with earn-out consideration of up to an aggregate amount of £23.5m, payable dependent on the satisfaction of stretching EBITDA-related performance hurdles in the financial years ending 30 September 2027, 30 September 2028 and 30 September 2029 and subject to a total consideration cap of £40m. The Acquisition represents a substantial transaction for RWS for the purposes of AIM Rule 12.

RWS will fund the Acquisition through existing facilities, having successfully refinanced its revolving credit facility in October 2025 and remains well-capitalised with strong cash generation.

The Group's announcement of 2 May 2026 contains information about Obviously, its business and financial performance in the year to 28 February 2026, as well as details of the effect of the Acquisition on the Group.