AGM Statement

Inspecs Group plc, a leading designer, manufacturer, and distributor of eyewear (sunglasses, optical frames, lenses and low vision products) announces that the Company's Chair, Robin Totterman, will make the following statement in respect of current trading at today's Annual General Meeting.

"The uncertainty surrounding US tariffs is impacting Group sales, which as of the end of May were behind the prior year. However, demand in Europe has begun to strengthen, and projects with major retailers in the US and Canada are progressing well.

"As announced on 10 April 2025, the Group has initiated a strategic review of Norville, its lens business. This review is expected to conclude by the end of June 2025.

"The Board continues to make good progress in its search for a new Independent Non-Executive Chair ("Chair") and a new Chief Financial Officer. An update on these processes will be provided in due course.

"Despite the challenges faced since the start of the year, the Group remains focused on improving operational efficiency and implementing cost-saving initiatives which are expected to accelerate in the second half, to mitigate these headwinds. We expect revenue for the full year 2025 to be broadly flat versus 2024, and our guidance on EBITDA remains unchanged.

"At the conclusion of today's meeting, I will step down as Chair of the Company, which I founded in 1988. I would like to take this opportunity to thank everyone who has been part of the journey - our employees, suppliers, and customers. I look forward to supporting the new Chair, once appointed, to ensure a smooth transition as we continue to deliver value for all our stakeholders."