AGM Trading Statement

Supreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer goods, announces that Chairman Paul McDonald will provide the following statement at its Annual General Meeting at 9.00 a.m. today:

"Supreme traded strongly across the year ended 31 March 2024, delivering record organic revenue and profit growth, and ending the year debt-free. We again saw strong consumer demand for our products, which continue to offer both high quality and value at a time when household discretionary spend remains under pressure.

Pleasingly, we have continued to build on this positive trading momentum in the first half of the current financial year ("H1 2025").

The earnings enhancing acquisition of soft drinks business Clearly Drinks (completed in June 2024) has accelerated our broader diversification strategy, with our teams already leveraging Supreme's extensive UK distribution network to create additional cross-selling opportunities and expand our market footprint.

Post the acquisition of Clearly Drinks, non-vape annualised sales are now expected to exceed £100 million. Acquisitions continue to underpin Supreme's growth ambitions, and the current M&A pipeline is strong with opportunities spanning multiple product verticals and markets.

The core lines within our Vaping category continue to perform well and we remain well positioned to comfortably manage the anticipated changes to the UK vaping market, having continued investment in rechargeable pod system vaping devices, adapted our flavour range and own-brand packaging, and ensured all retail partners enforce rigid age verification checks.

As an industry leader, Supreme acknowledges the wider concerns of underage vaping and remains fully supportive of proposed legislative changes in the UK. Details of the proactive measures that Supreme is taking to curb underage vaping are available to read in our latest Annual Report on our website.

Following a solid start in H1 2025, Supreme expects trading for the year ended 31 March 2025 ("FY 2025") to be in line with market expectations1."

1 Company compiled analyst consensus for the year ending 31 March 2025 prior to release of this announcement was Adjusted EBITDA2 of £37 million