5M FY27 Trading Update

The Board remains comfortable with market expectations

System1, www.system1group.com, the marketing decision-making platform, is pleased to provide an update on trading for the five months ending 31 August 2026 (“5M FY27”).

System1 has traded ahead of the equivalent 5-month period in FY26 (“5M FY26”), benefiting from an increase in engagement with existing customers and continued momentum in new business performance.

Highlights for 5M FY27

Total Revenue +11% year-on-year, including platform revenue increase of 12%

Growth across multiple regions; Europe +56%, US +16%, UK +7%

US as the largest market for revenues

Innovation revenue continuing to progress well, increasing by 12%; Ad Testing also up by 12%

Increased engagement with existing clients evidenced by 12-month net revenue retention rising to 80% (March 2026: 72%)

Cash at end of August £11.2m (March 2026: £12.4m); August 2025: £10.8m)

* All numbers are unaudited. All figures are presented in millions rounded to one decimal place unless specified otherwise.

Total 5M FY27 revenue grew by 11%, with platform revenues rising 12%. Revenue in Continental Europe increased by 56% reflecting in part the impact of trade tariff disputes in the early months of FY26. Total revenue in the US and the UK increased by 16% and 7% respectively, with the US becoming our largest region for the first time in many years. Innovation product revenues increased by 12% compared with 5M FY26, continuing the growth trend reflecting our strategic focus. Ad Testing revenues also rose by 12%.

Revenue generated by new platform client wins increased by ca 20% compared with 5M FY26. Wins in the first 5M FY27 included a top 3 US automotive firm, a global food group headquartered in the Netherlands, and a world-famous luxury retailer. Rolling 12-month net platform revenue retention to end August 2026 increased to 80% up by 8 points compared with March 2026, an indicator of deeper engagement with existing clients.

At the end of August 2026, the Company launched Test Your Ad Screen (“TYA Screen”), an AI screening tool providing rapid, directional predictions of an advertisement's commercial effectiveness. This tool has been trained on 18 million real human emotional responses from System1's Test Your Ad Competitive Edge database, which the Company believes to be the world's largest database of human emotional norms. Client reaction to the launch of TYA Screen has been encouraging. Within the first fortnight, demonstrations have been booked across a range of global and challenger brands, and several existing clients are actively assessing TYA Screen as a new route into the platform.

The Company remains comfortable with consensus1 Revenue and Adjusted Profit forecasts for FY27.

The Board expects to publish the Group’s FY27 interim results in early December 2026.

Commenting on the trading update, CEO James Gregory said: “We are encouraged by the strong start to FY27. We are seeing excellent progress from our US and Innovation priorities, while increased engagement with existing customers and new client wins are supporting growth across the business. This gives us a strong platform from which to continue executing our strategy as we focus on delivering further progress in the second half of the year.”

Notes

1 For the purpose of this announcement, consensus FY27 Revenue is £38.8 million and Adjusted Profit before Taxation is £4.2 million, which is repeated from the Company’s announcements on 21 April 2026 and 8 July 2026.