Launch of Share Buyback Programme

Telecom Plus today announces that it intends to commence a new share buyback programme in respect of its ordinary shares of £0.05 each ("Ordinary Shares") up to a maximum consideration of £10 million from the date of this announcement (the "Share Buyback Programme").

Details of the Share Buyback Programme

Telecom Plus has given irrevocable and non-discretionary instructions to Peel Hunt LLP ("Peel Hunt") in relation to the Share Buyback Programme, which will commence on 22 November 2023. Peel Hunt will act as principal during the Share Buyback Programme and will make trading decisions concerning the timing of the purchases of Ordinary Shares independently of the Company.

The maximum amount allocated to the Share Buyback Programme is £10 million. Any market repurchase of Ordinary Shares will be announced no later than 7:30 a.m. on the business day following the calendar day on which the repurchase occurred. All Ordinary Shares repurchased will be held as treasury shares.

Any purchases of Ordinary Shares contemplated by this announcement will be effected within certain pre-set parameters. These arrangements are in accordance with the general authority granted by the Company's shareholders at its Annual General Meeting held on 4 August 2023 (the "2023 AGM"), Chapter 12 of the Listing Rules, and those provisions of Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes.

Details of the authority granted at the 2023 AGM can be found on our website under: https://otp.tools.investis.com/clients/uk/telecom_plus/rns/regulatory-story.aspx?cid=2653&newsid=1707606