Q3 2024 Trading Statement

Growth in Beauty and Ingenuity with improving trends in Nutrition through the quarter

Full-year performance expected to be within the company consensus range

Submission of THG's notification to the FCA for inclusion in the Equity Shares (Commercial Companies) ("ESCC") category

Q3 2024 Group Trading Performance

All comparative figures are continuing CCY unless otherwise stated.

• Continued growth in THG Beauty and THG Ingenuity (external), with improving trends in THG Nutrition during the quarter.
• Solid performance in THG Beauty as it builds to peak trading with advent calendar order run rate materially higher YoY.

o Performance in the UK (over half of online Beauty revenue) was notably strong with active customers in growth (+5%).

o Lookfantastic also launched its first flagship retail store as part of its targeted omnichannel strategy to enhance brand awareness, customer appeal and aid product discovery.

• Nutrition YoY revenue performance improved each month through the quarter.

o Sales have recovered from July and improved steadily through the quarter as the effect from the Myprotein rebrand fades, with September marking the second-best sales performance of the year, finishing the month in online growth excluding Asia.

o Offline revenue growth of +17% in the quarter supports our expectations of c.25% of total brand sales coming from offline channels over the medium-term.

o The transitionary impact from the rebrand is now behind Myprotein.

o Licencing highlights include the launch of co-branded Müller dairy products in major UK and Ireland supermarkets in September, with a complete nutrition ready-to-drink product also available later this month.

• THG Ingenuity external revenue growth driven by existing and new partnerships mainly within fulfilment and courier management services.

o Monthly recurring revenue[3] for THG Ingenuity (external) continued to build in September at +44.9% YoY, an acceleration on September 2023 (+7.6% YoY).

o Onboarding of CDS Superstores (trading as wilko and The Range) and MySale complete with first dispatches in the quarter. Delivery options have already been expanded for both clients enhancing their customer proposition.

o Fulfilment efficiency is expected to improve further for peak trading this year with the addition of Goods-To-Person robotics at the Group's Omega distribution centre enabling faster dispatch times.

• As part of the Group's ongoing portfolio management to further streamline all three businesses and optimise margin and cash generation, certain THG Beauty territories and non-core services were discontinued during Q3. Please refer to the appendix for the previous quarter comparatives.

ESCC transfer

• The Company's initial notification and eligibility letter for transfer to the ESCC category has been submitted to the FCA (1st October 2024). The Company continues to target effecting the transfer this calendar year and to be included in the FTSE UK Index reclassification in March 2025.

Outlook and guidance

• As noted in THG's Interim Results published on 17 September 2024, the second half of the year remains the Group's most profitable and cash generative period with the Board expecting full-year performance to be within the company consensus range[4].
• Seasonal weighting and continued revenue growth in Beauty and Ingenuity gives us confidence in the outturn, albeit we continue to monitor FX movements (Japanese Yen c.£7m ytd impact) and rising whey prices.

Matthew Moulding, CEO of THG commented:

"Today we have separately announced significant progress on our strategy to demerge THG Ingenuity into a private company supported by major shareholders. THG PLC will remain a listed leading consumer brands group, with our planned transfer to the ESCC well on track.

"It was especially pleasing to see another solid quarter of delivery from both our Beauty and Ingenuity businesses, rewarding the significant overhaul of their respective operating models during 2022 and 2023. The short-term disruption from the major rebrand of Myprotein is now behind us, and we were pleased that in September Nutrition delivered its best sales performance since January.

"We are also proud to be recognised in the top 250 companies worldwide for our contribution and efforts in sustainability thanks to our ongoing progress towards our net zero goals.

"Preparations for our busiest trading period are well advanced with efficiencies across the network over the last twelve months delivering further benefits for our Ingenuity clients to aid new customer acquisition."

Analyst and Institutional investor conference call

THG will host a conference call for analysts and institutional investors at 9:30am 11th of October (UK time) via the following link:

To ask questions, you must dial in via conference line using the below details:

• Confirmation password: THG Q3
• UK dial in: +44 (0) 33 0551 0200
• US dial in: +1 786 697 3501

APPENDIX Quarterly reported revenue growth rates Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 YTD 2024 THG Beauty -9.8% -8.3% -1.6% +1.4% -4.1% +11.4% +2.6% +2.3% +5.2% THG Nutrition +5.7% +1.8% -3.8% -6.0% -0.7% -9.0% -12.8% -13.1% -11.6% THG Ingenuity -14.3% -15.4% -8.8% -5.8% -11.0% -5.3% -3.6% -8.2% -5.7% Inter-group elimination -15.5% -17.1% -10.5% -9.0% -13.0% -8.0% 10.6% -15.7% -11.4% Group (continuing) revenue - 4.4% - 4.9% - 2.5% - 0.5% -2.9% +2.9% -1.6% -2.0% -0.3% Other (discontinued) -38.1% -48.5% -60.1% -53.0% -50.0% -54.8% 54.1% -61.3% -56.2% Group revenue -8.3% -10.3% -9.5% -6.9% -8.7% -2.0% -5.2% -5.2% -4.1% Memo: External Ingenuity -10.1% -8.6% -2.9% + 7.1% -3.5% + 4.1% +21.2% +15.0% +13.5% Quarterly constant currency revenue growth rates Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 YTD 2024 THG Beauty -12.9% -8.5% 0.9% +3.2% -3.9% +13.2% +3.2% +2.8% +7.3% THG Nutrition +3.8% +2.0% -1.4% -4.0% 0.0% -5.8% -9.2% -10.5% -7.4% THG Ingenuity -14.7% -15.4% -8.5% -5.4% -10.9% -4.9% -3.5% -8.0% -5.2% Inter-group elimination -15.5% -17.1% -10.5% -9.0% -13.0% -8.0% -10.6% -15.7% -11.4% Group (continuing) revenue -7.1% -5.0% -0.1% +1.5% -2.5% +5.3% +0.2% -0.6% +2.7% Other (discontinued) -37.7% -48.5% -59.9% -52.9% -49.9% -53.9% -53.7% -61.0% -55.3% Group revenue -11.0% -10.1% -7.6% -5.3% -8.4% +0.3% -3.4% -3.9% -1.3% Memo: External Ingenuity -11.7% -8.8% -1.4% +9.4% -3.1% +5.9% +22.3% +16.0% +16.0% Quarterly reported revenue £m Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 YTD 2024 THG Beauty 227.9 259.6 249.0 360.3 1,096.9 253.9 266.3 254.7 775.0 THG Nutrition 165.7 171.0 154.8 166.4 657.9 150.8 149.0 134.5 434.3 THG Ingenuity (external) 35.6 35.6 38.2 44.6 154.0 37.0 43.2 44.0 124.2 Group (continuing) revenue 429.2 466.2 442.1 571.4 1,908.9 441.8 458.6 433.1 1,333.5 Discontinued revenue 40.1 33.7 25.0 37.6 136.5 18.2 15.5 9.7 43.3 Total revenue 469.4 499.9 467.2 609.0 2,045.4 459.9 474.0 442.8 1,376.8 THG Ingenuity (internal) 122.3 126.5 117.4 153.6 519.9 112.6 113.0 98.9 324.6 THG Ingenuity total 157.9 162.1 155.7 198.2 673.9 149.6 156.2 142.9 448.7

Above numbers and table subject to rounding.

[1] YoY defined as year-on-year statutory sales growth

[2] CCY defined as constant currency basis

[3] Monthly Recurring Revenue comprises Software-as-a-Service license fees, managed service fees, revenue share, fulfilment and creative services

[4] Adjusted EBITDA range of £124.4m to £141.0m as dated 07.10.24 and available at Analyst Consensus - THG.com