Share Buyback and Cancellation of Treasury Shares

Team Internet Group Plc (AIM: TIG, OTCQX: TIGXF), the global internet company that generates recurring revenue from creating meaningful and successful connections: businesses to domains, brands to consumers, publishers to advertisers, is pleased to announce the launch of a share buyback programme of ordinary shares of £0.001 each ("Ordinary Shares") to repurchase up to 13,048,000 Ordinary Shares (the "Buyback Programme"), effective from today.

The Board considers the Buyback Programme to be in the best interests of all shareholders, given the cash generative nature of the business and the performance at least in line with current market expectations. It continues the Group's established capital allocation policy, which is geared towards greater returns to shareholders.

The Company has appointed its joint broker, Zeus Capital Limited ("Zeus"), to manage the Buyback Programme to repurchase Ordinary Shares on its behalf and entered into an irrevocable and non-discretionary arrangement on 6 September 2024 with Zeus, to enable Zeus to conduct the Buyback Programme on a broker-managed basis. Zeus will make trading decisions in relation to the Buyback Programme independently of the Company, within certain defined parameters.

The Buyback Programme commences today and will end on the earlier of the date upon which the aggregate number of Ordinary Shares purchased is 13,048,000, the aggregate consideration paid for Ordinary Shares reaches £19,572,000, the date of the Company's next annual general meeting (expected to be in April 2025) or 1 July 2025 (the "Buyback Period"). During the Buyback Period the Company has no power to invoke any changes to the authority and any purchases will be undertaken by Zeus, acting independently of, and uninfluenced by the Company.

Ordinary Share repurchases will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volume. The Buyback Programme is in accordance with the Company's general authority to purchase a maximum of 26,096,000 Ordinary Shares, granted by its shareholders at the Annual General Meeting held on 19 April 2024, including that the maximum price paid per Ordinary Share will be no more than: a) 105 per cent. of the average trading price of the Ordinary Shares as derived from the middle market quotations for an Ordinary Share on the London Stock Exchange Daily Official List for the five trading days immediately preceding the date on which an Ordinary Share is contracted to be purchased; and b) the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out.

Under the Buyback Programme, the repurchased shares will either be cancelled or held in treasury at the Company's discretion for later reissue or cancellation. Shares held in treasury are not entitled to dividends and have no voting rights at the Company's general meetings.

The Company confirms that it currently has no unpublished price sensitive information.

Cancellation of Treasury Shares

The Company also announces that an application has been made to cancel 14,400,000 Ordinary Shares to ensure it has sufficient headroom for any share repurchases made pursuant to the Buyback Programme. Following the cancellation, the issued share capital of the Company will be 273,500,000 and the Company will hold 14,270,711 Ordinary Shares in treasury. The total voting rights in the Company will remain unchanged at 259,229,289.

The person responsible for arranging for the release of this announcement on behalf of Team Internet is William Green, CFO