Launch of £40 million Share Buyback Programme

596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The information is disclosed in accordance with the Company's obligations under Article 17 of UK MAR. Upon publication of this announcement, this inside information is considered to be in the public domain.

Volex plc

("Volex", the "Company", or the "Group")

Launch of £40 million Share Buyback Programme

Volex plc (AIM: VLX), the specialist integrated manufacturer of critical power and data transmission products, announces the launch of an on-market share buyback programme to purchase its ordinary shares of 25 pence each (the "Ordinary Shares") up to an aggregate value of £40 million (the "Share Buyback Programme").

The purpose of the Share Buyback Programme is to reduce the Company's share capital and return surplus capital to the Company's shareholders. All Ordinary Shares repurchased by the Company pursuant to the Share Buyback Programme will be cancelled.

The Board regularly reviews the Group's cash performance, ongoing capital requirements and approach to capital allocation, and considers the Share Buyback Programme to be in the best interests of the Company and its shareholders, providing a further means of returning surplus capital, whilst maintaining the financial flexibility to continue to invest in the Group's strategy.

The Company has entered into an agreement with Peel Hunt LLP ("Peel Hunt") to conduct the Share Buyback Programme on its behalf and carry out on-market purchases of Ordinary Shares (the "Agreement"). The Share Buyback Programme will commence immediately and will end no later than 31 March 2027. Any purchases of Ordinary Shares pursuant to the Share Buyback Programme will be carried out in accordance with certain pre-set parameters set out in the Agreement. Peel Hunt will make trading decisions in relation to the Share Buyback Programme independently of the Company. Under the Agreement, the Company has issued non-discretionary instructions to Peel Hunt to manage the Share Buyback Programme in order that purchases of Ordinary Shares can continue during closed periods, and should the Company come into possession of inside information. The Agreement is subject to customary termination rights in favour of the Company and Peel Hunt.

Any purchases pursuant to the Share Buyback Programme shall take place in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase Ordinary Shares granted by its shareholders at the annual general meeting on 7 August 2025 (the "2025 Authority") and any further authority to repurchase Ordinary Shares as may be granted by the Company's shareholders from time to time. The maximum number of Ordinary Shares that the Company is currently authorised to purchase under the 2025 Authority is 18,452,993, representing approximately 10 per cent. of the Company's share capital as at the date of this announcement. While the Company has launched the Share Buyback Programme, there can be no certainty that this or any other number of Ordinary Shares will be purchased by the Company, nor any certainty as regards the pace of any such purchases.

Due to limited liquidity in the Ordinary Shares and in order to proceed with the Share Buyback Programme in an effective manner, the Company's purchases of Ordinary Shares on any trading day may exceed 25 per cent., but will remain below 50 per cent., of the average daily trading volume of Ordinary Shares during the 20 trading days preceding the date of purchase. In all other respects purchases of Ordinary Shares pursuant to the Share Buyback Programme shall take place in accordance with Article 5 of UK MAR and the Commission Delegated Regulation (EU) No 2016/1052 with regard to regulatory technical standards for the conditions applicable to buyback programmes and stabilisation measures, as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018.

Notes:

At the date of this announcement, the Company's share capital comprises 185,097,534 Ordinary Shares.

The 2025 Authority will expire on the earlier of 6 November 2026 or the date of the Company's next annual general meeting (the "2026 AGM"), at which the Company expects to seek renewal of the 2025 Authority. The continuation of the Share Buyback Programme beyond the conclusion of the 2026 AGM will be conditional on the requisite shareholder approval being obtained and any further purchases following the 2026 AGM will be in accordance with the terms of such approval.