AGM Statement

Vp plc, the equipment rental specialist, will hold its Annual General Meeting ('AGM') at 10am today. At the AGM, Jeremy Pilkington, Chairman of Vp, will make the following statement:

"Overall, the Group's performance for the first quarter of the financial year has been resilient despite mixed market conditions and the Board continues to expect performance for the year to be in line with market expectations*.

Within Infrastructure, the transmission sector has been strong, particularly in Germany, and we remain optimistic about water opportunities in AMP8. Rail activity levels continue to be subdued, particularly in relation to Network Rail's CP7.

In Construction, specialist construction continues to perform well in the context of mixed markets in both the UK and Ireland. However, in general construction, market conditions remain challenging. Brandon Hire Station's recovery plan continues, which the Group remains on track to materially complete by the end of the financial year. In the Group's smaller end markets of Housebuilding and Energy, performance has been broadly in line with the Board's expectations.

We welcome the UK Government's focus on growth, including both its 10 Year Industrial and Infrastructure strategies and hope that this provides much needed positive momentum in the market.

We are making good progress on our strategy supported by our digital roadmap. This includes simplifying the way the Group operates, enhancing the customer experience and pursuing a Vp Group go to market strategy."

** Vp compiled analyst consensus for 2025/2026: Revenue of £386.1m, Profit before tax, amortisation and impairment of goodwill, trade names and customer relationships and exceptional items of £37.3m and pre-IFRS 16 net debt of £137.3m.