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, trading during the first quarter has been resilient, reflecting our diversified specialist business model and the varying conditions across the end markets in which we operate.

As previously announced, UK Infrastructure activity has been slower than anticipated; however, as AMP8 investment programmes mobilise, we expect activity to build throughout the year. Thanks to our strong positions, we continue to perform well in electricity transmission, specialist construction and international markets.

We continue to make good progress against our strategic priorities with the Brandon Hire Station restructuring complete positioning the business for improved returns over the medium term. Investment in our digital transformation programme is strengthening operational efficiency and collaboration across the Group, complemented by an enhanced operating model that brings our Managing Directors onto the Executive Committee, strengthening leadership and supporting the effective delivery of our strategy.

Execution of our medium-term plan continues, with our five strategic pillars providing a clear framework for delivering sustainable long-term growth.

The Board remains confident in the Group's ability to capitalise on long-term opportunities across its specialist markets and continues to expect performance for the year to be in line with market expectations*."

* Vp compiled analyst consensus for 2026/2027: Revenue of £351.3m, Profit before tax, amortisation and impairment of goodwill, trade names and customer relationships and exceptional items of £32.5m and pre-IFRS 16 net debt of £154.4m.