16 September 2025

Manolete Partners PLC

("Manolete" or "the Company")

AGM Update

Manolete, the leading UK-listed insolvency litigation financing company, provides the following update ahead of its Annual General Meeting at 10:00 a.m. today.

With the first half of the year nearly complete, the Company is pleased to have settled one of the truck cartel cases and is also satisfied with the volume and value of new cases onboarded in the last five months. In the period to 31 August 2025, 114 new cases have been added which have generated unaudited unrealised revenue of £4.2 million. For comparison, across the same period in FY25, 87 cases were onboarded which generated unrealised revenue of £3.1 million.

As reported at the time of the full year results, the financial year started well. However, over the last 12 weeks the Company has settled fewer large cases than in the prior year period. In the five months to 31 August 2025, four cases settled at a value greater than £250,000 compared to ten in the same period last year. This has contributed to lower average realised revenue per completed case in the period (excluding the settled cartel case).

The level of activity throughout the year for Manolete is not linear, and a number of higher value completions are expected over the coming months alongside a strong pipeline of potential case signings. The Board is confident in the outlook for the business for the full year but realised revenues are expected to be significantly weighted towards the second half of the financial year.

The cash injection from the settled truck cartel case amounted to £3.2 million and the proceeds were largely used to reduce the Company's debt. Since then, the Company has experienced a recent and small number of large debtors that have delayed payment which, when combined with the lower realised revenue, means that the facility remains drawn to a total of £12.5 million.

The information contained in this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement this inside information is now considered to be in the public domain.

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