Trading Update and Notice of Full Year Results

18 January 2024

Restore plc

("Restore" or the "Group" or "Company")

Trading Update

and

Notice of Full Year Results

Restore plc (AIM: RST), the UK's leading provider of digital and information management and secure lifecycle services, today issues the following trading update for the year ended 31 December 2023 ("FY23").

Further to the Group's trading update of 16 November 2023, the Board is pleased to confirm that Restore expects to report adjusted profit before tax for FY23 in line with market expectations*.

Whilst 2023 was a challenging year for the Group, our foundation of highly contracted and recurring income streams, in particular our storage revenue, underpinned our financial performance.

Cash generation during FY23 remained healthy, with anticipated year-end net debt of around £98 million, towards the lower end of market expectations*.

The Group will publish FY23 results on Thursday 14 March 2024.

* Market expectations refers to a Group-compiled consensus of analyst forecasts for FY23 of:

·   Adjusted profit before tax of £30.5m, with a range of £29.4m to £31.0m.

·   Net debt of £100.2m, with a range of £96m to £103.7m.

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