AGM Statement

• News Release • Issue Date: 30 October 2014 Redde plc (`Group') AGM Statement At today's AGM, Avril Palmer-Baunack, chairman of Redde plc will be making thefollowing statement by way of an update on current trading of the business inrespect of the period from 1 July to 30 October 2014. Unless otherwise stated,the financial and operational data, where identified, relates to the 3 monthperiod that ended on 30 September 2014. Current Trading As previously announced in my statement of 3 September 2014, the Group's newfinancial year has begun well and this trend has continued. NewLaw, our legalservices business is trading in line with our expectations. Sales in theaccident management businesses show an increase over the corresponding periodlast year reflecting stronger trading volumes. As a consequence trading profitsare ahead of our expectations and the corresponding period last year. Earlyindications are that this trend has continued during October and the Boardremains confident about the Group's prospects for the financial year as awhole. We are seeing an increasing level of new business opportunities acrossthe Group and because our new business model is more capital-efficient than inthe past we are able to take advantage of opportunities to grow revenue andprofits with no undue increase in working capital. Cash generation has continued to be positive and, in line with seasonal trends,debtor days at 30 September 2014 were unchanged from 30 June 2014 at 108 days.Last year's debtor days at 30 September 2013 were 126 days which were unchangedfrom 30 June 2013. Net cash was £48.6 million at 30 September 2014 and comparesto net cash of £41.6 million at 30 June 2014. Total cash balances were £66.2mat 30 September 2014. Dividends Shareholders are being asked today to approve a final dividend of 3.50 penceper share and amounting to £9.8m, which if approved will be paid on Thursday 6November 2014 to those shareholders on the register at the close of business onFriday 17 October 2014. I am pleased to note that dividends in respect of the year ended 30 June 2014amount to 6.85 pence per share and £15.7 million in aggregate. As previously announced, the Group intends to return to a more normal dividendcalendar with any interim dividend for the year to 30 June 2015 being declaredin February 2015 and paid in March 2015. Ends For further information, contact: Redde plc Tel: 01225 321134Martin Ward, Chief Executive OfficerStephen Oakley, Chief Financial Officer Cenkos Securities plc (Nominated Adviser and Joint Broker) Tel: 0207 397 8925Ian SoanesMax Hartley N+1 Singer (Joint Broker) Tel: 0207 496 3000Jonny Franklin-AdamsAlex Wright Square1 Consulting Tel: 0207 929 5599David BickMark Longson Notes for Editors: About Redde plc: Founded in 1992 and working predominantly with insurance companies, insurancebrokers and prestige motor dealerships, the Group provides a range of accidentmanagement and legal services. The Group also deals directly with largenational fleets providing incident management and mobility continuity. InFebruary 2014 the Group acquired the NewLaw group of companies, primarily basedin Cardiff and Bristol, and the Group's activities now encompass a range oflegal services designed to assist claimant parties in partnership with leadinginsurance companies, brokers and other bodies. The Redde group of companies is one of the market leaders in its fields ofbusiness; it delivered accident management solutions to over 115,000 motoristsin 2014, ensuring that they remained mobile until their own vehicles wererepaired or until they were put in a position to obtain a replacement and itprovides legal services to over 30,000 claimants a year, ensuring they areproperly compensated for their injuries and losses. The name Redde is associated, in Latin, with the concept of restoration.