AGM Trading Update

Press Release

Morgan Advanced Materials plc

7 May 2026

AGM Trading Update

Trading in-line; full-year guidance maintained

Morgan Advanced Materials plc, the global leader in advanced ceramics and carbon systems for technologically demanding applications, announces a trading update in advance of its 2026 Annual General Meeting being held later today.

Current Trading

During the first quarter, we continued to see broad based order intake stability across the Group's divisions and end-markets. Noting the weak prior year comparator, and as expected, the Group delivered organic constant currency revenue1 growth of 6.2%.

2026 Outlook

Q1 trading was in line with expectations and our full year outlook for 2026 remains unchanged. 

We have not observed any material direct or indirect trading impact from the conflict in the Middle East in Q1, and are responding through pricing to offset inflationary impacts. We will continue to monitor this evolving situation including any further impact from the situation becoming prolonged.

Damien Caby, Chief Executive Officer, commented:

"Our Q1 trading was in line with our expectations and today we reconfirm our full year guidance for 2026. We are making good progress against our strategic priorities, including the strategic review of Thermal Products, and continue to focus on executing at pace against the strategy set out at our December 2025 Capital Markets Day."

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1'Organic constant currency revenue': Group revenue excluding acquisition, disposal and business exit impacts with the current and prior year results translated at current year average exchange rates

Important notice

This announcement contains forward-looking statements. These statements have been made in good faith based on the information available up to the time of the approval of this announcement. No assurance can be given that these expectations will prove to have been correct. By their nature, forward-looking statements involve risks, uncertainties or assumptions that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. As such, undue reliance should not be placed on forward-looking statements.

The Directors undertake no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.