First Day of Dealings on AIM

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

11 December 2025

Power Probe PLC

("Power Probe", the "Group" or the "Company")

First Day of Dealings on AIM

Power Probe, a leading producer of automotive electrical diagnostic tools for professional service technicians, is pleased to announce the admission of its entire issued ordinary share capital to trading on AIM, a market operated by the London Stock Exchange plc ("Admission").

Admission will take place, and dealings in the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") will commence, at 8.00 a.m. today under the ticker 'PWR'. The ISIN of the Ordinary Shares is GB00BSDYS558, the SEDOL of the Ordinary Shares is BSDYS55 and the Company's LEI number is 2138008NNTZ6JFU6J368.

In conjunction with Admission, aggregate gross proceeds of approximately $15 million (£11.2 million) have successfully been raised by way of a placing with investors of 13,702,384 new Ordinary Shares (the "Placing"), at a price of 82 pence per Ordinary Share (the "Placing Price").

Shore Capital and Corporate Limited is acting as nominated adviser and Shore Capital Stockbrokers Limited is acting as sole bookrunner and broker to the Company.

Chema Garcia, Chief Executive Officer, commented:

"Our IPO is a major milestone and exciting moment for Power Probe, and we are extremely grateful for the support we've received from investors. Since 1992, we've been growing our business to become a leading developer in the specialised automotive electrical diagnostics market, driven by a relentless focus on innovation and continuously adapting to the rapid evolution of vehicle technology.

Our admission to AIM marks a new chapter in that journey and will enable us to deliver on our ambitious growth plans, including opening a new state-of-the-art US manufacturing facility, which will increase our overall production capacity and bring us closer to our core end markets.

I would like to extend my sincere thanks to everyone who has been part of this journey, especially our dedicated team, without whom none of this would be possible. At the same time, I'd like to welcome our new shareholders and look forward to delivering our next phase of the Group's story as a public company."

TRANSACTION HIGHLIGHTS

· The Placing received strong support from investors and raised gross proceeds of approximately $15 million (£11.2 million).

· The market capitalisation of the Company will be approximately £60 million on Admission. The Company has 73,702,404 Ordinary Shares in issue.

· The net proceeds of the Placing will be used by the Company to:

o  open the manufacturing facility in the US, which will strengthen the Group's innovation pipeline and add production capability closer to the Group's core markets;

o  secure top-tier engineering talent including key new hires in industrial technology and research and development;

o  support expansion into new geographies including the build-out at the Group's distribution facility in Nuneaton, UK; and

o  bolster the Group's general working capital.

· In addition to the Placing, the Directors believe that Admission will provide the Company with increased reputation and profile and an improved ability to incentivise key employees.

· The Company's admission document is available for viewing at https://investors.powerprobe.com.

COMPANY HIGHLIGHTS

· Founded in 1992, and headquartered in Charlotte, North Carolina, USA, Power Probe has grown to become an internationally renowned brand with a suite of products across seven segments: powered circuit probes, testing kits, measuring tools, soldering, lighting, accessories, and private brands.

· The Group's range of electrical diagnostic tools and accessories is compatible with all major vehicle engine types and manufacturers, and Power Probe's distinctive red branding, including the iconic pen design of its flagship powered circuit probes, has made Power Probe instantly recognisable to professional service technicians and mechanics across the Company's core markets.

· The Group's testing and measuring tools are available through all major distribution channels, and the Group has strong relationships with highly regarded professional tool companies, including Snap-on, Matco Tools, MAC Tools (part of Stanley Black & Decker, Inc.), and Cornwell Quality Tools, who each distribute the Group's branded products alongside their own-brand tools. These brands have extensive and deep-rooted links into mechanics in the US and UK, the ultimate end users of the Group's products.

· The historical growth of the Group has been supported by continuous innovation, both in incremental advancements made to existing product lines and the development of new products incorporating unique technologies. The Group launched eight new products during 2024, six new products in calendar year 2025 and has 15 new products available to be launched from calendar year 2026, augmenting its existing 120+ strong product portfolio. The Directors believe that new products with additional functionalities will bring with them higher gross margins, further underpinning the Group's growth plans.

· Furthermore, the Directors believe the Group is well positioned to benefit from a number of positive, long-term market tailwinds. Expenditure on vehicle maintenance tends to be inelastic due to the importance of automotive transport, while the overall size and rate of demand for automotive maintenance and repair is expected to grow as the total global Car Parc increases, the average age of vehicles within the Car Parc rises, and vehicle complexity grows. According to independent research commissioned by the Company, the global market opportunity for the Group's products is expected to reach $2.2 billion by the end of 2032.[1]

· The Group has grown considerably in recent years, increasing Group revenue from approximately $25.0 million in the 12 months ended 31 December 2022 to approximately $31.3 million in the 12 months ended 31 December 2024, a CAGR of approximately 12%. The Group's underlying EBITDA has increased rapidly, from approximately $4.8 million to approximately $8.3 million over the same period, a CAGR of approximately 31%.

· This strong rate of growth has continued in the first half of 2025, with Group revenue for the period of $20.5 million, gross profit of $8.6 million, and underlying EBITDA of $5.3 million. In particular, the Directors believe that strong sales of recently launched products in the six month period ending 30 June 2025 evidences the return on investment deriving from the Group's focus on innovation.

· The Directors intend to adopt a progressive dividend from Admission as a result of their confidence in the Group's growth profile and cash generative business model. The Company will target a dividend payout ratio of profit after tax in the region of 50% with the first dividend payments expected to be made in 2026.

CONTACT DETAILS

About Power Probe

Power Probe is a leading producer of automotive electrical diagnostic tools for professional service technicians.

The Group was founded in 1992 in California, USA, and has grown to become an internationally renowned brand, designing and distributing over 120 products. It is driven by a relentless focus on product quality, continuous innovation and customer care, as captured in its mission statement: "Simplifying Automotive Diagnostics".

The Group's products are organised into seven segments: powered circuit probes, testing kits, measuring tools, soldering, lighting, accessories, and private brands.

INTERESTS OF THE DIRECTORS

The interests of the Directors and of members of their respective families (as defined in the glossary to the AIM Rules for Companies) (all of which are beneficial unless otherwise stated), in the issued share capital of the Company, to the extent their existence is known to, or would with reasonable diligence be ascertained by, a Director, are as follows:

(1) Shares held by CHR International Projects Limited, a company wholly owned by Jose María ("Chema") García Riera.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

All defined terms used in this announcement, not otherwise defined, have the meanings set out in the Company's admission document dated 5 December 2025 which is available on the Company's website.

Important Legal Information

Forward looking statements

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will", or "should", or, in each case, their negative or other variations or comparable terminology. All statements other than statements of historical fact included in this announcement are forward looking statements. They appear in a number of places throughout this announcement and include statements regarding the Directors' or the Group's intentions, beliefs or current expectations concerning, among other things, its operating results, financial condition, prospects, growth, expansion plans, strategies, the industry in which the Group operates and the general economic outlook.

These forward-looking statements speak only as of the date of this announcement. The Company, Shore Capital and Corporate Limited ("SCC") and Shore Capital Stockbrokers Limited ("SCS" which together with SCS is "Shore Capital") expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto, any new information or any change in events, conditions or circumstances on which any such statements are based, unless required to do so by law or any appropriate regulatory authority.

Important Notice

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement is for information purposes only and does not constitute does not constitute an offer to sell or issue or the solicitation of an offer to buy, acquire or subscribe for shares in the capital of the Company in the United States, Australia, Canada, the Republic of South Africa or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful ("Restricted Jurisdictions"). Any failure to comply with these restrictions may constitute a violation of the securities laws of such Restricted Jurisdictions. Subject to certain exemptions, the securities referred to herein may not be offered or sold in any Restricted Jurisdiction or to, or for the account or benefit of any national resident or citizen of a Restricted Jurisdiction.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

This announcement is addressed to and directed only at persons who are (a) persons in member states of the European Economic Area who are "qualified investors" within the meaning of Article 2(e) of the EU Prospectus Regulation (Regulation (EU) No 2017/1129), or (b) persons in the United Kingdom who are "qualified investors" within the meaning of Article 2(e) of the UK Prospectus Regulation (Regulation (EU) No. 2017/1129, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018) (the "UK Prospectus Regulation"), who (i) have professional experience in matters relating to investments and fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) are high net worth companies, unincorporated associations or partnerships or trustees of high value trusts as described in article 49(2) of the Order, or (c) persons to whom it may otherwise be lawful to communicate it (all such persons together being referenced to as "relevant persons"). Any investment in connection with the Placing will only be available to, and will only be engaged with, relevant persons.

Any person who is not a relevant person should not act or rely on this announcement or any of its contents.

For Taiwan recipients only. This announcement is for information purposes only and is not a public offering in Taiwan. It is not a prospectus, offering memorandum or other offering document under Taiwan's Securities and Exchange Act. The Company's securities are not listed or traded on any market in Taiwan including but not limited to the Taiwan Stock Exchange (TWSE) and the Taipei Exchange (TPEX). Shore Capital's role is limited to providing general information to the Company as adviser to the Company in respect of Admission, and it does not engage in any securities business in Taiwan. The information contained in this announcement is intended solely for personal reference. Such information is subject to change without notice and no representation or warranty express or implied is made as to, and no reliance, should be placed on, the fairness, accuracy, completeness or correctness of the information contained in this announcement. This announcement does not intend to provide, and nor must this announcement be relied upon as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. None of the Company nor any of its respective affiliates, advisers or representatives shall have any liability (in negligence or otherwise) whatsoever for any loss or damage howsoever arising from any use of this announcement or its contents or otherwise arising in connection with this announcement.

Potential investors should not base their financial decision on this announcement. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making investments should consult an authorised person specialising in advising on such investments. The value of the Ordinary Shares can decrease as well as increase.

Nothing contained herein constitutes or should be construed as (i) investment, tax, financial, accounting or legal advice, (ii) a representation that any investment or strategy is suitable or appropriate to your individual circumstances or (iii) a personal recommendation to you. For the avoidance of doubt, the contents of the Group's website, or any website directly or indirectly linked to the Group's website, are not incorporated by reference into, and do not form part of, this announcement.