Interim Management Statement

23 October 2013

Laird PLC

Interim Management Statement

Laird PLC today announces its Interim Management Statement for the period from 1 July 2013 to 23 October 2013. Laird is a global technology company focused on providing components and solutions that protect electronic devices from electromagnetic interference and heat, and that enable connectivity through wireless applications and antennae systems.

Trading in the third quarter was in-line with expectations. Revenue was £141 million (2012: £133 million), 6% higher than the previous year. Revenue expressed in US dollars was $218 million (2012: $210 million). On an organic* basis, year-on-year revenue was 4% higher in the third quarter of 2013. For the first nine months of 2013, revenue on an organic* basis was £385 million ($595 million), 3% lower than the prior year.

Growth in Performance Materials has led to an increase in group revenue in the third quarter of 15% over the second quarter. As anticipated, margins have improved compared to the first half due to increased topline growth driving improved utilisation, better product mix and further operational efficiencies.

Performance Materials Division

In the Performance Materials division, revenue in the third quarter was £93 million (2012: £84 million). Expressed in US dollars, revenue was $144 million (2012: $132 million). Compared to the third quarter of 2012 revenue for the division on an organic* basis was 9% higher.

As anticipated, trading in this division has picked up in the third quarter as new products have been launched by our customers in the gaming console and smartphone markets. Revenue was 26% up on the second quarter. We have maintained share with a leading customer in the smartphone market but, as previously highlighted, the maturity of the tablet market has led to lower content. Revenue has also increased due to increased sales to the automotive market in our EMI business. We have secured further orders for our thermal thin-film technology and active cooling solutions used in the medical market.

The telecom market's expansion to provide for LTE/4G has shown initial signs of commencing in the US and China. Both regions should see increased demand for our EMI and thermal solutions in the medium-term.

Wireless Systems Division

In our Wireless Systems division, revenue in the third quarter was £48 million (2012: £49 million). Expressed in US dollars, revenue was $74 million (2012: $78 million). Compared to the third quarter of 2012, revenue for the division on an organic* basis was 5% lower.

Despite the regular summer factory shutdowns, there has continued to be a steady level of demand in automotive markets and there remain good prospects for this business from 2014 and beyond from the longer-term contracts we have secured. In the M2M side of the business, revenue has been lower as a result of the planned phasing out of certain Bluetooth models ahead of new Classic and Low Energy Bluetooth model launches which will result in incremental revenues in 2014.

Industrial markets, for which we provide antennae and Wireless Automation and Control Solutions (WACS) products, have remained soft but these markets have recently started to show an improvement which has resulted in an increase in the number of bookings from industrial customers.

Strong Balance Sheet

Our financial position remains healthy. We continue to be cash generative which allows us to focus on our innovation and maintain our investment in R&D.

Outlook

The increased level of activity we have seen, particularly in our Performance Materials division, continues to underpin our confidence for 2013 and our expectations for the year remain unchanged.

Strategic progress in collaborative selling across the businesses, the ongoing penetration of select markets and our focus on innovation has brought increased customer wins, which together with the longer-term automotive contracts we have won which will begin in the new year, give us confidence for 2014.

David Lockwood, Chief Executive of Laird, said:

"We have returned to year on year growth in the third quarter. Growth in Performance Materials has led to revenue in the third quarter being 15% higher than the second quarter and with Performance Materials revenues up 26%.

We are making good strategic progress and our expectations for the year remain unchanged."

* Organic growth: On a pro-forma basis, restating prior year comparatives as if acquisitions were owned for the equivalent

period of the prior year, and in US Dollars.

A call for Analysts and Investors will be held at 08:30am (UK time), hosted by David Lockwood and

Jonathan Silver. Participant Tel No: +44 (0)20 3139 4830. Participant passcode: 49028606#.

Replay: +44 (0)20 3426 2807. Passcode: 642202#

An event for Analysts and Investors will be held in the New Year, more details to follow.