LAUNCH OF SHARE BUYBACK PROGRAMME

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

FOR IMMEDIATE RELEASE

24 September 2025

On the Beach Group plc

("On the Beach" or the "Company")

LAUNCH OF SHARE BUYBACK PROGRAMME

On the Beach Group plc (LSE: OTB.L) announces that it intends to commence a share buyback programme in respect of its ordinary shares of 1p each ("Ordinary Shares") for up to a maximum aggregate consideration of £25 million (excluding any associated costs and stamp duty) from the date of this announcement (the "Share Buyback Programme"). The purchased Ordinary Shares will be cancelled.

As referenced in the Company's FY25 trading update, announced today, the Board has determined that sufficient surplus cash exists to commence a share buyback of up to £25m, building on the £30m already returned to shareholders through share buybacks and dividends in FY25.

On the Beach remains committed to its capital allocation policy which is focused on investment into the business to deliver organic growth, maintaining a sustainable and progressive dividend policy, investing in additional growth opportunities and returning surplus cash to shareholders.

Details of the Share Buyback Programme

On the Beach has given irrevocable and non-discretionary instruction to Peel Hunt LLP and Numis Securities Limited trading as Deutsche Numis (together, the "Brokers") in relation to the Share Buyback Programme, which will commence today and will end no later than 31 March 2026 or, if earlier, the conclusion of the Company's AGM held in 2026 or, subject to the renewal of the requisite authority at that AGM, 30 November 2026. The Brokers will act as "riskless" or "matched" principals for the purposes of the Share Buyback Programme, within certain parameters, and will make their trading decisions concerning the purchases of Ordinary Shares independently of the Company.

The purpose of the Share Buyback Programme is to reduce the share capital of the Company.

Any purchase of Ordinary Shares under the Share Buyback Programme will be carried out on the London Stock Exchange and/or other trading venues and in accordance with the general authority to purchase Ordinary Shares granted to the directors of the Company (the "Directors") by its shareholders at the Company's annual general meeting in 2025 (the "2025 Authority", or as subsequently granted to the Directors at its annual general meeting in 2026). The maximum number of Ordinary Shares which the Company is authorised to purchase under the 2025 Authority is 12,625,307 Ordinary Shares (being the 2025 Authority in respect of 16,431,103 shares less the 3,805,796 shares bought back since the 2025 Authority was obtained).

Due to the current limited liquidity in the Company's issued ordinary shares, in order to proceed with the Programme in an effective manner, the Company, in discussions with its brokers, Peel Hunt LLP and Numis Securities Limited trading as Deutsche Numis, has agreed that the Programme may on any given trading day exceed 25% but remain below 50% of the average daily trading volume and, accordingly, the Company may not benefit from the exemption contained in Article 5(1) in Regulation (EU) 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

On the Beach will announce any purchase of Ordinary Shares under the Share Buyback Programme no later than 7.30 a.m. on the business day following the calendar day on which the purchase occurred.

The person responsible for making this announcement on behalf of the Company is Kirsteen Vickerstaff, General Counsel and Company Secretary.

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