New Contract Win and Trading Update

25 April 2018

New Contract Win and Trading Update

Clipper Logistics plc ("Clipper", "the Group" or "the "Company"), a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce that it has signed a new contract with PrettyLittleThing.com Limited ("PLT"), part of boohoo.com plc, to provide logistics services to PLT at and from a new 600,000 square feet site in Sheffield.

The new contract will commence in July 2018 with the site employing approximately 1,200 people by the end of the year with an assortment of shift patterns including part time, night shift and student friendly working hours.

This will be a fast-moving fashion, shoe and accessories ecommerce logistics operation involving inbound deliveries from a variety of UK based and international suppliers over seven days a week. Various forms of automation and mechanisation can be introduced over the next five years to facilitate the anticipated significant growth.

Steve Parkin, Executive Chairman of Clipper said: "The new contract with Pretty Little Thing represents one of the Company's most significant contract wins and is demonstrative of our ability to deliver cost-effective solutions for retailers of any scale. We are delighted to have been awarded this contract with one of the fastest-growing online retailers, and look forward to working with the PLT team over the years ahead."

Mahmud Kamani and Carol Kane, joint CEOs of boohoo.com plc, commented: "We are delighted to have successfully concluded our negotiations and to be entering into a contractual relationship with Clipper which we hope will be a long, successful and prosperous partnership for both parties."

Trading Update

Clipper is also pleased to announce that trading for the year to 30 April 2018 is expected to be in line with the Board's expectations, with continued growth in revenue, operating profit and net earnings. Results for the year are expected to be announced in July 2018.

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Founded by Steve Parkin in 1992, Clipper is amongst the leading providers of value- added logistics solutions and e-fulfilment to the retail sector in the United Kingdom, with an expanding business in Germany and employs nearly 4,000 people. The Group provides consultancy-led services within the online fashion and general merchandise sectors to its blue-chip client base including Harvey Nichols, ASOS, The John Lewis Partnership, Asda, Supergroup, Morrisons and Sainsbury's.