New Share Buyback Programme

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Monday, 2 February 2026

The Character Group plc

("Character," the "Company" or the "Group")

New Share Buyback Programme

Character (AIM:CCT) today announces the launch of a new share buyback programme (the "2026 Share Buyback Programme"), following the completion of its previous share buyback programme, pursuant to which approximately £3.0 million worth of ordinary shares of 5 pence each in the Company ("Ordinary Shares") were purchased on behalf of the Company between 29 October 2024 and 15 January 2026.

The Board continues to believe that the Company's share price significantly undervalues the Group. Therefore, to further enhance shareholder returns and to reduce the Company's share capital, the Board has today approved the 2026 Share Buyback Programme to repurchase Ordinary Shares for up to a maximum aggregate consideration of £3.0 million, which will be funded out of the Group's existing cash resources.

The 2026 Share Buyback Programme will be carried out pursuant to the approvals granted by shareholders at the Annual General Meeting held on 16 January 2026 (the "General Authority") and will commence on the date of this announcement and continue until either the maximum pecuniary amount has been purchased under the 2026 Share Buyback Programme or, if earlier, 14 January 2027. The 2026 Share Buyback Programme will also automatically terminate upon the Company giving notice that any person (or group of persons known to be acting in concert) has become interested in Ordinary Shares carrying 29% or more of the voting rights in the Company.

The Company has entered into an irrevocable commitment with Panmure Liberum Limited ("Panmure Liberum") to conduct the 2026 Share Buyback Programme and repurchase Ordinary Shares on the Company's behalf and to make trading decisions under the programme in accordance with certain pre-set parameters independently of the Company.

Share purchases under the 2026 Share Buyback Programme will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other terms. The maximum price paid per Ordinary Share will be no more than: (i) the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out; and (ii) 105 per cent of the average closing middle market quotations of an Ordinary Share for the five business days immediately preceding the day on which such Ordinary Shares are purchased. Under the 2026 Share Buyback Programme, the shares repurchased by the Company will be cancelled.

There is no guarantee that the 2026 Share Buyback Programme will be implemented in full or that any purchases will be made. The Company reserves the right to bring a halt to the 2026 Share Buyback Programme under circumstances that it deems to be appropriate and in accordance with relevant law and regulation.

The 2026 Share Buyback Programme will be conducted within the pricing parameters of the Market Abuse Regulation 596/2014/EU and the delegated regulations made pursuant to it (the "Regulations"). However, given the limited liquidity in the issued Ordinary Shares, the Company has agreed that, on any trading day, a buy-back of Ordinary Shares under the 2026 Share Buyback Programme may exceed 25% but not more than 50% of the average daily trading volume in the Ordinary Shares in the 20 trading days preceding the date on which a buy-back of Ordinary Shares is carried out. Accordingly, the Company may not benefit from the exemption contained in the Regulations.

The Company will make further regulatory announcements in respect of repurchases of Ordinary Shares as required by UK MAR and the AIM Rules.

The Company confirms that it currently has no other unpublished price sensitive information at the time of this announcement.

The Character Group plc

FTSE sector: leisure goods:

FTSE AIM All-share: symbol: CCT

Market cap: £42m

Email:  [email protected]

Group website: www.thecharacter.com

Product ranges can also be viewed at www.character-online.co.uk

CHARACTER GROUP PLC CCT Stock | London Stock Exchange