Notice of General Meeting

FOR IMMEDIATE RELEASE

21 May 2025

Ricardo plc ("Ricardo" or the "Company")

Publication of Circular and Notice of General Meeting

On 1 May 2025, the Board of Ricardo (the "Board") announced that it had received a notice from Science Group plc and Ropemaker Nominees Limited (as the registered shareholder of Science Group's Ricardo shares) requisitioning a general meeting to consider a resolution that Mark Clare be removed from office as a director of the Company and Chairman of the Board with immediate effect (the "Resolution").

The Board announces that today it is posting a circular to shareholders, which contains a Notice of General Meeting (together, the "Circular"). The General Meeting will be held at the offices of Ashurst LLP, London Fruit & Wool Exchange, 1 Duval Square, London E1 6PW at 2:15 pm BST on 18 June 2025. The Circular is available for all investors at https://www.ricardo.com/en/investors.

As set out in greater detail in the Circular, the Board does not believe the Resolution is in the best interests of Ricardo and its shareholders as a whole and is unanimously recommending shareholders to vote AGAINST the Resolution.

The Board confirms that the Company continues to expect to deliver trading within the range of analyst expectations for FY24/25. The Board's confidence is supported by the high level of FY24/25 net revenue already secured across the consulting businesses, which has grown from 91% at the end of March 2025 to 96% as at 16 May 2025, together with 95% of FY24/25 gross revenue for PP having been secured, and the remainder in the pipeline.

About Ricardo plc

Ricardo plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and close to 3,000 employees in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services, together with safe and smart transport solutions. Our global team of consultants, environmental specialists, engineers, and scientists support our customers to solve the most complex and dynamic challenges to help achieve a safe and sustainable world.

Visit www.Ricardo.com.