Renewal of Contract

Coral Products plc

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

Renewal of Contract

Coral Products plc, a group of specialist businesses in the design, UK manufacture and omni-channel supply of a wide range of bespoke plastic products based in Wythenshawe, Manchester, announces that Tatra Rotalac Limited, a wholly owned subsidiary of the Group, has been awarded the renewal of a 3-year supply contract ("Contract") with a major international telecommunications group.

Following the previous renewal of this Contract, which was announced on 4 November 2020, the Company is pleased to have secured the renewal of this Contract against a competitive international tender process.

As is standard in this type of contract, it does not guarantee any sales volumes, however the Company anticipates, based on historic volumes under the existing arrangements, that aggregate turnover of circa £12m - £15m will be achieved during the 3-year supply contract to March 2028.

Tatra Rotalac Limited, which is based in Manchester, provides bespoke thermoplastic extrusion and injection moulding solutions across a number of industries worldwide.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company take responsibility for this announcement.

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Caution regarding forward looking statements

This announcement contains unaudited information and forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts and undue reliance should not be placed on any such statement because they speak only as at the date of this document and are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Coral's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. Coral undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected because of new information, future events or otherwise, save as required by law and regulations.