Trading Update

1 October 2025

Northern Bear plc

("Northern Bear" or the "Company")

Trading Update

The Board of Directors (the "Board") of Northern Bear (LSE:NTBR), the AIM quoted group providing specialist building and support services headquartered in Northern England and serving customers across the UK, is pleased to provide an update on trading for the Company and its subsidiaries (together, the "Group").

Northern Bear confirms that the Group is currently trading ahead of expectations since the publication of the preliminary results on 15 July 2025.

Based on EBIT for the first half of FY26, the full year outcome is expected to be broadly consistent with the strong underlying profit performance for the year ended 31 March 2025, after adjusting for H Peel & Sons Limited losses and related closure costs in FY25 ("Adjusted FY25 EBIT") and excluding the non-recurring profit noted below.

In addition, we are pleased to report a non-recurring operating profit of approximately £1.0 million, which has enabled the Group to fully repay its outstanding term debt of £1.275 million relating to the tender offer settled on 8 December 2023.

Excluding this non-recurring profit, the Board currently expects EBIT for the year to 31 March 2026 to be broadly in line with Adjusted FY25 EBIT, noting our strong performance in H2 FY25 due to favourable winter weather conditions.

The Board looks forward to providing a further update at the time of the interim results in late November 2025.

For further information contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.