Update re Agreement to acquire Obviously Group Ltd

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

For immediate release 5 May 2026

RWS Holdings plc ("RWS", "the Group")

Update re Agreement to acquire Obviously Group Limited ("Obviously")

A unique AI-enabled technology platform which integrates IP and brand management, protection and enforcement, creating significant revenue opportunities as part of RWS

Further to its announcement of 2 May 2026, RWS Holdings plc (AIM: RWS), a global AI solutions company, is pleased to announce that it has reached a definitive agreement to acquire Obviously, a next generation integrated platform which enables enterprise clients to seamlessly manage, protect and enforce their Intellectual Property ("IP") and brand integrity. Completion of the acquisition will take place today.

Terms of the Acquisition

The Group's wholly-owned subsidiary, RWS Group Limited, has agreed to acquire Obviously Group Limited and its subsidiaries from the largest shareholder and founder, Julius Stobbs, and certain other minority shareholders (the "Acquisition"). The consideration for the Acquisition comprises initial cash consideration of £16.5m (on a cash-free / debt-free basis and subject to customary adjustments), payable upon completion, with earn-out consideration of up to an aggregate amount of £23.5m, payable dependent on the satisfaction of stretching EBITDA-related performance hurdles in the financial years ending 30 September 2027, 30 September 2028 and 30 September 2029 and subject to a total consideration cap of £40m. The Acquisition represents a substantial transaction for RWS for the purposes of AIM Rule 12.

RWS will fund the Acquisition through existing facilities, having successfully refinanced its revolving credit facility in October 2025 and remains well-capitalised with strong cash generation.

Further information

The Group's announcement of 2 May 2026 contains information about Obviously, its business and financial performance in the year to 28 February 2026, as well as details of the effect of the Acquisition on the Group.

For further information, please contact:

The person responsible for arranging the release of this announcement on behalf of RWS is Jane Hyde, Group General Counsel and Company Secretary.

Important notices

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This announcement contains certain forward-looking statements relating to the business, strategy, financial performance and results of RWS and/or its subsidiaries, Obviously and/or the industry in which they operate. Actual results, levels of activity, performance, achievements and events may vary materially from those implied by the forward-looking statements. The forward-looking statements concern future circumstances and results and other matters that are not historical facts, sometimes identified by the words 'believes',' expects', 'predicts', 'intends', 'projects', 'plans', 'estimates', 'aims', 'foresees', 'anticipates', 'targets', 'goals', 'due', 'could', 'may', 'should', 'potential', 'likely' and similar expressions, although these words are not the exclusive means of doing so. These forward-looking statements include, without limitation, statements regarding RWS's and/or Obviously's future financial position, income growth, impairment charges, business strategy, projected levels of growth in relevant markets, projected costs, estimates of capital expenditures, and plans and objectives for future operations. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Nothing in this announcement should be regarded as a profit forecast.

The forward-looking statements, including assumptions, opinions and views of RWS or cited from third party sources (including Obviously), contained in this announcement are solely opinions and forecasts which are uncertain and subject to risks. Although RWS believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. Actual results may differ materially from those expressed or implied by these forward-looking statements. A number of factors could cause actual events to differ significantly from those expressed or implied by such forward looking statements.

Most of these factors are difficult to predict accurately and are generally beyond the control of RWS and/or Obviously. Any forward-looking statements made by, or on behalf of, RWS speak only as of the date they are made. Save as required by law, RWS will not publicly release the results of any revisions to any forward-looking statements in this announcement that may occur due to any change in the directors' expectations or to reflect events or circumstances after the date of this announcement.

About RWS:

RWS is a global AI solutions company empowering the world's most trusted enterprise AI.

Our proprietary Cultural Intelligence Layer, powered by 250,000 data specialists, cultural and language experts and deep domain professionals, backed by 45+ patents, makes enterprise AI culturally fluent, contextually accurate and secure, ensuring every interaction reflects a brand's tone, context and customer values.

Through our Generate, Transform and Protect segments, we deliver intelligent content, enterprise knowledge, large-scale localisation and IP protection for global growth. Trusted by 80+ of the world's top 100 brands, RWS provides the confidence, governance and expertise organisations need to deploy AI safely, responsibly and at scale.

Headquartered in the UK, RWS is listed on AIM (RWS.L).

For further information, please visit: www.rws.com.