THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

FOR IMMEDIATE RELEASE

28^th NOVEMBER 2025

AFERIAN PLC

("Aferian", the "Company")

Extension to Banking Facilities

General Update

Extension to Banking Facilities

As announced on 29 September 2025 (the "Announcement") the Company entered into a short-term extension to its secured banking facilities of $16.5m, which were due to expire on 30 September 2025 (the "Banking Facilities"). This extended the repayment deadline to 30 November 2025 to enable the Company to explore both a sale of its Amino and 24i businesses and a sale of the Company.

As noted in the Announcement, the repayment deadline for the Banking Facilities was capable, with the consent of the Company's lenders, of being further extended, beyond 30 November 2025.

Accordingly, the Company has now agreed with the Company's lenders another short extension to the repayment deadline for the Banking Facilities until 12 December 2025.

The Directors of the Company also intend to request a further extension to this repayment deadline to 30 January 2026, although there can be no guarantee that any further extension will be agreed. Further updates will be provided as this progresses.

Other than the change to the repayment date set out above, the terms of the Banking Facilities remain unchanged from those set out in the announcement of 29 September 2025.

All terms of the £1.125 million loan arranged by the Company's largest shareholder, Kestrel Partners LLP (the "Kestrel Loan"), remain unchanged. The Kestrel Loan has a maturity date of 31 January 2026.

Formal Sale Process and M&A Process

In the Announcement, the Company also confirmed it had commenced a "Formal Sale Process" for the Company (as referred to in Note 2 on Rule 2.6 of the Takeover Code (the "Code")) (the "Formal Sale Process"). There can be no certainty that any offers will be made as a result of the Formal Sale Process, that any sale will be concluded, nor as to the terms on which any offer may be made. Full details of the process are set out in the Announcement.

In addition, as also set out in the Announcement, the Company continues to explore whether a sale of one or more of the Company's subsidiaries, or the business and assets of one or more of the Company's subsidiaries will provide a more beneficial outcome for the Company's stakeholders.

A further trading update will be provided in December 2025. Cash flow and working capital continue to be carefully managed within the Company's facilities.

The person responsible for arranging this announcement on behalf of the Company is Mark Carlisle, Chief Executive Officer.

For further information please contact: 

About Aferian plc

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our end-to-end solutions bring live and on-demand video to every kind of screen. We create the forward-thinking solutions that our customers need to drive subscriber engagement, audience satisfaction, and revenue growth.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers to stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately their profitability.

Aferian plc has two operating divisions: 24i, which focusses on streaming video experiences, and Amino, which connects Pay TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM: symbol AFRN). Headquartered in Cambridge, UK, the Company has offices in San Francisco, Amsterdam, Helsinki, Copenhagen, Madrid, Porto, Brno, and Hong Kong.

For more information, please visit www.aferian.com

Disclosure requirements of the Takeover Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Additional information

Zeus Capital Limited ("Zeus"), is authorised and regulated by the Financial Conduct Authority in the United Kingdom. Zeus is acting as financial adviser exclusively for Aferian and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than Aferian for providing the protections afforded to clients of Zeus or its affiliates, or for providing advice in relation to the contents of this announcement or any other matter referred to herein.

FRP Advisory is acting exclusively for the Company with respect to a potential transaction and will not be responsible to anyone other than the Company. Neither FRP Advisory nor any of its subsidiaries, affiliates or branches owes or accepts any duty, liability, or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of FRP Advisory in connection with this announcement, any statement or other matter or arrangement referred to herein or otherwise.

Publication on a website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at https://aferian.com/investors. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

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