THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO PURCHASE AND/OR SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ARGENTEX GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF ARGENTEX GROUP PLC OR ANY OTHER ENTITY.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION RELATING TO ARGENTEX GROUP PLC AND ITS SECURITIES FOR THE PURPOSES OF ARTICLE 7 OF MAR.

9 May 2024

Argentex Group PLC

Result of Placing and Retail Offer

Argentex Group PLC (AIM: AGFX) ("Argentex"), the provider of currency management and payment solutions to international institutions and corporates, announces that, further to its announcements on 2 and 3 May 2024 (the "Fundraising Announcements"), it has concluded a retail offer via the Bookbuild Platform (the "Retail Offer"). Pursuant to the Placing and Retail Offer, the Company has resolved to issue a total of 7,221,508 new Ordinary Shares at the Issue Price raising gross proceeds of £3.25m (the "Fundraising Shares").

Capitalised terms in this announcement have the same meaning as in the Fundraising Announcements unless otherwise indicated.

Admission

The Company has made application for the admission of the Fundraising Shares to trading on AIM ("Admission"). It is expected that Admission of the Fundraising Shares will become effective at 8.00 a.m. on 13 May 2024. The Fundraising Shares, when issued, will be fully paid and will rank pari passu in all respects with each other and with the existing Ordinary Shares of the Company, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Total Voting Rights

Following Admission, the Company's issued ordinary share capital will consist of 120,429,055 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 120,429,055. With effect from Admission, this figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The person responsible for arranging the release of this Announcement on behalf of the Company is Jim Ormonde, Chief Executive Officer of the Company.

For further information, please contact:

Argentex Group PLC

Jim Ormonde - Chief Executive Officer

investorrelations@argentex.com

Singer Capital Markets (Nominated Adviser and Broker)

Tom Salvesen / James Maxwell / Angus Campbell

020 7496 3000

Teneo

James Macey White / Victoria Boxall

020 7353 4200

IMPORTANT NOTICES

The content of this announcement has been prepared by, and is the sole responsibility of, the Company.

This announcement and the information contained herein is restricted and is not for publication, release or distribution, directly or indirectly, in whole or in part, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia, Australia, Canada, Japan, New Zealand, the Republic of South Africa or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction.

The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Singer Capital Markets Securities Limited ("Singer Capital Markets"), which is authorised and regulated in the United Kingdom by the FCA is acting exclusively for the Company and no-one else in connection with the transactions and arrangements described in this announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the transactions and arrangements described in this announcement. Singer Capital Markets is not responsible to anyone other than the Company for providing the protections afforded to clients of Singer Capital Markets or for providing advice in connection with the contents of this announcement, or the transactions and arrangements described in this announcement.

Singer Capital Markets Advisory LLP ("SCM Advisory"), which is authorised and regulated in the United Kingdom by the FCA, is acting as Nominated Adviser to the Company for the purposes of the AIM Rules and no-one else in connection with the arrangements described in this announcement and will not be responsible to any other person (whether or not a recipient of this announcement) as a client in relation to the transactions and arrangements described in this announcement. SCM Advisory is not responsible to anyone, other than the Company, for providing the protections afforded to clients of SCM Advisory or for providing advice in connection with the contents of this announcement or the transactions and arrangements described herein. SCM Advisory's responsibilities as the Company's Nominated Adviser under the AIM Rules for Nominated Advisers published by the London Stock Exchange plc are owed solely to the London Stock Exchange plc and are not owed to the Company or to any director or to any other person.

Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into or forms part of this announcement.

The New Ordinary Shares to be issued or sold pursuant to the Placing and Retail Offer will not be admitted to trading on any stock exchange other than AIM.