Consultancy Agreement

28 April 2023

AJ Bell plc ("AJ Bell" or the "Company")

Further to the announcements on 27 September 2022 and 21 April 2023 respectively about Baroness Helena Morrissey stepping down as Chair when a new Chair had been found and the appointment of Fiona Clutterbuck as Chair with effect from 1 May 2023, AJ Bell today announces that Helena will leave the Board on 30 April 2023.

As also previously announced, Helena will continue work with AJ Bell on a consultancy basis after stepping down. AJ Bell Business Solutions Limited, a wholly owned subsidiary of AJ Bell, entered into a consultancy agreement ("Consultancy Agreement") with Helena Morrissey Limited, a company associated with Helena Morrissey, on 28 April 2023.

Under the terms of the Consultancy Agreement, Helena Morrissey Limited will be paid an annual fee of £150,000 for procuring the services of Helena for not less than 48 days during the term of one year. Under the arrangement Helena will continue to provide support for Money Matters, AJ Bell's initiative to encourage more women to invest, and also help the Company to progress its ambitions around the diversity of its own workforce

The Consultancy Agreement falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c). Before the Consultancy Agreement was entered into AJ Bell obtained an opinion from its sponsor that the terms of the arrangement are fair and reasonable as far as the shareholders of the Company are concerned for the purposes of Listing Rule 11.1.10R(b).

Michael Summersgill, Chief Executive Officer of AJ Bell, said:

"I would like to thank Helena for her contribution to AJ Bell as Chair and look forward to working with her in her new consultancy role where we will continue to benefit from her passion and commitment to diversity and inclusion."

Baroness Helena Morrissey said:

"AJ Bell's Money Matters initiative is a great source of knowledge and inspiration for women who want to invest more but want some help and guidance along the way. There is a gender investment gap in the UK that needs closing and I'm excited to be continuing to work with AJ Bell on this important campaign."

For further information, please contact:

AJ Bell plc

·      Bruce Robinson, Company Secretary: +44 (0) 780 234 4859

·      Shaun Yates, Investor Relations Director +44 (0) 7522 235 898

·      Charlie Musson, Brand and PR Director  +44 (0) 7834 499 554