10 April 2026

AO WORLD PLC

Full Year Post-Close Trading Update for FY26

STRONG REVENUE GROWTH AND PROFIT AT THE TOP OF PREVIOUS UPGRADE

AO World plc ("the Group" or "AO"), the UK's most trusted electricals retailer, today issues the following update for the 12 months to 31 March 2026.

Total Group revenue growth expected to be c. 11%. B2C growth expected to be c. 9.5% underpinned by market share¹ gains across all key categories.

Adjusted profit before tax² is expected to be in line with previously upgraded guidance; at the top end of £45-£50m. Demonstrating again that profits are growing quicker than sales, in the region of c15% year-on-year adjusted PBT growth, despite material cost headwinds.

The Group had hedging arrangements in place in advance of recent geopolitical developments, covering approximately 80% of forecast fuel usage and 100% of electricity usage which cover the full FY27 trading period.

At the period end we expect to have c. £200m of liquidity. Profit is converting to cash, with free cash flow of c.£65m (FY25 £23m) for FY26.

AO's Founder and Chief Executive John Roberts said:

"The numbers speak for themselves again and I am delighted to keep doing our talking on the pitch.

"Our shared economics strategy and membership model, built on the foundations of brilliant retail basics, continues to deliver results. We continue to build momentum and all key metrics continue to improve, with an exciting pipeline of new initiatives ahead.

"In the coming weeks, AO will become the first company globally to reach one million Trustpilot reviews with a 4.9 rating from customers. Having founded AO 26 years ago in a small office with three people and a dream, I am incredibly proud to have reached this milestone, which is a testament to the entire team. To achieve that in a logistically difficult category highlights the structural advantage we have been building with world class quality at scale. This underpins our reputation as the UK's most trusted electrical retailer and the value of it sits on our balance sheet at zero.

"I'd like to thank every AOer and every trading partner that has made it possible by embracing our relentless obsession with customers. In line with our values, my gran is delighted and I hope my mum is proud!"

AO expects to publish its Full Year Results to 31 March 2026 on 17 June 2026.

¹ Market share data from Gfk, for the 11 months to 28 February 2026. AO's value is from company data, net value.

² Adjusted PBT is defined as a profit/(loss) before tax, adjusted for any non-recurring items as defined by the Board. Specifically, in FY25 this included two adjusting items, firstly the expenses surrounding the acquisition of Music Magpie of £3.3m. Secondly the impairment charge, in relation to our post pay mobile business, of £19.5m of goodwill and intangibles which were held on the balance sheet. There are no adjusting items in FY26.