FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

1 July 2026

ASOS Plc

Global Online Fashion Destination

"ASOS" or the "Group"

Disposal of Atlanta fulfilment centre for c.£48m;
marks completion of non-core asset sale programme

ASOS today announces that it has signed and completed the assignment of the lease of its Atlanta fulfilment centre and the disposal of the associated automation assets (together, the "Transaction"). The lease has been assigned to a global consumer brand and the assets are being purchased by a member of the DHL Group. The Transaction marks a further strengthening of the Group's financial position, with net proceeds of c.£48m (c.$63m) and annual cash cost savings of c.£6m at current exchange rates (c.$8m).

Strategic Rationale: Continued execution of ASOS's Efficient Operating Model

The disposal of the Atlanta fulfilment centre represents a further step in ASOS's programme to strengthen its balance sheet and deliver disciplined capital allocation. The site is non-operational and was fully written down in prior periods, and the Transaction enables the Group to realise value from a non-core asset while continuing to simplify its asset base and improve cash generation.

This disposal builds on a series of actions to improve the Group's financial position, including the refinancing in November 2025, repayment of the 2026 convertible bonds in April 2026 and the disposal of the Lichfield fulfilment centre in May 2026. Net proceeds will be retained to support financial flexibility as ASOS continues to execute its strategy.

Financial Impact

The Transaction has resulted in net sale proceeds of c.£48m, with annual cash savings of c.£6m relating to rent and other occupancy costs. There is also a one-off profit before tax of c.£78m at current exchange rates (c.$103m) after adjustments to associated property liabilities which will be recognised as an adjusting item in the Group's financial results for FY26.

The net proceeds will add to the Group's cash position of £209.5m as at 1 March 2026. Taking into account the c.£67m net proceeds from the disposal of the Lichfield fulfilment centre and the c.£48m net proceeds from the Atlanta Transaction, the pro forma net debt (excluding lease liabilities) position is c.£180m (net debt was c.£295m as at 1 March 2026).

Jose Antonio Ramos, ASOS CEO, said:

"The disposal of Atlanta is another clear demonstration of us delivering on our commitments - strengthening the balance sheet, simplifying the business and maintaining strict discipline in how we allocate capital. Since closing the Atlanta fulfilment centre, we have successfully transitioned to our new US operating model, giving customers access to a broader product assortment from our global inventory. The strength of customer engagement gives us confidence in this approach and reinforces the progress we are making as we execute our strategy and reposition ASOS for long-term, sustainable growth."

The person responsible for arranging the release of this announcement on behalf of the Company is Rishi Sharma, General Counsel and Company Secretary.

For further information:

About ASOS

Founded in 2000, ASOS has 17m active customers in over 100 markets. We bring fashion lovers around the world the best and most relevant fashion through our unique own brands including ASOS DESIGN, ARRANGE, COLLUSION, Topshop and Topman, styled with the most exciting products from local and global partner brands. With our expert in-house design team and agile and flexible commercial model, including ASOS Fulfilment Services, Partner Fulfils, and Test & React, we make the latest trends accessible to all and give customers the confidence to be whoever they want to be.

Forward looking statements

This announcement may include statements that are, or may be deemed to be, "forward-looking statements" (including words such as "believe", "expect", "estimate", "intend", "anticipate" and words of similar meaning). By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances, and actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by applicable law, ASOS plc undertakes no obligation to publicly revise any forward-looking statements in this announcement, whether following any change in its expectations or to reflect events or circumstances after the date of this announcement.