3 September 2025

James Cropper plc

("James Cropper", the "Company" or the "Group")

AGM Trading Update

James Cropper plc, the Advanced Materials and Paper & Packaging group, provides a trading update for the 18-week period ended 2 August 2025 ("the Period"), ahead of its Annual General Meeting taking place at 11:30am today.

Performance in the Period has been slightly ahead of expectations in both divisions with good progress in the execution of the Board's updated strategy, outlined at the Capital Markets Event on 18 June 2025.  With disciplined cash management in line with our recently stated capital allocation policy, and the benefit of £1.2m net receipts from the sale of non-core assets, net debt of £10.3m as at 2 August 2025 has reduced from £12.9m since 29 March 2025 ("FY25"), the end of the Group's last financial year, and is £5.0m lower than the position at the same time last year.

The Board is confident in the performance of the Group for the full year ending in March 2026, with the Group targeting significant growth in Adjusted EBITDA against FY25. The roll out of our revised strategy is proceeding as planned with expectations of improved mid-term prospects of both the Advanced Materials and Paper & Packaging businesses.

David Stirling, CEO, stated:

"I am pleased we are making progress on our three key objectives: sales growth in Advanced Materials, improving profitability in Paper & Packaging and disciplined cash management to embed leverage below 2x EBITDA. The business is becoming more agile and streamlined to deliver our objectives, which will create long-term value for shareholders as we make progress against our recently introduced strategy."

-ENDS-

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About James Cropper plc

James Cropper plc is globally recognised for its specialist capabilities in the design and manufacture of advanced materials and paper products. Operating through two principal businesses - Advanced Materials and Paper & Packaging - and built upon 180 years of innovation, the Group serves a diverse range of customers with high-performance solutions tailored to specialised applications.

The Advanced Materials business develops cutting-edge nonwoven materials and electrochemical coatings for sectors including aerospace, clean energy, and defence. The Paper & Packaging business offers premium creative papers and bespoke moulded fibre packaging together with leading recycled-fibre capabilities and products, supporting the transition to a circular economy.

Headquartered in Burneside (UK), with additional manufacturing sites in Crewe (UK), Launceston (UK), and Schenectady (USA), James Cropper leverages deep expertise in material science and longstanding partnerships with industry-leading businesses and brands to develop bespoke solutions that meet complex technical and aesthetic specifications.