11 October 2023

DSW CAPITAL PLC

("DSW Capital", "DSW" or the "Group")

(AIM: DSW)

Chief Financial Officer appointed Deputy CEO and Chief Financial Officer

DSW Capital, a profitable, mid-market, challenger professional services licence network and owner of the Dow Schofield Watts brand, is pleased to announce that Nicole Burstow, Chief Financial Officer ("CFO"), has today been appointed to the role of Deputy Chief Executive Officer ("Deputy CEO") of the Group.

Nicole, who has been with the Group for four years, has been working closely alongside DSW's existing CEO James Dow, on strategy, recruitment, licensee engagement and operations, for some time and the change in title formally recognises her full contribution to the business. She will continue to fulfil her responsibilities as CFO.

James Dow, Chief Executive Officer, said:

"It gives me great pleasure to announce Nicole's official appointment as Deputy CEO. We are extremely fortunate to have such a capable and committed executive, she is well respected by all our stakeholders, and this appointment reflects that her contribution to the Group has extended far beyond her role as CFO for quite some time."

About DSW Capital

DSW Capital, owner of the Dow Schofield Watts brand, is a profitable, mid-market, challenger professional services network with a cash generative business model and scalable platform for growth. Originally established in 2002, by three KPMG alumni, DSW is one of the first platform models disrupting the traditional model of accounting professional services firms. DSW now operates licensing arrangements with 25 licensee businesses with 106 fee earners, from 11 offices across the UK. These trade primarily under the Dow Schofield Watts brand.

DSW's vision is for the DSW Network to become the most sought-after destination for ambitious, entrepreneurial professionals to start and develop their own businesses. Through a licensing model, DSW gives professionals the autonomy and flexibility to fulfil their potential. Being part of the DSW Network brings support benefits in recruitment, funding and infrastructure. DSW's challenger model attracts experienced, senior professionals, predominantly with a "Big 4" accounting firm background, who want to launch their own businesses and recognise the value of the Dow Schofield Watts brand and the synergies which come from being part of the DSW Network.

DSW aims to scale its agile model through organic growth, geographical expansion, additional service lines and investing in "Break Outs" (existing teams in larger firms). The Directors are targeting high margin, complementary, niche service lines with a strong synergistic fit with the existing DSW Network.