23 April 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 569/2014 WHICH FORMS PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM PURSUANT TO THE EUROPEAN (WITHDRAWAL) ACT 2018 ("UK MAR"). UPON PUBLICATION OF THIS ANNOUNCEMENT THIS INFORMATION IS NOW CONSIDERED PUBLIC DOMAIN.

Fintel plc
("Fintel", the "Company" or the "Group")

Strategic portfolio simplification

Fintel disposes of Gateway Surveying Services and APS Legal & Associates

Fintel plc (AIM: FNTL), a leading provider of software and services to the UK retail financial services sector, announces today the disposal of two non-core assets to Kairos Professional Services Limited (the "Purchaser"), a related party buyer. The disposal is an important step in the strategic portfolio simplification of Fintel, enabling the Group to focus on its two divisional growth engines of Software & Data and Services.

THE DISPOSAL

Fintel has entered into a sale and purchase agreement (the "SPA") with the Purchaser, pursuant to which Fintel has sold the entire issued share capital of Gateway Surveying Services Limited ("GSS") and APS Legal & Associates Limited ("APS"), for aggregate cash consideration of up to £1 million (the "Disposal").

GSS provides property valuation services to mainstream UK lenders and generated revenue of approximately £9.7 million and EBITDA of approximately £0.8 million for the twelve months ended 31 December 2025.

APS provides will-writing and probate services via a network of associates and generated revenue of £1.5m and EBITDA of £0.1m for the twelve months ended 31 December 2025.

BACKGROUND AND STRATEGIC RATIONALE

The Board of Fintel has conducted a thorough strategic review of the Group's portfolio of businesses and has concluded that both GSS and APS are no longer core to the Group's software and data‑driven strategy, which is focused on scalable, higher margin and high‑quality recurring revenues.

Together, the two businesses contribute a significant proportion of non-recurring revenues generated from a largely fixed cost base. In the 12 months to 31 December 2025, the businesses generated combined Revenue of £11.2m, and EBITDA of £0.9m, representing an EBITDA margin of c.8%, significantly lower than the current Group adjusted EBITDA margin of 30%.

The Disposal importantly takes the form of legal entity sale as opposed to a trade and asset sale and will result in the following strategically significant outcomes for Fintel:

·    removal of the need to continue to insure, or insure on a 'run off' basis, approximately 500,000 previously completed property valuations.

·    removal of custody risk of c.£11m of client money currently in probate.

·    an approximate 16% reduction in the Group's total workforce, further simplifying the Group's operating structure and reducing its fixed cost base.

The Board believes that the Disposal represents an attractive opportunity to reduce complexity in the Group, remove significant operational risks and to sharpen Fintel's focus on its core data and technology and distribution platforms serving the UK retail financial services market. The transaction also supports improved capital allocation, enabling focused investment in higher‑growth, higher‑margin areas of the Group.

The Purchaser is owned and controlled by Neil Stevens, former Joint CEO of the Company and a former director of both businesses, who was previously responsible for overseeing their respective operations. The Board of Fintel believes that both businesses will be well-positioned to continue to grow and develop under the Purchaser's ownership, together with their existing management teams who will remain with the businesses.

The terms of the SPA were negotiated on an arm's length basis, and the Disposal has been structured to protect the interests of Fintel's shareholders.

FINANCIAL EFFECTS OF THE DISPOSAL

The Disposal is expected to generate gross proceeds of up to £1m for Fintel, of which £0.6m is in the form of fixed consideration payable in cash. The remaining cash consideration, estimated at £0.4m, is payable on GSS achieving certain profitability targets in the first two years under this new ownership.

The Purchaser is bound by an anti-embarrassment provision pursuant to which the Company will share in any uplift in value on any onward sale of GSS and/or APS in the three-year period following completion of the Disposal.

RELATED PARTY DETAILS AND AIM RULE 13

The Purchaser is a company controlled by Neil Stevens, who is a related party of Fintel for the purposes of Rule 13 of the AIM Rules for Companies by virtue of being former director of the Company, having resigned on 22 May 2025.

In accordance with AIM Rule 13, and having consulted with the Company's Nominated Adviser, Cavendish Capital Markets Limited, the Directors of the Company consider that, in their opinion, the terms of the Disposal are fair and reasonable insofar as Fintel's shareholders are concerned.

The Directors consider the Disposals to be in the best interests of the Company and its shareholders as a whole, having regard to, among other things, the consideration received relative to the independently assessed fair market value of the businesses, the strategic rationale set out above, the contractual protections secured by the Company in the SPA, and the arm's length basis on which the Disposal has been negotiated.

Matt Timmins, Chief Executive Officer of Fintel plc, commented:

"We are pleased to have completed this disposal, which represents an important step in the strategic portfolio simplification of Fintel, enabling us to focus on our two divisional growth engines of Software & Data and Services. The disposal also reduces complexity in the Group, removes significant operational risks, whilst supporting improved capital allocation, and enabling focused investment in higher growth, higher margin areas of the Group."

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