Board Change and Formal Sale Process Update

8 October 2026

Futura Medical plc

("Futura" or the "Company")

Board Change and Formal Sale Process Update

Futura Medical plc (AIM: FUM), the consumer healthcare group behind Eroxon® that specialises in the development and global commercialisation of innovative and clinically proven sexual health products, announces an update to its Board and finance function as well as an update on the Company's M&A Process and Formal Sale Process ("FSP").

Board and finance function arrangements

Angela Hildreth has informed the Board of her decision to step down from her roles as Finance Director and Chief Operating Officer in order to pursue other opportunities. Following an orderly handover of her executive responsibilities, this change will take effect on 13 November 2026.

Angela will remain on the Board as a Non-Executive Director for the duration of the Company's current M&A Process and FSP, providing continuity and allowing the Company to retain access to her knowledge of the business as required during this important period.

To support the Company throughout the M&A Process and FSP, the Company has appointed Madelein (“Maddy”) Kennedy, through MadJak Associates Limited t/a CFO4Growth, as Interim Chief Financial Officer on a consultancy basis. Maddy will commence her role on 12 October 2026.

Maddy is a highly experienced finance executive with more than 30 years' experience including senior finance roles across life sciences, healthcare and AIM-quoted companies. Since 2010, she has provided fractional CFO support to SME life science and technology businesses across strategic review, fundraising, M&A, IPO and exit situations. She previously served as Chief Financial Officer of Lab21 Limited and Finance Director of AIM-listed Alliance Pharma plc, where she led the financial and legal workstreams for a number of acquisitions and supported the Company’s AIM flotation and subsequent fundraisings. Maddy currently serves as a Non-Executive Director and Audit Committee member of AIM-listed Nuformix plc and Heartbeat Care CIC. Her experience in financial management, transaction execution and supporting businesses through periods of strategic change is directly relevant to Futura’s requirements during the M&A Process and FSP.

To support the transition of Angela's executive responsibilities, the Company has also appointed ESGovernance Ltd to provide outsourced Company Secretarial and governance support. ESGovernance will support the Board across Company Secretarial, Board and committee administration, statutory and governance processes during the M&A Process and FSP.

Update on M&A Process and Formal Sale Process

The Company also provides an update on the M&A Process and Formal Sale Process announced on 3 September 2026.

In that announcement, the Company stated that interested parties would, following entry into appropriate non-disclosure arrangements and receipt of further information on the business, be invited to submit non-binding offers by 2 October 2026.

Following a positive level of interest received since 3 September 2026, the Company has now started to circulate its detailed information memorandum to a number of interested parties participating in the process. Accordingly, the Board currently expects interested parties to be invited to submit non-binding offers over approximately the coming four weeks. The precise timing will remain subject to progress in the process and engagement with those interested parties. The Board will make further announcements as appropriate.

Shareholders are advised that there can be no certainty that any offers will be made as a result of the M&A Process or FSP, that any sale or other transaction will be concluded, nor as to the terms on which any offer or other transaction may be made

Andrew Unitt, Chair of Futura Medical, commented:

"On behalf of the Board, I would like to thank Angela for her significant contribution to Futura in her executive role. We are pleased that she has agreed to remain on the Board as a Non-Executive Director through the current strategic process, allowing the Company to retain access to her considerable knowledge and experience during the transition.

“The appointments of Maddy and ESGovernance provide Futura with experienced and flexible specialist finance and governance support appropriate to the Company’s current requirements. Maddy brings substantial life sciences, AIM and transaction experience, which will be particularly valuable as we progress the M&A Process and Formal Sale Process.

"The Board remains focused on progressing these processes in a manner designed to preserve and realise value for shareholders and will provide further updates as appropriate."

Contacts:

Notes to Editors:

Futura Medical plc (AIM: FUM) is the developer of innovative, consumer-focused, sexual health products, including lead product Eroxon® and development projects WSD4000 and Eroxon® Intense. Our core strength lies in our research, development, regulatory and business development expertise in developing innovative, clinically proven, insight-led and effective products to support our customers in the growing sexual health market.

Sexual health issues are prevalent globally in both men and women. Erectile Dysfunction ("ED") impacts 1 in 5 men globally across all adult age brackets, with approximately half of all men over 40 experiencing ED and 25% of all new diagnoses being in men under 40. 60% of women experience at least one symptom of impaired sexual response or function in a twelve-month period, with only one in four women seeking professional help and remaining chronically underserved.

Eroxon®, Futura's clinically proven lead product, has been developed for the treatment of ED. The highly differentiated product, which is the only topical gel treatment for ED available over the counter and helps men get an erection fast, addresses significant unmet needs in the ED market. Multiple license or distribution partnerships are in place for Eroxon®, across major consumer markets.

WSD4000 is a project name for Futura's development female sexual health portfolio, starting with the creation of a range of topical gels under Futura's unique platform technology, specifically designed to treat symptoms of sexual dysfunction in women. There is currently no known regulatory approved OTC treatment available for impaired sexual response and function in women. WSD4000 has the potential to be an effective, breakthrough treatment for the common symptoms associated with impaired sexual response and function, such as lack of desire, arousal, lubrication, ability to orgasm and overall sexual satisfaction.

Notice related to financial advisers

Panmure Liberum Limited ("Panmure Liberum"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Futura and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Futura for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

Present Value Ltd ("Present Value") is acting exclusively for Futura and for no one else in connection with the M&A Process and the Formal Sale Process and will not be responsible to anyone other than Futura for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

Turner Pope Investments (TPI) Ltd ("Turner Pope"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively as broker for Futura and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Futura for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

Disclosure requirements of the Takeover Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

 If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Website publication

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on the Company's website at https://www.futuramedical.com promptly and by no later than 12 noon (London time) on the business day following the date of this announcement. The content of this website is not incorporated in, and does not form part of, this announcement.