3 December 2021

iomart Group plc

("iomart" or the "Group" or the "Company")

New Bank £100m Revolving Credit Facility

iomart Group plc (AIM:IOM), the cloud computing company, is pleased to announce that it has agreed a refinancing, replacing the Company's existing single bank Revolving Credit Facility of £80 million that was due to mature on 30 September 2022, with a new £100m Revolving Credit Facility ("RCF"). The RCF is provided by a new four bank group consisting of HSBC UK, Royal Bank of Scotland, Bank of Ireland and Clydesdale Bank.

The new facility has an initial maturity date of 30 June 2025, with a 12-month extension option and benefits from a £50m Accordion Facility in addition to the £100m committed facility. The RCF has a borrowing cost at the Company's current leverage levels of 180 basis points over SONIA, compared to 150 basis points over LIBOR on the prior facility. An arrangement fee will be payable upfront in addition to a commitment fee on the undrawn portion of the new RCF on equivalent terms to the previous facility.

The RCF and the Accordion Facility (if exercised) provide the Company with additional liquidity to be used for working capital purposes and to fund investments, in accordance with the Company's 5-year strategic plan.

Scott Cunningham, CFO of iomart Group plc, commented:

"We are delighted to have secured an increased and more flexible arrangement through a diversified bank club. Our four new banks, HSBC UK, Royal Bank of Scotland, Bank of Ireland and Clydesdale Bank, are very supportive of our refreshed strategy and clear growth plans, underpinned by the existing strong and predictable financial model, with high recurring revenue and good cash generation."

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About iomart Group plc

iomart Group plc (AIM: IOM) is a cloud computing and IT managed services business providing hybrid cloud infrastructure, network connectivity, security, and digital workplace capability. Our mission is simple: to make our customers unstoppable by enabling them to connect, secure and scale anywhere, anytime. From our portfolio of data centres we own and operate across the UK to connected sites around the world, our 400-strong team can design and deploy the right cloud solution for our customers.

For further information about the Group, please visit  www.iomart.com