Tortilla Mexican Grill plc

("Tortilla", the "Group" or the "Company")

Leadership Transition and Strategic Priorities

6 February 2026

Tortilla Mexican Grill PLC, the largest and most successful fast-casual Mexican restaurant group in the UK and Europe, announces a series of Board and management changes, effective immediately, as the Group enters its next phase of development.

Highlights  

·      Brandon Stephens, Founder, appointed as Group CEO to lead the next phase of Tortilla's development

·      Mac Plumpton, former Managing Director of LEON, joins the senior leadership team as UK CEO

·      Marta Pogroszewska, former Managing Director of Bread Holdings Ltd (parent company of Gail's), joins the Board as Non-Executive Director

·      Edson Diaz-Fuentes, one of the UK's leading Mexican chefs, joins the senior leadership team as Food Ambassador

·      Francesca Tiritiello, former CFO of YUM! Europe, steps down from the Board and role as Non-Executive Director and assumes a more active role as Board Advisor, leading UK and European franchise development

·      Andy Naylor steps down as CEO after eight years with the Company

·      Keith Down steps down as Non-Executive Director and Audit Committee Chair; recruitment of his replacement is underway

·      Board and management changes position Tortilla to execute on its vision of becoming the leading pan-European fast-casual Mexican brand

These changes position Tortilla to execute on its vision of becoming the leading pan-European fast-casual Mexican brand. The strengthened leadership team brings together concept development expertise, fast-casual operational experience, Mexican cuisine expertise, and international franchise development capability.

As previously announced, the Company ended 2025 with strong like-for-like sales performance in the UK and significant uplifts in sales from its converted French stores, providing a solid foundation for the next phase of growth.

Leadership Changes

Brandon Stephens, Founder & Group CEO: Brandon founded Tortilla in 2007 and served as CEO until 2014. Currently a Non-Executive Director, Brandon returns as Group CEO to lead the next phase of development. He will focus on long-term strategy, concept and brand innovation, food development, technology roadmap, property selection, business development, and investor relations.

Mac Plumpton, UK CEO: Mac joins as UK CEO to lead the UK business. He most recently served as Managing Director of LEON and previously co-founded Tapas Revolution. Mac brings deep operational experience from senior roles at Rosa's Thai, Belgo, Strada, and Planet Hollywood.

Marta Pogroszewska, Non-Executive Director: Marta joins the Board as Non-Executive Director. As former Managing Director of Bread Holdings Ltd (parent company of leading bakery business Gail's), she oversaw growth from 27 to 180 sites. Marta was awarded the Industry Leader Award at the 2024 Peach Awards and brings direct experience at Tortilla's stage of development.

Edson Diaz-Fuentes, Food Ambassador: Edson joins the senior leadership team as Food Ambassador. A Mexico City native with culinary training throughout Mexico, Edson is one of the UK's leading Mexican chefs. He previously worked at fast-casual Mexican chain Benito's Hat, served as Head of Menu Innovation at Wahaca, and founded Mexican restaurant chain Santo Remedio. A prominent advocate for Mexican food and culture in the UK, his cookbook Ciudad de Mexico was published in 2021. Edson will work alongside the Tortilla Food Team to enhance the core offering and extend the menu.

Francesca Tiritiello, Board Advisor: Francesca, former CFO of YUM! Europe, steps down from the Board and assumes a more active role as Board Advisor, leading UK and European franchise development through her franchise advisory firm Kikkirossi. Having led the Fresh Burritos acquisition, Francesca is ideally positioned to execute on the Company's pan-European expansion plans.

Andy Naylor: Andy Naylor steps down as CEO after eight years with the Company. The Board thanks Andy for his significant contribution to Tortilla and wishes him well in his future endeavours.

Keith Down: Keith Down, Non-Executive Director and Audit Committee Chair, has decided to step down from the Board to pursue other business interests/opportunities. Recruitment for a new Audit Committee Chair is underway, and a further announcement will be made in due course.

Strategic Priorities

Under the refreshed leadership team, the Company will focus on five key strategic initiatives:

1.  Product Enhancements: Enhance and broaden the food offering over the next 18 months to achieve parity with global best-in-class offerings

2.  France Conversion: Convert the remaining corporate-owned Fresh Burritos stores in France to Tortilla-branded stores by end of 2026

3.  UK Estate Optimisation: Address the short tail of underperforming UK stores to eliminate loss-making stores and drive UK 4-wall EBITDA margin toward 20% as a longer-term goal.

4.  Franchise Model Validation: Prove the European franchise rollout model in France, accounting for scale improvements over time, to set the stage for a first territory-wide or regional franchise deal on the continent by end of 2026

5. Technology & AI: Deploy AI-enabled tools and a data-driven approach across the organisation to streamline operations, strengthen unit economics, and enable faster, data-driven decision-making

The Company intends to host a Capital Markets Day in the coming months to provide investors with further detail on these strategic initiatives and introduce the refreshed leadership team.

Commenting on the announcement:

Duncan Garrood, Non-Executive Chair, said: "These appointments represent a significant strengthening of Tortilla's leadership as we enter a pivotal phase in the Company's development. Brandon's return as Group CEO, combined with Mac's operational expertise, Marta's scaling experience, Edson's Mexican cuisine expertise, and Francesca's European franchising knowledge, gives us the right team to deliver on our ambition of becoming a pan-European fast-casual Mexican brand. We have clear priorities, a credible plan, and the people to execute it. I would like to thank Andy for his contribution to Tortilla. He has led the business through significant growth, and I would like to thank him warmly for his dedication and contribution and wish him every success in his future career."

Brandon Stephens, Founder & Group CEO, said: "I'm pleased to be returning to lead Tortilla through its next chapter. We have built something meaningful, but there is significant work ahead. The experienced leadership team we have assembled are fully aligned on putting the customer first, investing in our product, and building a sustainable, pan-European business. I would like to thank Duncan and Auctor for their support."

Mac Plumpton, UK CEO, said: "I'm delighted to be joining Tortilla at such an important time. Fast-casual success depends on getting the balance right between product quality, value for money, and operational efficiency, and I look forward to supporting our teams to achieve those critical objectives. I'm excited to work alongside Brandon and the team to realise Tortilla's potential."

Marta Pogroszewska, Non-Executive Director, said: "I have long admired the Tortilla brand and am pleased to join the Board at this pivotal moment. Having scaled Gail's through a similar stage of growth, I understand the challenges and opportunities that Tortilla faces. I look forward to contributing my experience to support the leadership team as they execute on the Company's strategic priorities."

Andy Naylor, outgoing CEO, said: "It has been a privilege to serve as CEO of Tortilla. I am proud of what we have achieved together, most recently delivering a record year of profitability in the UK and making the first steps of our journey of European expansion. I believe now is the right time for new leadership to take the business forward. I leave Tortilla in capable hands and wish Brandon, Mac, and the entire team every success."

AIM Rule 17 Disclosures

The following information is provided in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies:

Marta Pogroszewska (aged 47 years) holds/has held the following directorships/partnerships in the last 5 years:

Current Directorships/partnerships

·      Grain Bidco Limited

·      Directim Ltd

Directorships/partnerships within the last five years:

·      Bread Limited

·      Bread Holdings Limited

·      Gail's Limited

·      Bread Acquisitions Limited

·      Well Grounded Jobs C.I.C.

·      Pan Pek

Marta Pogroszewska does not currently own any securities in the Company. There are no further disclosures required in accordance with Rule 17 or Schedule 2(g) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

ENQUIRIES:

About Tortilla Mexican Grill plc

Founded in 2007, Tortilla is Europe's largest fast-casual Mexican restaurant brand. With 81 UK locations (of which 15 are franchise stores), 22 in France (of which 9 are franchise stores) and 13 franchise stores in the Middle East, Tortilla offers authentic California-style burritos, tacos and salads.

Through the acquisition of Chilango in the UK in 2022 and Fresh Burritos in France in 2024, as well as franchise partnerships with SSP Group plc, Compass UK & Ireland and Eathos, the brand continues to expand globally.

Tortilla breaks the mould of typical takeaways, combining quick service with quality ingredients to serve affordable, made-to-order meals in under 90 seconds, in cosy environments fitting for lunch or dinner and a beer with friends. The menu is fully customisable - there are thousands of flavour combinations to try - with produce that's fresh, never frozen, 70% plant-based and vegan-friendly, higher welfare meats and free from artificial flavours or preservatives.

Emphasising sustainability, Tortilla only uses recycled and recyclable packaging, 100% renewable electricity and sends zero waste to landfill.

Headquartered in London and listed on the London Stock Exchange (LSE: MEX), Tortilla employs over 1,200 people.

More details at tortillagroup.co.uk