Malvern International PLC

("Malvern" or the "Company")

Issue of Options

Malvern International plc (AIM: MLVN), the global learning and skills development partner, announces that it has restructured its share option awards to provide better aligned management incentives with shareholder returns.

As at 1 October 2025 the Company had outstanding options awards for 11 management personnel over 2,152,000 shares, representing 8.8% of the Company's issued share capital at that date. These options had exercise prices of between 10p and 24p and were subject to tiered vesting conditions on the attainment of share prices between 50p and 150p.  Some of these options have subsequently lapsed. The Remuneration Committee believes the remaining were not providing a meaningful retention incentive for management and were not  aligning their potential financial benefits with those of shareholders. Therefore all existing options are being cancelled.

New options are being granted to 12 members of the management team, including two executive directors and another person discharging managerial responsibility ("PDMR"). In aggregate, 2,635,000 options are being granted, which will represent approximately 7.9% of the Company's current issued share capital.

The options will have a ten year life and an exercise price of 21 pence per share, being the closing price of the Company's shares on 15 July 2026. All the awards vest in tranches after two or three years,  subject to the attainment of certain tiered share prices. Of the options being awarded:

·    854,000 will vest at 45p;

·    734,000 will vest at 80p;

·    598,000 will vest at 120p; and

·    449,000 will vest at 150p.

The table below shows the awards being made to Richard Mace and Daniel Chaffer (executive directors) and Stephen Harvey (PDMR).

For further information, please contact:

Notes to Editors:

Malvern International is a learning and language skills development partner, offering international students essential academic and English language skills, cultural experiences and the support they need to thrive in their academic studies, daily life and career development.

University Pathways provides on- and off-campus in-sessional and pre-sessional programmes to support international students in progressing to a wide range of universities and undergraduate courses. Malvern assists its university partners with international student recruitment and conversion, admissions, fee collection, and course delivery, including teaching, orientation, and student support.

English Language Teaching is provided to young learners through fully immersive residential English language centres and customised language programmes at high-quality locations.

For further investor information go to www.malverninternational.com.