FOR IMMEDIATE RELEASE

29 March 2022

Mulberry Group plc

Trading Update and notice of Full Year Results

Full year revenue and profit to be moderately ahead of expectations 

This announcement contains inside information as defined in Article 7 of the Markets Abuse Regulation.

Mulberry Group plc (the "Group" or "Mulberry"), the British sustainable luxury brand, announces a trading update for its financial year ending 2 April 2022 ("FY22").

The robust sales trend delivered in the first half of FY22 has continued throughout the second half, which will result in Group revenue for FY22 being moderately ahead of current expectations. Gross margins have been maintained.

Mulberry has taken this opportunity to increase its marketing investment in the second half of FY22 to further build global brand awareness. Despite this additional expenditure, the profit for FY22 will be moderately ahead of current expectations.

The Group's balance sheet remains strong with net cash balances at FY22 expected to be in excess of £20 million. The Group intends to announce its FY22 results on 29 June 2022.

Enquiries:

The person responsible for arranging the release of this announcement on behalf of the Company is Charles Anderson, Group Finance Director.