27 April 2023

Nichols plc

(the "Company" or "Group')

Grant of SAYE Options and PDMR Dealings

Nichols plc, the diversified soft drinks Group, announces that it has launched two 2023 Save As You Earn Schemes (the "2023 SAYE Scheme") for all eligible employees, one offering saving plans over 3 years, the other 5 years.

Employees were invited to subscribe for options ("Options") over the Company's ordinary shares of 10p each in the Company ("Ordinary Shares") which have been granted on 26 April 2023 at an exercise price of 896 pence in accordance with the terms of the 2023 SAYE Scheme. This represents a discount of 20% from the average mid-market closing price for an Ordinary Share on the 3 business days from Friday 31 March 2023 to Tuesday 4 April 2023 prior to the invitation made to all eligible employees on Tuesday 11 April 2023.

A total of 99 employees have participated in the scheme and 64,221 Options have been granted representing 0.17% of the Company's issued share capital.

The following Persons Discharging Managerial Responsibility ("PDMRs") have chosen to participate in the 2023 SAYE Scheme:

PDMR                                Title                                                          Number of Options Granted     

Andrew Milne                   Chief Executive Officer                                  1,205

Sarah Caddy                       Legal Director                                                    2,008

Matthew Nichols             International Director                                    1,674

Nicholas Gamble              UK Commercial Director                                                2,008

Gary Brookes                     Supply Chain Director                                     401

Contacts

Notes to Editors:

Nichols plc is an international diversified soft drinks business with sales in over 73 countries, selling products in both the Still and Carbonate categories. The Group is home to the iconic Vimto brand which is popular in the UK and around the world, particularly in the Middle East and Africa. Other brands in its portfolio include SLUSH PUPPiE, Feel Good, Starslush, ICEE, Levi Roots and Sunkist.

For more information about Nichols, visit: www.nicholsplc.co.uk

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.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them