24^th April 2026

(the "Company" or the "Group")

Grant of Options

Nichols plc, the diversified soft drinks Group, announces that on 20 April 2026 it made awards of nil cost options over ordinary shares of 10p each ("Awards" and "Ordinary Shares") to Matthew Rothwell, a person discharging managerial responsibility ("PDMR") of the Company.

The Awards have been granted over a maximum number of Ordinary Shares shown below. The Award is being made under the terms of the Nichols Long Term Incentive Plan ("LTIP").

Two awards have been granted to Matthew Rothwell as follows:

An annual Long Term Incentive Plan ("LTIP") award, which will vest on the third anniversary of the grant date, subject to continued employment and the achievement of the applicable performance conditions.

A further award, in accordance with the offer detailed in the Company's 2025 Annual Report, has been granted to compensate for incentives forfeited upon joining the Group. This replacement award will vest in three equal tranches on the first, second and third anniversaries of the grant date, namely 20 April 2027, 20 April 2028, and 20 April 2029, subject to continued employment within the Group. No additional performance conditions apply to this award. The market value of the award at grant was £150,000.

The details of the Awards are as follows:

Contacts

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