THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

FOR IMMEDIATE RELEASE

12 March 2026

On the Beach Group plc

("On the Beach" or the "Group")

AGM Trading Update and Notice of Results

On the Beach issues the following trading update, in advance of its Annual General Meeting to be held at 11:00am GMT today.

Performance from 1 October 2025 to 28 February 2026

Following another record year in FY25, momentum has continued into FY26, with:

·      FY26 bookings: +10%¹ and bookings from repeat customers +19%

·      Q1 FY26: travelled volumes +14%

·      Q2 FY26: travelled / departure volumes +34%.

The investments made in the Group's app functionality have resonated strongly with customers, resulting in a 58% increase in bookings made directly through the app across the period, representing 38% of total bookings. The Group's AI strategy continues to progress well, through integrations that connect its inventory to all major AI platforms. OTB recently submitted its app to ChatGPT, opening a new distribution channel and demonstrating the Group's technology readiness for an AI-first world.

Investment in technology has also enabled rapid expansion into City packages since launch in Q4 2024. On the Beach is currently taking bookings to 180+ City destinations and has more than doubled booking volumes year on year ("YoY"). International expansion through the sale of package holidays from the Republic of Ireland is progressing to plan and is also experiencing significant growth. The Group launched its Cruise offer early in FY26 and is well positioned to take share in this large, resilient, high growth market.

As the Group has demonstrated in prior years, OTB's low cost and flexible operating model is able to react to changes in the nature and timing of holiday booking demand. The later booking pattern experienced across the industry in FY25 has been more pronounced in FY26 and, as a result, bookings with less than 90-day lead times have been particularly strong, with YoY volume growth +28%.

Current trading from 1 March 2026

Whilst the Group has limited exposure to destinations in the Middle East, it has experienced a significant slowdown in demand following the onset of conflict in the region, particularly to destinations such as Turkey, Greece, Cyprus and Egypt. The timing of when the conflict will end and the shape of recovery in demand to these destinations are unknown. Both will impact Group profitability and as a result the Group is temporarily suspending its guidance of £39m to £43m Adj. PBT for the full year.

Despite the volatile environment, the Company continues to trade profitably and generate cash because of its asset light model with significantly lower fixed costs, commitments and exposure to increases in variable costs versus the asset heavy tour operators. The Board remains confident in the delivery of the Group's medium-term ambition of £2.5bn TTV, £100m EBITDA, £85m PBT and 38.7p EPS.

The Group will announce its Interim Results for the six months ending 31 March 2026 on 12 May 2026.

¹ Based on holidays sold during the period from 1 October 2025 up to and including 28 February 2026, before cancellations and amendments.

Shaun Morton, Chief Executive of On the Beach Group plc, commented:

"Momentum has been building since we entered 2026, recording our highest ever volume trading day on 1^st February and a 34% increase in Q2 travelled / departed volumes. Our customer loyalty continues to grow with repeat customers up 19% in the period. The advancements in both our proposition and app functionality are enabling customers to search great value holidays, be that in a city, on a beach or on a cruise ship, and app bookings have increased 58% as a result.

Following the onset of the conflict in the Middle East, our operational teams have been working round the clock to support directly impacted customers in resort and to enable a return home as soon as possible.

I am confident that On the Beach's enhanced strategy to scale into new markets, underpinned by its asset light operating model with no committed inventory to fill, remains a key competitive advantage."

ENDS

For further information:

About On the Beach

On the Beach Group plc is one of the UK's largest online package holiday specialists. We offer choice, value, flexibility and financial protection, powered by our proprietary technology platform.

With an asset-light, cash-generative model, we drive customer acquisition and loyalty through scalable technology, automation and operational efficiency, enabling us to grow profitably while helping more people holiday better and more often.

Renowned for beach package holidays, we have leveraged our expertise, technology and strong supplier relationships to broaden our addressable market, expanding into city breaks and cruise holidays, and offering our full range of holidays to customers in the Republic of Ireland.