LEI:2138009JDFQOXJFCJQ05

17 April 2026

Palace Capital PLC

 ("Palace Capital" or the "Company") 

Share Buyback Programme

The Board of Directors (the "Board") of Palace Capital announces it has approved a share buyback programme of up to 400,000 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") (the "Buyback Programme") as the initial step of a wider capital return programme it is progressing with its advisers.

The Company has instructed Cavendish to conduct the Buyback Programme on its behalf on a broker-managed basis, with trading decisions taken independently of the Company based parameters set by the Board. The Buyback Programme commences today and will end no later than six months from today, on 17 October 2026, or earlier if the maximum number of Ordinary Shares has been reached or the Company's buyback authority is not renewed at or before its next annual general meeting.

The Buyback Programme will be conducted in accordance with the terms of the Company's authority to make market purchases of its own Ordinary Shares granted to it by shareholders on 9 July 2025 (the "Authority"), including that the price paid per Ordinary Share will not be less than the nominal value of the Ordinary Shares, and the maximum price paid per Ordinary Share (excluding expenses) will be no more than the higher of either 105 per cent. of the average middle market closing price of an Ordinary Share as shown on the Daily Official List for the five business days preceding the date of any buyback; and an amount equal to the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share on the trading venue where the purchase is carried out.

The Authority will expire on 9 October 2025 or, if earlier, at the conclusion of the Company's next annual general meeting ("AGM"), at which a proposal (amongst others) will be put to shareholders to renew the Company's ability to make market purchases of its Ordinary Shares.  Accordingly, the Buyback Programme will continue after that date pursuant to such renewed authority and will be conditional on the approval of the same by shareholders. The Company intends to hold all Ordinary Shares so purchased in treasury during the course of the Buyback Programme and, following completion of the Buyback Programme, will seek to cancel the Ordinary Shares.

Due to the limited liquidity in the issued Ordinary Shares, a buyback of Ordinary Shares pursuant to the Authority (or its successor) on any given trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares on the London Stock Exchange and could exceed 25 per cent. of the average daily trading volume and, accordingly, the Company will not benefit from the exemption contained in Article 5(1) of Regulation (EU) No. 596/2014 as adopted into UK law by the European Union (Withdrawal) Act 2018.

The Company will make further announcements in due course following any share purchases under the Buyback Programme.

Enquiries:

Palace Capital plc
Christian Kappelhoff-Wulff, Non-Executive Chairman
[email protected]

Financial PR

FTI Consulting
Dido Laurimore / Andrew Davis

Tel: +44 (0)20 3727 1000

[email protected]

Broker

Cavendish

Matt Lewis, Head of Corporate Broking
Tel: +44 (0)20 7397 1920
[email protected]

This announcement contains inside information for the purposes of Article 7 of the UK version of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended.