8 June 2026

REVOLUTION BEAUTY GROUP PLC

("Revolution Beauty", the "Group" or the "Company")

NEW LICENSING PARTNERSHIP WITH DEBENHAMS GROUP

Revolution Beauty (AIM:REVB), the multi-channel mass beauty brand, is pleased to announce that the Boards of Debenhams Group and Revolution Beauty have agreed a new licensing partnership to develop beauty and fragrance products across Debenhams Group brands.

The partnership combines Revolution Beauty's expertise in developing, manufacturing and distributing beauty products with the strength and reach of Debenhams Group's full brand portfolio of fashion and lifestyle brands.

The first collections are expected to launch ahead of Christmas and will include fragrance and gifting ranges for PrettyLittleThing, Karen Millen and boohooMAN. Further beauty and fragrance launches are planned across a number of Debenhams Group brands, with products expected to be available through both Debenhams Group channels and selected retail partners.

Tom Allsworth, CEO of Revolution Beauty, said: "We are delighted to formally announce our partnership with Debenhams Group. The team at Revolution is already at an advanced stage in developing fragrance products that will launch nationally and internationally through a number of our retail partners. The early reaction to the concepts we have tested has been exceptionally positive.

"Since returning to the business last year, our relationship with Debenhams Group has been completely reset and it is gratifying to see that reflected in a formal partnership between the two businesses. By combining the strength of Debenhams Group's brands with Revolution's expertise, we believe these licences can become a significant growth opportunity for both businesses."

Dan Finley, CEO of Debenhams Group, said: "We have been clear that we see significant global licensing opportunities for our brands, and this agreement with Revolution Beauty is a direct expression of our asset-lite strategy in action. Beauty is one of the most compelling category opportunities available to us and Revolution Beauty has the capability and relationships to bring tailored collections to market across the full portfolio. We look forward to seeing the first launches come to life.

"The agreement is structured as a royalty-based license, where Revolution Beauty assumes full responsibility for product development, manufacturing, and worldwide distribution and will pay to Debenhams Group an industry-standard royalty based on sales of the products developed. Debenhams Group retains brand approval rights over all products, packaging, marketing, and retail channel decisions.

"This transaction is consistent with Debenhams Group's strategy of generating significant recurring royalty income from its IP portfolio through global licensing opportunities, extending its brands into high-growth adjacent categories, and accelerating its transition to an asset-lite business model."  

Related party transaction for Revolution Beauty

The licensing agreement with Debenhams Group constitutes a related party transaction for Revolution Beauty under Rule 13 of the AIM Rules for Companies by virtue of Debenhams Group being a substantial shareholder of Revolution Beauty. The directors of Revolution Beauty, who are all independent of Debenhams Group, consider, having consulted with the Company's nominated adviser, Strand Hanson Limited, that the terms of this related party transaction are fair and reasonable insofar as the shareholders of Revolution Beauty are concerned.

This announcement contains inside information for the purposes 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.

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About Revolution Beauty

Revolution Beauty is a global mass beauty and personal care business which operates a multi brand, multi category strategy and sells its products both direct-to-consumer (DTC) via its e-commerce operations, and in physical and digital retailers through wholesale relationships.

Today, the Group has a retail footprint of c.17,500 doors across leading retail chains in the UK, USA and other international markets. Revolution Beauty has access to a wide customer base, predominantly aged between 16 and 35, through its digital partners and own DTC platform. It has established and invested to streamline its supply chain with its own manufacturing facility in the UK, and third-party warehousing facilities across the UK and in the USA. The Group has offices in the UK and the USA. Revolution Beauty currently employs 231 people.