6 September 2023

Restore plc

("Restore" or the "Group" or "Company")

Significant Digital contract win with HMRC

Restore (AIM: RST), the UK's leading provider of digital and information management and secure lifecycle services, is delighted to announce a significant Digital contract win with His Majesty's Revenue and Customs ("HMRC"). The contract, valued at up to £140 million (dependent on transactional volumes), spans a duration of 5 to 7 years and is expected to commence in September 2024.

The new contract follows the successful outcome of a public procurement process which will see Restore taking on responsibility for three service towers on behalf of HMRC - outbound print and messaging (SMS, email, rich messaging) services will be managed by Restore but sub-contracted to two strategic partners, as well as the inbound mailroom and scanning services which Restore already currently provides to HMRC under its existing contract. Within this service, Restore will deliver a communications platform, working with its strategic partners, aimed at moving HMRC's customers to digital communications. Through this partnership, Restore will support the transformation of HMRC's operations into a cutting-edge digital solution and at the same time, deliver for HMRC a reduction in paper consumption by the end of the contract term.

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