Update on Intention to Appoint Administrators

THE INFORMATION COMMUNICATED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Surface Transforms plc

("Surface Transforms" or the "Company")

Update on notice of intention to appoint administrators

Surface Transforms (AIM: SCE) manufacturers of carbon fibre reinforced ceramic automotive brake discs, provides the following update on its intention to appoint administrators (the "NOI").

Following the announcement on 12 March 2026, the Company confirms that a second NOI has today been filed at the High Court to appoint Michael Magnay, Jonathan Marston, and Joanna Bull of Alvarez & Marsal Europe LLP ("Alvarez & Marsal") as Joint Administrators. The NOI protects the Company against any creditor enforcement action for a further period of 10 working days.

This filing follows the Company launching a strategic review and formal sale process, announced on 20 March 2026. The Company is continuing to work alongside Alvarez & Marsal to explore all options and is engaged in discussions with potential interested parties.   

Notwithstanding the settled intention of the Board to appoint Joint Administrators, the second NOI provides time for the Company and Alvarez & Marsal to progress discussions with the aim of maximising value for all stakeholders.

Further updates will be provided by the Company in due course.

For enquiries, please contact:

About Surface Transforms

Surface Transforms plc. (AIM:SCE) develops and produces carbon‐ceramic material automotive brake discs. The Company is the UK's only manufacturer of carbon‐ceramic brake discs, and only one of two mainstream carbon ceramic brake disc companies in the world, serving customers that include major OEMs in the global automotive markets.

The Company utilises its proprietary next generation Carbon Ceramic Technology to create lightweight brake discs for high‐performance road and track applications for both internal combustion engine cars and electric vehicles. While competitor carbon‐ceramic brake discs use discontinuous chopped carbon fibre, Surface Transforms interweaves continuous carbon fibre to form a 3D matrix, producing a stronger and more durable product with improved heat conductivity compared to competitor products; this reduces the brake system operating temperature, resulting in lighter and longer life components with superior brake performance. These benefits are in addition to the benefits of all carbon‐ceramic brake discs vs. iron brake discs: weight savings of up to 70%, longer product life, consistent performance, reduced brake pad dust and corrosion free.

The Company holds the London Stock Exchange's Green Economy Mark.

For additional information please visit www.surfacetransforms.com