30 September 2025

Selkirk Group Plc

("Selkirk" or the "Company")

Strategy update and interim results for the period to 30 June 2025

Selkirk Group PLC, the AIM investment vehicle focused on acquiring undervalued companies or businesses in the consumer, e-commerce, technology and digital media sectors, is pleased to announce its consolidated unaudited interim results for the period from incorporation to 30 June 2025 alongside a strategy update.

Strategy update

Selkirk was admitted to trading on AIM in November 2024, raising gross proceeds of £7.5 million. The Company's primary objective is to acquire a company or operating business, which the directors believe is undervalued and capable of benefiting from its own quotation or listing. Since admission, the Company has actively evaluated a diverse pipeline of opportunities but has not yet secured a transaction that meets its investment criteria.

In April 2025, Selkirk responded to a public announcement by THG plc ("THG") regarding its preliminary conditional offer to acquire MyProtein (the "Offer") for between £400 - £600 million, subject to the completion of necessary due diligence. Despite constructive discussions, THG's board ultimately concluded that a transaction could not be agreed. While Selkirk does not share THG's conclusions provided, we understand that given the Offer was not fully funded, the uncertainties surrounding financing were a concern at the time for THG in progressing with a transaction.

As we look ahead, we have no shortage of opportunities and we continue to follow a systematic approach to company evaluation using the analytical capability of our partners at Belerion Capital and Kelso. The majority of opportunities currently being assessed are private businesses looking to secure funding through a London listing. However, in recent years, the UK market has seen a large number of public companies being taken private, many avoiding the public markets altogether by securing private financing and others perhaps even considering a US listing. For various reasons, London seems to be failing to attract and retain the very best companies which is disappointing given the UK's proud history as a home for global capital. Selkirk hopes to be part of the revival of the UK market and there are some encouraging signs. However, we would encourage the Government to consider measures to stimulate the London markets and are always happy to engage in discussions on something we so passionately believe in.

In the meantime, the Company's cash resources are being prudently managed, ensuring that interest income broadly covers our ongoing monthly operating costs. As at 30 June 2025, the Company had cash of £7.0m, equal to the net proceeds raised at IPO. We can therefore be patient in selecting the right opportunity for Selkirk's shareholders, without being under pressure to complete a transaction.

Outlook

Selkirk is actively assessing a number of interesting opportunities at present across its target sectors and will update shareholders as appropriate in due course.

The Board wishes to thank its shareholders for their patience, support and engagement since its inception.

Iain McDonald, Chairman, Selkirk Group Plc, said:

"The board and our advisors have an active pipeline and continue to assess a number of exciting opportunities. We will update the market as appropriate and thank our shareholders for their support"

For further information, please contact:

Condensed Interim Consolidated Statement of Comprehensive Income For the six months ended 30 June 2025 (Unaudited)

Condensed Interim Consolidated Balance Sheet As at 30 June 2025 (Unaudited)

Condensed Interim Consolidated Changes in Equity As at 30 June 2025 (Unaudited)

Condensed Interim Consolidated Statement of Cash Flows As at 30 June 2025 (Unaudited)

Notes to the interim results

1.    Basis of preparation

Selkirk Group Plc is a public limited company incorporated in the United Kingdom under the Companies Act 2006 (registration number:15975897). The Company's ordinary shares are admitted to trading on the main market of the London Stock Exchange.

These interim financial statements for the six months ended 30 June 2025. should be read in conjunction with the financial statements for the year ended 31 December 2024, which have been prepared in accordance with International Financial Reporting Standards ("IFRSs") as applied in accordance with the provisions of the Companies Act 2006. The interim report and accounts do not include all the information and disclosures required in the annual financial statements.

2.    Material accounting policies

The interim report and accounts have been prepared in accordance with IAS34 (Interim Financial Statements) and on the basis of the accounting policies, presentation and methods of computation in accordance with International Financial Reporting Standards ("IFRSs") as applied in accordance with the provisions of the Companies Act 2006 except for those that relate to new standards and interpretations effective for the first time for periods beginning on (or after) 1 January 2025 and will be adopted in the 2025 annual financial statements.

The financial information is presented in Pounds Sterling, rounded to the nearest pound and has been prepared under the historical cost convention.

The interim report and accounts do not comprise statutory accounts within the meaning of section 434 of the Companies Act 2006. These interim financial statements were approved by the Board of Directors on 29 September 2025. The results for the six months to 30 June 2025 and the comparative results for the period from incorporation on 24 September 2024 to 31 December 2024 are unaudited.

3.    New accounting standards adopted at 1 January 2025

There are no significant pronouncements which have become effective from 1 January 2025 that have a significant impact on the Group's interim condensed consolidated financial statements.

4.    Directors remuneration

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, including the directors of the Company listed in the Directors' report.

5.    Profit / (Loss) per share

Basic profit/(loss) per share is calculated by dividing the profit/(loss) attributable to equity holders of the Group by the weighted average number of ordinary shares in issue during the period.

6.    Events after the reporting period

There were no events after the interim report date to disclose.

7.    Current liabilities

8.    Share capital

On 24 September 2024, Selkirk Group Plc issued 50,000,000 ordinary shares at par for a value of £50,000. On 24 October 2024, 55,000,000 ordinary shares were issued at par for a value of £55,000. On the 7 November 2024, an additional 310,937,487 ordinary shares were issued for £7,462,500. The total number of ordinary shares in issue at 30 June 2025 was 415,937,487. All the shares have the same right to receive dividends and the repayment of capital and represents one vote at the shareholders' meeting.

9.    Related Party transactions

As stated in the directors remuneration note 4, the directors salaries for the period to 30 June 2025 amounted to £55,606 (Period to 31 December 2024: £19,650).

The Company also paid its substantial shareholder, Kelso Group Holdings plc, fees of £25,000 (Period to 31 December 2024: £7,427 for the services pursuant to the secondment agreement entered into at admission

10.  Distribution of Interim Reports

A copy of the interim report will be available shortly on the Group's website (www.Selkirkplc.com)