THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018)

THIS IS AN ANNOUNCEMENT THAT FOLLOWS ON FROM AN ANNOUNCEMENT ON 24 APRIL 2023 THAT FALLS UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "TAKEOVER CODE")

25 April 2023

Smoove plc

(the "Company")

Update on alternative potential transaction

The Company announced on 24 April 2023 that it is in early stage discussions with PEXA Group Limited regarding a possible cash offer for the entire issued and to be issued ordinary share capital of the Company (the "Possible Offer").  As announced, there can be no certainty that an offer will be made for the Company, nor as to the terms on which an offer may be made.

In addition to the Possible Offer, the Board of the Company also announced that it was considering an alternative potential transaction proposed to it by a separate third party. Such transaction, if pursued, would not result in an Offer for the Company under the rules of the City Code on Takeovers and Mergers (the "Code"). The Company has now been notified by the third party that following disclosure of the possible offer it is discontinuing discussions in relation to this alternative potential transaction.

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