Somero Enterprises, Inc.

("Somero" or "the Group")

Launch of 2026 Share Buyback Programme  

Somero Enterprises Inc. is pleased to announce that it has authorized a new share buyback program for 2026, pursuant to which, the Board intends to carry out a buyback of up to US$ 4.0m of ordinary shares (the "2026 Buyback Programme").

Somero continues to employ a disciplined approach to investment, returns and capital efficiency to deliver sustainable compounding growth whilst also maintaining a strong balance sheet.  Having taken into consideration recent trading and the payment of declared dividends, the group has capacity to propose an additional return of capital to shareholders via the 2026 Buyback Programme. Accordingly, the Board considers that the 2026 Buyback Programme is prudent, reflects the cash generative ability of the Group and maintains a strong balance sheet consistent with the Company's capital allocation policy.

Pursuant to the 2026 Buyback Programme the Company has entered into a non-discretionary instruction with Cavendish Capital Markets Limited ("Cavendish") to purchase up to $4.0 million (excluding expenses) of the Company's Ordinary Shares (the "Ordinary Shares") and to make trading decisions under the 2026 Buyback Programme independently of the Company in accordance with certain pre-set parameters. The 2026 Buyback Programme will commence today and end no later than 30 June 2027. From time to time, the Board will assess the progress of this 2026 Buyback Programme in light of the Company's capital allocation needs and revisit the parameters if necessary.

The purpose of the 2026 Buyback Programme is to reduce the share capital of the Company. As such, the Company intends to cancel any Shares purchased.

The 2026 Buyback Programme, will be conducted on the following basis:

·      Cavendish will manage the purchases on a discretionary basis, purchasing Ordinary Shares within certain pre-set parameters and making its trading decisions independently of, and uninfluenced by, the Group. Purchases may therefore continue during any closed periods of the Group.

·      The Programme will operate under the authority granted to the Group by shareholders at the Group's most recent Annual General Meeting, held on 18 June 2025.

·      Any Shares purchased will be cancelled.

·      The Group has authorised the 2026 Buyback Programme to commence with immediate effect and will continue whilst it retains the authority from shareholders to repurchase Shares until the Expiry Date.

·      Shareholders should be aware that the Programme may on any given trading day represent a significant portion of the daily traded volume in the Group's Shares on the London Stock Exchange, and the Group expects daily volumes may exceed 25% of the average daily traded volume on the London Stock Exchange. Accordingly, the Group may not benefit from the exemption contained in Article 5(1) of MAR.

Outside of the above, the Programme will be conducted in accordance with the other safe harbour parameters as prescribed by MAR.The maximum price which may be paid for an Ordinary Share pursuant to the 2026 Share Buyback Programme is an amount equal to the higher of: (i) 105 per cent. of the average of the middle market quotations for an Ordinary Share for the five dealing days immediately preceding the day on which the Ordinary Share is purchased; and (ii) the value of an Ordinary Share calculated on the basis of the higher of the price quoted for: the last independent trade of, and the highest current independent bid for, any number of the Ordinary Shares on the trading venue where the purchase is carried out. The minimum price which may be paid for an Ordinary Share is an amount equal to its nominal value.

Any market repurchase of Ordinary Shares will be announced in accordance with the relevant legislation.