Somero Enterprises, Inc.

("Somero" or "the Company")

AGM Statement

Somero Enterprises, Inc. is pleased to provide an update ahead of its Annual General Meeting to be held on 17 June 2026, at 9 a.m. local time at 46980 State Hwy M26, Atlantic Mine, Michigan 49905 USA and via webcast .

Stabilization in US private non-residential construction, the Company's largest market, continued and the positive trading momentum from the end of 2025 carried over with trading in the five months ended 31 May 2026 tracking well against the full year ending 31 December 2026 guidance provided in the 10 March 2026 final FY 2025 results statement. The Board looks forward to providing a more detailed trading update covering the first six months of FY 2026 in July.

The 30 April 2026 Director Succession Update outlined the planned replacement of Larry Horsch. The Board has since commenced a search for an independent non-executive director with the assistance of a executive search and leadership advisory firm, which is expected to conclude by year end. The Board is focused on appointing an individual whose skills and experience complement the existing Board and strategically drive long-term value creation.  

Simultaneously, with the executive team now fully established and the search for a new independent non-executive director underway, the Board will consider updated recommendations set forth in the 2023 edition of the Quoted Companies Alliance Code (the Code).

In addition, the Board, with the assistance of its advisors, is taking this opportunity to conduct a thorough review of the Company's governance arrangements and legal constitution and will make any appropriate changes the Board believes stand to benefit all Somero's stakeholders. This may require a general meeting of the company later in the year at which shareholders would vote on any proposed changes.

The Annual General Meeting will be held via webcast and participation is encouraged by registering online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=Mlg0GPTN. This link can also be found on our website at https://investors.somero.com/ along with dial-in numbers for telephonic participation.

For further information, please contact: