20 April 2026

Stelrad Group PLC

Appointment of Independent Chair Designate

Directorate Changes

Stelrad Group plc ("Stelrad" or "the Group" or "the Company", LSE: SRAD) is pleased to announce the appointment of Martyn Coffey as Independent Non-Executive Director and Chair Designate with effect from 1 May 2026. 

Martyn will succeed Bob Ellis as Chair following the conclusion of the Company's Annual General Meeting on 20 May 2026. 

Martyn Coffey is an accomplished Non-Executive Director with extensive board experience across the manufacturing, HVAC, building materials and construction sectors. Martyn is currently a Non-Executive Director at Taylor Wimpey plc and a Non-Executive Director and Chair of the Remuneration Committee at Luceco plc. His distinguished executive career notably included 11 years as CEO of Marshalls plc, a FTSE 250 company, and as CEO of Baxi Group, manufacturer of heating and hot water solutions.

Bob Ellis, Chair of Stelrad said:

"I have greatly enjoyed my role as Chair since 2013 and supporting the Company's progress since its flotation in 2021. I am very pleased to welcome Martyn to the Board.  He brings a strong external perspective, and I have every confidence in his leadership."

Commenting on his appointment, Martyn Coffey, Chair designate, said:

"I am delighted to be joining Stelrad and enthused by the opportunity ahead. Stelrad is a quality business with excellent prospects, and I am looking forward to working with Trevor, Leigh, the Board and wider team to deliver sustainable growth and drive value for our shareholders."

Trevor Harvey, Chief Executive Officer said:

"I would like to thank Bob for his leadership during his tenure as Chair.  He has played a key role in Stelrad's continued development. I look forward to working with Martyn as our new Chair. He brings a valuable and complementary perspective from his executive and non-executive leadership roles, his experience in the UK listed company environment and his knowledge of the building products and HVAC industries."

In accordance with UKLR 6.4.8R, the Company confirms that Martyn Coffey has also held the following directorships in the past five years:

-     Executive Director at Marshalls plc

-     Non-Executive Director at Eurocell plc

The Board considers that Martyn Coffey will be independent on appointment as Chair for the purposes of the UK Corporate Governance Code.

There is no further information to be declared in accordance with UKLR 6.4.8R.

Directorate Changes

Bob Ellis will be resigning from his role as Board Chair with effect from the conclusion of the Company's 2026 AGM.  Mr Ellis is expected to continue to serve on the Board. The Bregal Fund III LP (the "Company's Major Shareholder") has stated its intention to nominate Mr Ellis as one of its Non-Executive Director appointments pursuant to the relationship agreement with the Company, replacing Nicholas Armstrong who would retire from the Board at the conclusion of the 2026 AGM. 

Irrespective of Mr Ellis's nomination, or (re)election, as a director appointment of the Company's Major Shareholder, as a holder of 49.55% of the issued share capital of the Company, the Company's Major Shareholder will continue to be bound by the mandatory offer provisions under Rule 9 of the Takeover Code.

As previously announced, Martin Payne, Non-Executive Director and Chair of the Audit and Risk Committee, has notified the Board that he will not be standing for re-election and will retire from the Board at the conclusion of the 2026 AGM. A replacement Non-Executive Director and Chair of the Audit and Risk Committee will be appointed in due course.

- ENDS -

For further information:

Notes to Editors

Stelrad Group plc is Europe's leading specialist radiator manufacturer, selling an extensive range of hydronic, hybrid, dual fuel and electrical heat emitters to more than 500 customers in over 40 countries. These include standard, premium and low surface temperature (LST) steel panel radiators, towel warmers, decorative steel tubular, steel multicolumn and aluminium radiators.

The Group has five core brands: Stelrad, Henrad, Termo Teknik, DL Radiators and Hudevad.  In the data reported by BRG Building Solutions for 2024, Stelrad extended its market leadership position, with 24.2% share by volume of the European steel panel radiator market, excluding Russia and Belarus.  The Group is now market leader in six countries - the UK, France, Belgium, the Netherlands, Ireland and Denmark, with a top three position in a further 12 territories. 

Stelrad is headquartered in Newcastle upon Tyne in the UK and in 2025 employed 1,300 people, with manufacturing and distribution facilities in Çorlu (Turkey), Mexborough (UK), Moimacco (Italy) and Nuth (Netherlands), with a further commercial and distribution operation in Krakow (Poland).

The Group's origins date back to the 1930s and Stelrad enjoys long established commercial relationships with many of its customers, having served each of its top five current customers for over twenty years.

Further information can be found at: https://stelradplc.com/.