8 September 2021

Ten Lifestyle Group plc

("Ten" or the "Group")

Full Year Trading Update and Notice of Results

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled global concierge platform for the world's wealthy and mass affluent, is pleased to announce a trading update ahead of its preliminary results for the year ended 31 August 2021.

The Group expects to report Net Revenue¹ that is in line with market expectations of £34.8m and below prior year (2020: £44.2m), due to the adverse effects of the COVID-19 pandemic.

Adjusted EBITDA² is expected to be marginally below the previous year's £4.8m, despite significantly lower Net Revenue; reflecting improved efficiencies and effective cost management in response to the effects of COVID-19 globally. 

The Group ended the financial year with a healthy net cash position of c.£6.6m, ahead of market expectation, and is debt free. 

In the last three months of the financial year to August, inbound requests from members, a lead indicator of improving demand, have increased across certain of Ten's core categories, such as hotels, dining and live events, to be at or above pre-COVID-19 levels for the same period in 2019.

The Group continued its investment in technology throughout the year to drive continued improvements in service levels, efficiencies and Ten's competitive advantage.

Alex Cheatle, CEO of Ten Lifestyle Group, said:

"We are pleased that our robust business model and the commitment of our team have allowed us to continue to deliver high quality services to our members and corporate clients. In the past quarter, activity from members has increased across many of our core service categories and supplier revenue, primarily from hotel bookings, has recovered to levels above the same period in 2019³, before the global pandemic.

We have increased our EBITDA percentage margin⁴, despite lower Net Revenue than last year, through cost management and improving efficiencies. This positions us well for the anticipated pick up in travel, dining and live events as COVID-19 restrictions ease across the world."

Notice of Preliminary Results

The Group expects to announce its preliminary results, for year ended 31 August 2021, on 24 November 2021.

The Group will be hosting an analyst presentation to accompany its preliminary results at 9am on 24 November 2021.

The Group will also be presenting an Investor Webinar for current and prospective investors at 5:30pm on 30 November 2021.

If you would like to attend either event, please email [email protected].

¹ Net Revenue excludes the direct cost of sales relating to certain member transactions managed by the Group.

² Adjusted EBITDA is operating profit/(loss) before interest, taxation, depreciation, amortisation, share-based payments and exceptional items.

³ Ten's revenue from its supplier base, such as hotels, airlines, and event promoters which sometimes pay commission to Ten constituted 12% of Net Revenue for the 2019 financial year (as reported in the 2019 Annual Report and Accounts).

⁴ Adjusted EBITDA margin is Adjusted EBITDA as a percentage of Net Revenue.

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 For further information, please visit https://www.tenlifestylegroup.com/ or contact:

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc is a leading technology-enabled, global concierge platform, helping wealthy and mass affluent individuals and their families to discover, organise, and enjoy dining, live entertainment, travel and premium retail (and other relevant services) with better results and more quickly than they could themselves.

Underpinned by industry-first technology, Ten provides its trusted concierge services to its more than 2 million members, 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the business listed on the AIM market of the London Stock Exchange in November 2017 (AIM: TENG).

The growth engine at the heart of Ten's business model is the driving force behind its progress towards its objective to become the most trusted service platform in the world.

 For further information please go to: www.tenlifestylegroup.com.