Response to Volex no intention to bid statement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

12 December 2024

Response to Volex plc no intention to bid statement

TT Electronics plc ("TT Electronics" or the "Company") notes the announcement made by Volex plc ("Volex") earlier today that it does not intend to make an offer for TT Electronics. As a result of the announcement, Volex is bound by the restrictions contained in Rule 2.8 of the City Code on Takeovers and Mergers.

The Board continues to have confidence in the Company's medium-term financial framework, including a 12% operating margin by 2026, which assumes a reasonable recovery in the components market and is underpinned by the good momentum in our European and Asian businesses, alongside the impact of Project Dynamo. The outlook for the Company for the year ending 31 December 2024 is unchanged.

TT Electronics' results for the year ending 31^st December 2024 will be announced in March 2025.

Enquiries

MHP Communications                                                                         +44 (0)7817 458804

Tim Rowntree / Ollie Hoare