For Immediate Release                                                                                          1 June 2022

Victoria PLC

('Victoria' or the 'Group')

Victoria Announces CFO Transition

Victoria PLC (LSE: VCP), the international designer, manufacturer and distributor of innovative flooring, today announces the upcoming departure of Mike Scott, after more than six years as Victoria's Chief Financial Officer. Mike has decided to retire from Victoria later this year for personal and family reasons. He will be succeeded by Brian Morgan, who has been selected by Victoria's Board following an extensive search.

Transition

Mike will continue in his role until Brian starts on 22 August 2022 and will then remain as a non-executive director until the following AGM to assist with the transition. Thereafter he will continue to be available as needed to assist Victoria as it continues to create wealth for shareholders.

Geoff Wilding, Chairman, commented:

"During Mike's time at Victoria, the Group has grown from a small UK-centric carpet manufacturer with revenues of c. £250 million in 2016 to a global flooring group with current annual revenues of c. £1.5 billion. In line with this growth, Mike has led the Group through several successful capital raising processes, most recently the €750 million senior bond issue in March 2021, the (undrawn) £150 million revolving credit facility, and the £150 million follow-on preferred equity issue in January this year. Mike has also built a strong, integrated finance team that includes c. 20 senior finance professionals across eight countries. As you would expect from Mike, he leaves us in a thoughtful way, with a transparent and long-planned timeline, a robust succession plan, and a strong finance team. The Board would like to thank Mike for his contribution.

On behalf of the Board and all at Victoria, we are delighted to welcome Brian as our new CFO. Brian's considerable experience and knowledge will be extremely beneficial for Victoria's continued growth and we look forward to updating shareholders on our progress."

Mike Scott, Chief Financial Officer, said:

"It's been a privilege to be a part of Victoria's journey and part of the management team. I'm a 100% believer in Victoria's future and will be remaining a long-term shareholder. I have been working to ensure a smooth transition to my successor, Brian, who is uniquely qualified to take on this role and will continue to drive Victoria's growth story with Geoff, Philippe and the rest of the team."

Brian Morgan

Brian is joining Victoria from FTSE250 group, Synthomer plc, where he has been Director of Group Finance since 2017.

Brian has spent his entire career operating across multi-national companies like Victoria and has a proven ability to adapt to vastly different business cultures, having managed teams across the globe. His global remit has given him a deep understanding of cross-jurisdictional accounting.

Victoria's Board was attracted to the fact that, in addition to his responsibility for accounting, financial reporting, budgeting, treasury, and tax, Brian has a strong M&A background having previously been part of the Corporate Finance team at a Big-Four firm and more recently leading the Synthomer finance team through five acquisitions, including two transformational deals of c. $1 billion each. He also led the business' issuance of €520 million senior bonds in June 2020.

Apart from possession of the requisite CFO skills, the Board focussed on finding someone with experience of high-growth and entrepreneurial environments, who would be a good cultural fit and know how to continue to develop Victoria's strong governance and control mechanisms further.

Brian adds to the strong bench of management talent carefully built at Victoria over the last nine years.

Disclosures in accordance with the AIM Rules

Brian Morgan, aged 49, is, or has been, a director of the following companies during the past five years:

·    Synthomer Trading Limited

·    Synthomer Jersey Limited.

Mr Morgan owns no shares in Victoria.

There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.