25 March 2026

Volex plc

("Volex", the "Company", or the "Group")

Trading update and Notice of Capital Markets Event

Strong ongoing performance drives upgraded expectations for FY2026

Volex plc (AIM: VLX), the specialist integrated manufacturer of critical power and data transmission products, is pleased to announce a trading update for the year ending 31 March 2026.

Separately, the Company today announces that the Board is considering moving the Company's listing venue to the Main Market of the London Stock Exchange. Volex will also host a Capital Markets Event for institutional investors and analysts on Wednesday 22 April 2026.

Continued outperformance driven by strong data centre product demand

The Group has continued to trade well through the second half of FY2026, with full year results now expected to be significantly ahead of current market expectations¹.

The Board now expects Group revenue for FY2026 to be at least $1,220 million. Underlying operating² margins are expected to be slightly above the top end of the Group's 9-10% target range, reflecting both operating leverage from higher revenues and a continued focus on operational efficiency.

The outperformance has been driven primarily by the Group's Complex Industrial Technology division with continued high demand for the Group's high-speed data transmission products driven by data-intensive artificial intelligence applications. As a result, full year data centre revenues are now expected to be approximately double the $118 million achieved in the prior year.

This performance includes a contribution from the fulfilment of accelerated customer requirements, where the Group has been able to respond rapidly to customers' near-term capacity needs in situations where other suppliers have not been able to meet those needs. This reflects the benefits of Volex's global footprint and scale, which enable us to provide responsive, localised service wherever our customers need it. The Board is encouraged by the strength of the Group's positioning in this market, although this particular dynamic may not recur at the same level in FY2027.

The Group's other end markets, Electric Vehicles, Consumer Electricals and Medical, the other elements of Complex Industrial Technology and Off-Highway, have each traded broadly in line with the first half of the year, delivering robust contribution and underpinning the Group's diversified revenue base.

The Group has limited direct exposure to the markets most immediately affected by the current geopolitical uncertainty in the Middle East. While the situation remains fluid, and the broader macroeconomic implications are difficult to predict, the Board does not currently anticipate a material impact on the Group's operations or near-term outlook given the diversity of the Group's end markets and geographic configuration.

Capital markets event to outline new medium-term growth plans

Volex will host a Capital Markets Event for institutional investors and analysts at 14.00 on Wednesday 22 April 2026, at the offices of Peel Hunt LLP, 100 Liverpool Street, London, EC2M 2AT.

The event will be hosted by Dave Webster, Chair, Nat Rothschild, Chief Executive Officer, Jon Boaden, Chief Financial Officer and John Molloy, Group Chief Operating Officer, alongside other members of the senior management team. The Capital Markets Event will set out the Company's new medium-term growth targets and the key structural drivers underpinning the Board's confidence in achieving them.

Institutional investors who are interested in attending in person should contact Sodali at Volex@sodali.com.

Consideration of move from AIM to the Main Market

Volex joined AIM in 2018 and since that time, the Company has grown materially in respect of revenues, profitability and market capitalisation. The Group is now a leading global provider of high-quality, diverse power and data connectivity solutions with a unique global footprint spanning 25 countries and over 13,000 employees.

In conjunction with the expectation of being eligible for inclusion in the FTSE250 Index, the Board of Directors of Volex (the "Board") believes that a move to the Main Market would facilitate access to deeper pools of capital and a broader range of investors, supporting increased liquidity in trading of the Group's shares. 

The Board also believes that a Main Market listing would increase the corporate profile of the Company and enhance its reputation with a larger and more global customer base. 

An update will be provided following consultation with the Company's largest shareholders.

Nat Rothschild, Chief Executive Officer of Volex, commented:

"Our performance during the period is testament to the exceptional business we have built and the acceleration in our Data Centre business this year is a direct consequence of the strategic investments we have made in engineering capability, manufacturing capacity and our ability to respond to rapidly evolving customer requirements.

"With revenue now expected to exceed $1.2 billion and margins above the top end of our target range of 9-10%, the scale and quality of our business has never been stronger. The Board believes the Group has reached a level of scale, profitability and international breadth where it is right to consider a listing on the Main Market of the London Stock Exchange. As such, we will be consulting our largest shareholders to understand their views on this matter.

"At our Capital Markets Day on 22 April, we will set out our plans for the next phase of our value creation journey, including the medium-term strategic ambitions and financial objectives that will shape our journey over the coming years. We look forward to sharing our plans for the next phase of Volex's growth with the market."

-ENDS-

¹As at 23 March 2026, the average of company compiled analysts' forecasts for the year ending 31 March 2026 for revenue is $1,173.0 million with a range of $1,149.3 million to $1,192.2 million, the average for underlying operating profit is $114.8 million, with a range of $111.5 million to $117.0 million.

²Underlying operating profit is before adjusting items which are one-off in nature and significant (such as restructuring costs, impairment charges or acquisition-related costs), the amortisation and impairment of acquired intangible assets and share-based payment charges. This trading update is based upon unaudited management accounts information. Forward-looking statements have been made by the Directors in good faith using information available up until the date that they approved this statement. Forward-looking statements should be regarded with caution because of the inherent uncertainties in economic trends and business risks.

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

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About Volex plc

Volex plc (AIM:VLX) is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions. Our diverse operations support international blue-chip customers in five key end-markets: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway. Headquartered in the UK, we orchestrate operations across 23 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations. Our extraordinary products find their way to market through our localised sales teams and authorised distributor partners, supporting Original Equipment Manufacturers and Electronic Manufacturing Services companies across the globe. In a world that grows more digitally complex by the day, customers trust us to deliver power and connectivity that drives everything from household essentials to life-saving medical equipment. Learn more at www.volex.com.