24 June 2026

Vulcan Two Group plc

(the "Company", "Group" or "Vulcan Two")

AGM Statement

Vulcan Two Group plc, the Company aiming to create the UK's leading regulated ePharmacy through buy-and-build, will be holding its Annual General Meeting today at 14:00. At the meeting, Susan Clement Davies, Non-Executive Chair of the Company, will make the following statement:

"The period under review was transformational for the Company and marked a significant step in the development of Vulcan Two, including the successful admission of the Company to AIM in September 2025, raising £12m with strong institutional support, and the establishment of a clear strategy to build the UK's leading regulated ePharmacy group through targeted acquisitions.

"Since listing, the Board and management team have moved at pace to execute this strategy. In March 2026, the Company completed a £40m fundraise and the acquisitions of CloudRx, Webmed and Hyperdrug, creating a diversified healthcare platform spanning both B2B and B2C digital pharmacy services.

"We have also strengthened the Group operationally and organisationally. The Company secured its 22,000 sq ft central distribution facility in Leeds, which we expect to complete the fit out of by the end of the year, and began implementation of a Group-wide ERP platform, whilst also investing in key hires across finance, operations and commercial functions. These initiatives are designed to support integration and create a scalable, efficient operating platform for future growth. Keith Butcher, the Group CFO, has also agreed to continue in his role beyond the initial 6-month minimum period announced on 12 January 2026.

"The regulated ePharmacy market presents a compelling long-term opportunity, supported by growing consumer demand for digital healthcare services, increasing online prescription fulfilment and continued pressure on healthcare systems to improve efficiency and accessibility. Vulcan Two's strategy is to position itself at the forefront of this structural market shift through disciplined acquisition and operational execution.

"The progress achieved since IPO has been excellent, as has the support received from institutional investors and the commitment shown by employees across the Group. While we remain at an early stage in the Group's development and are continuing to develop our understanding of the acquired businesses and their value drivers, we are encouraged by the progress to date and the opportunities to deliver further growth across the Group.

"The Board remains confident in the Group's long-term prospects and looks forward to updating shareholders further as we continue to execute our strategy and build shareholder value."

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Notes to Editors

Vulcan Two Group plc (AIM:VUL) is creating the UK's leading regulated ePharmacy platform, through its disciplined buy-and-build strategy. Following the acquisitions of CloudRx, Webmed and Hyperdrug in March 2026, the Group has established a diversified, profitable platform spanning B2B prescription fulfilment and B2C digital pharmacy services, with a high proportion of recurring revenues and strong cash generation. Future growth is expected to be supported through the acquisition of complementary businesses, expansion into new sectors or markets, and investment in long-term assets.

The Group is led by an experienced management team with deep healthcare, eCommerce and buy-and-build expertise.

For more information, visit www.vulcantwo.com