27 July 2026

Warpaint London PLC

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

Launch of Share Buyback Programme

Warpaint London plc (AIM: W7L), the specialist supplier of high-quality colour cosmetics and personal care brands at an affordable price, announces the commencement of an initial share buyback programme in respect of its ordinary shares of 25 pence each ("Ordinary Shares") up to a maximum aggregate consideration of £2.5 million (the "Programme"). The Programme will commence immediately and will end no later than 31 December 2026.

Ordinary Shares acquired under the Programme will be held in treasury and are expected to be used to satisfy future obligations from Warpaint's employee share schemes, thus reducing future dilution for shareholders.

The Board believes that the Programme represents an effective use of the Group's cash balances, which stood at £20.6 million in total as at 30 June 2026 and provides an opportunity to deliver value for shareholders, in line with Warpaint's approach to capital allocation.

In order to implement the Programme, the Company has entered into an agreement with Shore Capital Stockbrokers Limited for it to carry out on-market purchases independent of the Company on an irrevocable and non-discretionary basis. The programme will be conducted in accordance with the Company's general authority to make market purchases of existing Ordinary Shares as granted by its shareholders at the Annual General Meeting held on 16 June 2026 (the "General Authority"), including that the maximum price (excluding expenses) which may be paid per Ordinary Share shall not exceed the higher of: (a) 105 per cent. of the average of the middle market quotations for the Ordinary Shares on the AIM Appendix of the London Stock Exchange Daily Official List for the five business days preceding the date of purchase; and (b) the higher of the price of the last independent trade and the highest current independent bid for the Ordinary Shares on the London Stock Exchange.

Shareholders should be aware that the Programme will, insofar as is possible, be conducted in accordance with the safe harbour parameters of MAR (as defined below). However, the Programme may on any given trading day represent a significant proportion of the daily trading volume in the Ordinary Shares on the London Stock Exchange and could exceed 25 per cent of the average daily trading volume. Accordingly, the Company may not benefit from the exemption contained in Article 5(1) in the UK version of the Market Abuse Regulations (Regulation (EU) No 596/2014) as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). The Programme will not prevent the Company from making additional purchases of Ordinary Shares in accordance with the Company's general authority to repurchase Ordinary Shares where it considers it appropriate to do so.

Any market purchase of Ordinary Shares pursuant to the Programme will be announced in accordance with applicable rules and regulations.

This announcement contains inside information for the purposes of Article 7 of the UK version of the Market Abuse Regulation (EU) No.596/2014, which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. The Company confirms that it currently has no other unpublished price sensitive information

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Warpaint London PLC

Warpaint is a specialist supplier of high-quality colour cosmetics and personal care brands at an affordable price, sold under the W7, Technic, Skin & Tan, Super Facialist, Dirty Works and Fish Soho brands. Its brands are sold primarily to major retailers, retail chains and supermarkets, with a growing direct online business. Additionally, in February 2026, Warpaint acquired the Barry M colour cosmetic brand.