Walker Crips Group plc

("Walker Crips" or the "Company")

Working Capital Loan Drawdown Facility Secured

Walker Crips announces that it has secured a £5m Working Capital Loan Drawdown Facility ('Facility') from its largest shareholder, Phillip Brokerage Pte Ltd ('PhillipCapital'). The Facility provides the Company with necessary funding to support its future plans and reinforce the Company's financial stability.

The Facility is for a maximum of £5m, with a fixed term of 2 years from 31 July 2025. Interest will only be charged on the amount drawn down at 9.07% per annum, and there is a one-off Facility Fee of 1% (£50,000). Other than the one-off Facility Fee, there will be no other costs if no drawdown has been made. The Facility can be repaid at any time without penalty.

If any amount of the Facility (including accrued but unpaid interest) remains drawn down six months from the date of the agreement, the Company will be required to initiate a rights issue for the purpose of repayment of the Facility. If the Facility is undrawn or is drawn and repaid in full (including accrued interest) as at 31 January 2026 then there will be no requirement for the Company to initiate a rights issue. The Company intends to repay any drawn amounts ahead of 31 January 2026.

The Company requires this funding in light of an especially challenging last financial year, as announced in the Company's full year results to 31 March 2025. As a result of a number of historic issues, there has been a requirement both to fund substantial investment in legal and consulting services, as well as the recruitment of additional Compliance personnel. The Facility has therefore been put in place to reinforce the Company's financial position following significant expenditure, and will be utilised to support the Company's growth plans in the near term.

Jo Welman, Chairman, commented: "We have secured a £5m loan facility from PhillipCapital, one of our major shareholders, to provide the necessary funding to support our future plans and reinforce the Group's financial stability. The availability of this loan is instrumental, without it, the Group would lack the capacity to implement essential changes and invest in the growth strategies required to move our business forward. We continue to actively explore a broad range of strategic options aimed at further strengthening our balance sheet and positioning the Group for long-term success."

Additional information

Phillip Brokerage PTE Ltd and its connected parties hold 12,359,803 shares in the Company, equivalent to 29.03% per cent. of the Company's issued share capital. As a result of its shareholding in the Company, Phillip Brokerage PTE Ltd is defined as a related party under the UK Listing Rules ("UKLRs") and the provision of the Facility constitutes a related party transaction under paragraph 8.2.1R of the UKLRs.

The Board (comprised for these purposes of all directors with the exception of Hua Min Lim and Linus Lim) confirms its view that the provision of the Facility is fair and reasonable as far as the shareholders of Walker Crips are concerned and that the Board has been so advised by Singer Capital Markets in its role as the Company's sponsor in connection with the Facility.

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Further information on Walker Crips Group is available on the Company's website: www.walkercrips.co.uk