Chairman and Non-Executive Director succession

19 June 2025

XPS Pensions Group plc

Chairman and Non-Executive Director succession

XPS Pensions Group plc ("XPS" or the "Group") announces that Alan Bannatyne, Independent Non-Executive Chairman, has informed the Board of his wish to step down from the Board following the conclusion of the Company's Annual General Meeting on 4 September 2025, in line with the Group's succession plan as Alan will soon reach 9 years tenure as a Director and therefore will no longer be considered independent of the Group under the UK Corporate Governance Code. Martin Sutherland, Non-Executive Director who joined the Board in December 2023, will be appointed as Independent Non-Executive Chairman of the Group following the AGM.

Margaret Snowdon OBE, Independent Non-Executive Director, will also reach 9 years tenure as a Director in January 2026, and will step down from the Board following the recruitment of an additional Non-Executive Director, the timing of which is yet to be confirmed.

Ben Bramhall, Co-Chief Executive Officer, commented: "It's been an absolute pleasure working with Alan since he joined the Board in 2017 to support our listing on the London Stock Exchange. On behalf of the Board, I'd like to say a big thank you for everything he has done during his tenure, which has seen XPS grow from a business with c. 400 employees into a FTSE 250 company with c. 1,900 employees. We are delighted that Martin Sutherland has agreed to succeed Alan as Chairman and look forward to continuing to work with Martin to capitalise on the opportunities ahead."

Paul Cuff, Co-Chief Executive Officer, commented: "I would like to say a personal thank you to Alan for everything that he has done for XPS, and for all the support he has given to me and the senior team here over the years. It's been a fantastic journey since we listed on the London Stock Exchange in 2017, and Alan has played a big part in the success of the business providing insight, guidance and challenge throughout. We will miss him around the boardroom table but look forward to staying in touch and wish him all the best for the future."

Alan Bannatyne, outgoing Chairman, commented: "What a transformation since listing on the London Stock Exchange eight years ago. I can only commend the team in the highest possible way, not just for creating growth and increasing profits, but also for always focusing on the longer-term opportunities. I have every confidence that under Martin's leadership the Board will take the business to new levels. Ultimately, it's the whole XPS team that deliver great results for clients - I wish them all very successful careers and within XPS they undoubtedly have every opportunity."

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Notes to Editors:

XPS Group is a leading consulting and administration business focused on UK pension schemes and insurers. XPS combines expertise, insight and technology to address the needs of over 1,300 pension schemes and their sponsoring employers on an ongoing and project basis, also providing advice and administration to UK insurance companies. We undertake pensions administration for c. 1.2 million members and provide advisory services to schemes and corporate sponsors in respect of schemes of all sizes, including 86 with assets over £1bn.