YOUNG & CO.'S BREWERY, P.L.C. ("Young's" or the "Company")

CHRISTMAS & Q3 TRADING UPDATE

PROPOSED MOVE FROM AIM TO THE MAIN MARKET

Exceptional trading over the festive period

Young's, the premium operator of pubs and bedrooms in London and the South of England, announces a trading update for the 14 weeks ended 5 January 2026.

The Company also announces its intention to move from AIM to the Main Market of the London Stock Exchange.

Trading

Trading was very strong over the Christmas and New Year period, with like-for-like sales for the three-weeks to 5 January increasing by 11.2%, against a very strong prior year comparator.

On key days, including Christmas Eve, Christmas Day and Boxing Day, trading was particularly good with like-for-likes up 12.3%, and the former City Pub estate delivering 26% growth over Christmas and Boxing Day, reflecting the impact of its alignment with the wider Young's proposition since acquisition.

Total managed revenue for the 14 weeks ending 5 January was up 5.6% and, on a like-for-like basis up 5.7%, building on the positive momentum reported in our interim results statement in November. Our year-to-date managed revenue like-for-like position now stands at 5.4%. This performance is a further demonstration of Young's strategy of continued investment in its premium and differentiated estate.

Intention to move from AIM to the Main Market

The Company announces today its intention to apply to the FCA for its shares to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange ("Admission").  

The Company has grown considerably both in size and performance in recent years, as further evidenced by today's update on trading. The Board believes that Admission will enhance the Company's corporate profile and appeal, including facilitating investment in the Company by a broader group of UK and global institutional shareholders, reflecting the strength, resilience and growth potential of our business model and market position.

Our proven strategy of operating premium, individual, and differentiated pubs continues to deliver robust top-line growth, supported by ongoing investment and a disciplined approach to capital allocation. We remain focused on delivering industry leading margins through operational leverage across our well invested pubs, while maintaining healthy cash generation and a clear path to further deleveraging. With our strong balance sheet, we will continue to invest in growth and, as appropriate, return surplus capital to shareholders to drive attractive returns.

Admission is subject to the approval by the FCA of a prospectus and admission to the Official List and admission by the London Stock Exchange to trading on the Main Market.  The Company intends for Admission to occur in the second quarter of 2026, at which time the Company's listing on AIM is expected to be cancelled.  

Admission is not conditional upon shareholder approval. Shareholders should note that the Company's shares will no longer be traded on AIM with effect from Admission and should consult their own professional advisers regarding the consequences of Admission.

The Company will provide a further update on the timeline and process for Admission in due course.

Simon Dodd, CEO of Young's, commented:

"We are delighted with the outstanding trading performance in our pubs over the festive period. Once again, this demonstrates the ongoing appeal of our premium, well-invested offer and another amazing contribution from the talented and hard-working team at Young's. During the six weeks of the festive period, we recorded our highest ever sales in one day, setting multiple daily and weekly records across our estate"

Young's remains well-positioned to withstand the well-publicised headwinds facing our sector. We continue to invest in and innovate across our premium estate. We are focused on controlling the controllable and continuing to give our customers a great reason to come to our pubs.

Over the last two decades, AIM has provided a highly supportive environment for Young's, helping us to realise our growth ambitions and secure vital funding, especially during the difficult period of the pandemic. We are very proud of the growth we have achieved and believe a move to the Main Market is a natural and exciting next step for Young's, and one that will open the door to a wider group of investors."

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