

In Part One of this Hardman Talks, technology analyst at Hardman & Co, Richard Jeans, meets with Larissa Adams to discuss the latest outlook for the UK tech sector. Despite a challenging period for share prices and notable underperformance versus the wider market, many companies continue to deliver positive trading updates, supported by strong balance sheets and resilient demand. The conversation explores the growing gap between market sentiment and underlying fundamentals, as well as broader trends shaping the sector. Richard also introduces key themes from his report, including valuation dynamics and structural changes, setting the scene for the deeper analysis covered in the rest of the next two installments. Read the 'Tech Sector Outlook - Small cap finding support at COVID-19 levels' here: https://hardmanandco.com/research/corporate-research/tech-sector-outlook-2/ Important notice: This content has been prepared purely for information purposes, and should not be construed as an offer, or the solicitation of an offer, to buy or sell any security, product, service or investment. The companies or legal entities covered in this content may or may not pay us a fixed fee for this content to be made available. Investments in small and mid-cap corporations and foreign entities are speculative and involve a high degree of risk. An investor could lose all or a substantial amount of his or her investment, and the securities or legal entities mentioned in this content may not be suitable or appropriate for all investors. Each investor’s particular needs, investment objectives and financial situation were not taken into account in the preparation of this content. Each investor must make his or her own independent decisions and obtain their own independent advice regarding any information, projects, securities, tax treatment or financial instruments mentioned herein. The fact that Hardman & Co has made available through this content various information constitutes neither a recommendation to enter into a particular transaction nor a representation that any financial instrument is suitable or appropriate for you. Each investor should consider whether an investment strategy of the purchase or sale of any product or security is appropriate for them in the light of their investment needs, objectives and financial circumstances. For more information, please read our full disclaimers: www.hardmanandco.com/research-disclosures www.hardmanandco.com/disclaimer



