Bodycote Plc – Launch of new £80 million Share Buyback Programme

[Bodycote]
                www.bodycote.com

11 March 2026

Bodycote plc

Launch of new £80 million Share Buyback Programme

Bodycote plc (`Company’), the world’s leading provider of heat treatment and
specialist thermal processing services, today announces a new £80 million share
buyback programme expected to be completed by the end of 2027 (`Buyback
Programme’). This Buyback Programme reflects both the Company’s strong balance
sheet and its continued commitment to balanced and disciplined capital
allocation.

The Company intends to split the Buyback Programme into two tranches: an initial
up to £40 million (excluding expenses) tranche being conducted by Barclays Bank
PLC, acting through its investment bank (`Barclays’), followed by a second up to
£40 million (excluding expenses) tranche which is intended to commence upon
completion of the first tranche.

The Company announces that, pursuant to the Buyback Programme, it has entered
into an arrangement with Barclays. The arrangement allows Barclays to purchase
up to 12,301,205 ordinary shares in the Company (`Shares’) until the Company’s
next Annual General Meeting on 27 May 2026 (`AGM’), and subsequently to purchase
such number of Shares as may be authorised at the AGM. These share purchases
will be made by Barclays acting as riskless principal and in accordance with the
arrangement and, in the case of any purchases made during closed periods, shall
be made independently of and uninfluenced by the Company.

Any share purchases effected pursuant to the arrangement will be subject to the
terms of the arrangement with Barclays and in any case will be effected in a
manner consistent with both the general authority vested in the Company to
repurchase shares and the UK Listing Rules. The aggregate purchase price under
this arrangement, together with any other Shares purchased on the Company’s
behalf pursuant to its Buyback Programme, will not exceed £80 million.

Following the purchase of the Shares, they will be cancelled. The sole purpose
of these share purchases is to reduce the Company’s share capital.

For further information, please contact:

Bodycote plc

Jim Fairbairn, Chief Executive Officer

Ben Fidler, Chief Financial Officer

Peter Lapthorn, Head of FP&A and Investor Relations

Tel: +44 1625 505300

FTI Consulting

Richard Mountain

Edward Knight

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