INVESTOR RELATIONS

STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased to announce its unaudited interim results for the six months ended 30 June 2024.

Financial Highlights:

* defined as revenue from continuing operations less operating expenses i.e. profit from continuing operations before taxation, net finance costs, depreciation, amortization, and non-operating items such as bargain purchase gain and loss on the sale of investments

** Underlying statistics are net of certain transactions which are either non-recurring or exceptional and thus do not form part of the normal course of business.

Operating Highlights:

• Significant uplift in revenue and profitability between 2024 and 2023 arising from the change in interest sharing policy implemented from July 2023.
• Recurring revenue consistent and resilient at 94% of total revenues (2023: 95%).
• The Group's businesses have continued to perform in line with management's expectations, notwithstanding the uncertainty arising from the offer from Jambo and the wait for regulatory change of control approvals.
• Continued focus on meeting the Consumer Duty regulations introduced by the Financial Conduct Authority in the UK with effect from 31 July 2023.
• Strategic exit of the Options Workplace Pension Master Trust business to a new service provider agreed, subject to regulatory approval.

Post-period Highlights: Update on acquisition of STM by Jambo SRC Limited ("Jambo")

• Approval for the change of control of the intended MBO of the SIPP businesses was received from FCA in April 2024.
• The Gibraltar regulator approved the change of control application by Jambo on 2 September 2024.
• The Malta regulator confirmed it was minded to approve the change of control application by Jambo on 27 September 2024, subject only to submission of the audited financial statements of the entity funding Jambo which are expected to be available in the next few weeks;
• Once the condition for final approval by the Malta regulator has been satisfied, and the Scheme of Arrangement is sanctioned by the Isle of Man Court, completion of the Offer by Jambo and delisting from AIM will take place shortly thereafter.
• Successful completion of the Offer will provide shareholders with a minimum up-front cash consideration of 60 pence per ordinary share, with a maximum of deferred consideration equivalent to 7 pence per ordinary share, subject to certain conditions being satisfied.

For further information, please contact:

Notes to editors:

STM is a multi-jurisdictional financial services group traded on AIM, a market operated by the London Stock Exchange. The Group provides UK and international retirement solutions and life assurance products.

The Group has operations in the UK, Gibraltar, Malta, Australia and Spain. STM has developed a range of pension products for UK nationals and internationally domiciled clients and has two Gibraltar life assurance companies which provide life insurance bonds - wrappers in which a variety of investments, including investment funds, can be held.

STM's growth strategy is focused on both organic initiatives and strategic acquisitions.

Further information on STM Group can be found at www.stmgroupplc.com