18 July 2023

Carclo plc

("Carclo" or the "Group")

Banking Covenant Adjustment - Update

Carclo is pleased to confirm that the agreement made with its lending bank to amend banking covenants, as previously announced on 23 June 2023, has now been formally signed.

In the unaudited preliminary accounts for Carclo, for the year ending on 31 March 2023 and released on 12 July 2023, a material uncertainty over going concern was noted due to the fact that the formal documentation for the covenant adjustment was yet to be signed.  It is now the view of the directors, that following the formal signing of the revised covenant agreement, that this uncertainty is removed.

As previously announced, the Group expects to publish its audited full consolidated financial statements for the year ended 31 March 2023, on or before 31 July 2023.

Enquiries:

Carclo plc                             01924 268040

Frank Doorenbosch - Chief Executive Officer

David Bedford - Chief Financial Officer

LEI: 21380078MEM399JPI956

This announcement contains information that qualifies or may qualify as inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

About Carclo plc

Carclo plc is a public company whose shares are quoted on the Main Market of the London Stock Exchange. The Group  is a preferred and trusted partner of global customers, offering high-precision critical components that meet the needs of life sciences, aerospace, optics, and technology industries.