Reach - a non-regulatory announcement

AIM: FIPP

18 February 2025

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - Topps Tiles launches Alusid's Mas floor tiles

Frontier IP, a specialist in commercialising intellectual property, today announces that Topps Tiles plc (or "Topps"), the UK's no.1 tile specialist, has launched portfolio company Alusid's (or the "Company") mass-produced floor tile range Mas through its nationwide Topps Tiles retail chain.

Mas is the second Alusid-made range to be launched by Topps and follows its successful introduction through Topps' commercial arm Parkside Architectural Tiles. Frontier IP holds a 35.4 per cent stake in Alusid.

The European Commission has estimated that the ceramic tile industry creates up to 3 million tonnes of waste and emits 190 million tonnes of carbon dioxide equivalents each year. Alusid is addressing the problem by making tiles from recycled materials that use less energy and water to make than conventional tiles.

Mas is composed of between 95% to 98.5% recycled industrial waste, depending on the colour. According to Alusid's third-party verified Environmental Product Declaration (EPD), Mas reduces carbon emissions by 51% and water use by 44% compared to standard tiles produced in Spain, a global leader in ceramic tile manufacturing. This makes Mas the lowest-carbon tile range in the Topps Tiles portfolio.

The tiles are Alusid's first range that can be used as floor tiles, and come in two different sizes and four colours - grey, sand, red and charcoal. The range was a finalist in the Product of the Year, Surfaces category at the prestigious Mix Awards North event held late in 2024. Mas was also a finalist in the Interior product of the year at the Surface Design Show awards this year, 2025. Topps launched Alusid's Principle wall tile range in 2023.

The Mas launch follows Alusid signing its first international distribution agreement with Dutch sustainable building materials firm FRONT Materials BV. The Company continues to explore its options for an initial public offering, subject to market conditions.

As well as Topps, Alusid's customers include Starbucks EMEA, Amazon, Nando's, Pret A Manger, Selfridges, Harrods and the BBC.

Tim Tatlock, Group buying Director, Topps Group, said: "We are delighted to strengthen even further our partnership with Alusid and bring the Mas range to our broad customer base. Mas offers a beautiful, high-quality floor tile that supports our aims to be carbon neutral in 2030 and environmental leaders in our sector. With its impressive environmental credentials and stylish design, we believe Mas will be a fantastic addition to our product portfolio."

Alasdair Bremner, Alusid's CEO, said: "We're incredibly proud of Mas, not just for its beauty but for its outstanding sustainability credentials. With floor tiles accounting for around 60% of the UK tile market, bringing this product to retail customers through our partnership with Topps Tiles marks another major milestone for Alusid"

Frontier IP Chief Executive Neil Crabb said: "I am delighted with the progress Alusid is making. The launch of Mas through Topps is another important stage in the Company's development, building on existing relationships with the retailer and Starbucks EMEA, as well as the recent agreement with FRONT Materials. We are very much looking forward to supporting the company as it continues to mature."

ENQUIRIES

ABOUT ALUSID

Alusid creates beautiful, premium-quality tiles and architectural surfaces by recycling industrial waste ceramics, glass and other materials much of which would otherwise end up in landfill.

The company's Sustainable Tile ranges are distributed in the UK by Topps Tiles and Parkside Architectural Tiles.  Its products have garnered widespread industry acclaim and have won multiple awards over the years. Their Principle range was named wall tile of the year at The Tile Association's Awards in 2024. The Mas floor tile range, launched last year, has been shortlisted for Interior Surface of the Year at the Surface Design Awards 2025 to be announced in February 2025.

As well as Topps Tiles plc and Starbucks EMEA, Alusid's customers also include Amazon, Nando's, Pret A Manger, Selfridges, Harrods and the BBC.

EPD data for Alusid Mas https://www.environdec.com/library/epd16213 

ABOUT TOPPS TILES PLC

Marrying stylish tiles with excellent customer service, Topps Tiles is the UK's number one tile specialist, with more than 300 stores across the UK and at toppstiles.co.uk. Inspiring customers with their love of tiles for over 60 years, they have introduced further surface covering products from kitchen splash backs, shower and acoustic wall panels to LVT flooring.

About Reach announcements

This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.