ITRK Intertek Group Plc

4 March 2024

·    The demand for minerals testing continues to grow, underpinned by strong fundamentals, with significant growth potential in Minerals that are important for advanced technology and the energy transition

·   The acquisition of Base Met Labs will expand Intertek's industry leading ATIC offering in the Minerals industry, growing its geographic footprint into North America

·    Base Met Labs' leading metallurgy capabilities is highly complementary to Intertek's existing strengths in geochemistry, mine site laboratories and trade inspection, creating attractive synergies across the Intertek ATIC Minerals project cycle

More information is available here: https://www.intertek.com/investors/basemetlabs-video/

Intertek Group plc ("Intertek" and "Group"), a Total Quality Assurance provider to a range of industries worldwide, announces that it has agreed to acquire Base Metallurgical Laboratories Ltd. and Base Met Labs US Ltd. ("Base Met Labs"), a leading provider of metallurgical testing services for the Minerals sector based in North America.

In order to meet the demands of a growing global population, a variety of energy sources and minerals will be needed, heightening the requirement for mission-critical, end-to-end Total Quality Assurance solutions across the resource development chain.

Founded in 2014 and operating from laboratories in Kamloops, British Columbia and Tucson, Arizona, Base Met Labs' specialist focus on metallurgy capabilities complements Intertek's existing strengths in geochemistry, mine site laboratories and trade inspection, creating attractive commercial synergies within Intertek's high-quality service portfolio. The acquisition broadens the Group's differentiated ATIC offering in the Minerals industry, expanding its Americas footprint to access the largest and growing market for mining activity globally, across Canada, the United States and Central and South America.

With a testing focus on gold, copper and other critical metals, Base Met Labs benefits from growing demand for minerals testing underpinned by strong fundamentals, with significant growth potential in battery and energy metals that will help the world's leading mining companies accelerate into a sustainable future.

The acquisition will capitalise on the recent success of the Group's innovative Minerals Global Centre of Excellence in Perth Australia, one of the world's largest and most advanced minerals laboratories, strengthening our position in the industry.

Base Met Labs employs over 40 people and generated revenues of £7.8m in 2023.

André Lacroix, Chief Executive Officer of Intertek, said: "There is no doubt that, with a growing population and the rise in demand for raw materials, the requirement for leading ATIC solutions at every stage of the minerals and mining supply chain globally is increasing rapidly.  The acquisition of Base Met Labs is highly complementary to our ATIC service offering, establishes a Minerals testing footprint for Intertek on the American continent and creates attractive growth opportunities with existing and new clients. We welcome the Base Met Labs team to Intertek and look forward to working together to help the world's leading mining companies accelerate into a sustainable future, enabling us to fulfil our mission of making the world a better, safer, more sustainable place for all."

For further information please contact:

Denis Moreau, Investor Relations

Telephone: +44 (0) 20 7396 3415               investor@intertek.com

Jonathon Brill/James Styles, Dentons Global Advisors

Telephone: +44 (0)7836 622 683 intertek@dentonsglobaladvisors.com