TIDMPAGE

RNS Number : 9829M

PageGroup plc

20 September 2023

PageGroup plc

Capital Markets Event

Updated Strategy targeting GBP400m Operating Profit and GBP1.5bn in shareholder distributions by 2030

PageGroup plc ("PageGroup" or the "Group") will this afternoon, at 3.00pm (BST), hold a capital markets event for investors and analysts. The event will be held in person at the London Stock Exchange Group, 10 Paternoster Square, London, EC4M 7LS (Room Forum) and available virtually at the following link:

https://pagegroup.connectid.cloud/

During the event, senior management will present the refined Group strategy. In particular, we will detail how we intend to attain our three new strategic goals to be delivered by 2030, those being:

   --    GBP400m Operating Profit 
   --    A Net Promoter Score of 60+ 
   --    One Million Lives changed

We will explain how we intend to deliver these goals by growing our core business, as well as focusing on our new strategic areas of growth - namely Technology, Page Executive and Strategic Customers.

During the event we will also outline how the Group aims to achieve a conversion rate in excess of 20%.

We believe that the achievement of these goals will generate capital distributions to shareholders of over GBP1.5bn during the period to 2030.

As part of this refined strategy and our increased focus on our conversion rate target, we have already implemented a number of initiatives to reduce our cost base. These initiatives will incur a one off cost in 2023 of c. GBP15m, offset by the majority of the cost savings being realised in FY23. The net negative impact this year will be c. GBP5m. Going forward, we expect these initiatives to deliver annualised savings of c. GBP20m per annum compared to our FY23 cost base from FY24 onwards.

PageGroup

   Julia Dickson, Group Financial Controller          01932 264032

FTI Consulting

   Richard Mountain / Susanne Yule                      020 3727 1340

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September 20, 2023 02:00 ET (06:00 GMT)

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