Trading Update.

 6 May 2026

Reach plc ("The Company") Q1 Trading update for the 3-month period to 31 March 2026

On track to deliver market expectations, despite digital headwinds

Trading in Q126 was affected by the ongoing disruption in search and referral volumes, in a continuation of the trends we first reported on in July 2025. On-platform referral volumes, mainly from Google, were materially lower and reduced across the quarter, resulting in a 8.1% decline in digital revenue.

These ongoing headwinds reinforce the validity of our three priorities and we continue to execute our strategy and diversify revenues. Actions include growing off-platform audiences, expanding video content and successfully launching premium subscriptions which are now live across 11 sites. Print revenue decreased 6.6%, with circulation and advertising revenues remaining reliable, supported by a cover price increase and strong promotional activity.

Outlook

While on-platform audiences are showing signs of stabilisation, we continue to be cautious on digital revenues. We remain confident in delivering the reduction in operating costs, and are on track to deliver in line with market expectations for the full year.²

Piers North, Chief Executive

"We are undoubtedly in the middle of yet another big shift in the media world as the digital referral landscape continues to change, but we are navigating this uncertainty appropriately. We have the benefit of our scale and a portfolio of trusted brands, reaching 35m people every month and we continue to develop new revenue streams, in particular with our growing subscriptions business."

Notes:

¹  Direct revenues: Advertising or commercial revenues that are generated from direct engagement with the advertiser, agency or consumer. Indirect revenues: Advertising or commercial revenues that are generated indirectly such as revenue on social platforms (off-platform) or programmatically on owned and operated websites (on-platform).

²  Market expectations compiled by the Company are an average of analyst published forecasts - consensus adjusted operating profit for FY26 £95.9m.

³  Reach plc half year results will be reported Wednesday 22 July 2026.

About Reach

We're Reach plc, the UK and Ireland's largest commercial news publisher. We connect with people on and offline, sharing our trusted content through 120+ brands, from household names like the Mirror, Express, Daily Record and Daily Star, to local titles like MyLondon, BelfastLive and the Manchester Evening News, plus our growing US brands like the Irish Star. Every month we reach 69% of the UK online population, 9% of the US population, and over 112m social followers around the world.

LEI: 213800GNI5XF3XOATR61