Earnings release
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NEWS RELEASE Post-close Trading Update 2025-10-16 RNS Number : 5535D XPS Pensions Group PLC 16 October 2025 16 October 2025 XPS Pensions Group plc Post-close trading update Continued strong revenue growth, Polaris integrating well and creating opportunities in Insurance XPS Pensions Group plc ("XPS" or the "Group") is pleased to provide its post-close trading update (unaudited) forthe six months ended 30 September 2025 ahead of announcing its half year results on 20 November 2025. Trading update The Group has continued to perform strongly with revenues growing 13%, including organic growth of 8%, which isparticularly pleasing given the very strong performance in the prior year first half. This builds on exceptionallystrong aggregate revenue growth of 67% over the last three financial years. Within this, Advisory revenues grew 18% year on year, with healthy growth across all service lines. Administrationrevenues grew 6% despite the significant revenues from the McCloud remedy project rolling off, whilst SIPrevenues grew 10% year on year. Strong demand from ongoing regulatory change, new client wins in all service lines and project wins in RiskTransfer, Insurance Consulting and Administration, continue to drive strong Group revenue growth. Polaris Actuaries and Consultants Limited ("Polaris") which was acquired on 28 February 2025 has integrated welland the business is performing in-line with our expectations. We have been particularly pleased with the successin cross-referrals and in winning mandates to deploy broader XPS capabilities into large insurers. Pensions Act 2025 is the most significant regulatory change of recent times. Among other provisions, it proposesto enable well-funded defined benefit schemes to access surpluses to be deployed for the benefit of members andthe sponsoring companies. This will drive additional consulting demand with regards to the best and mostappropriate long-term strategy for the schemes. Whilst many large schemes are considering the run-on route, wecontinue to see strong demand for Risk Transfer: with either route requiring continued consulting support which 1
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XPS is well placed to provide. In addition to these two drivers of growth for the Group, other opportunities in FY26and beyond include continued growth in Insurance Consulting and Administration in both the private and publicsector. With strong revenue growth and disciplined cost management, the Board is confident of achieving full year resultsin line with its previous expectations. Paul Cuff, Co-CEO commented: "The pensions industry continues to be a very busy place at the moment. Our clients have a wide range ofopportunities in front of them to achieve great things for the members and sponsors of their pension schemes, andwe are proud to be supporting them on the development and implementation of their strategies. We have also been very pleased with the successful integration of our Polaris acquisition, which has boosted ourcapability to support insurance companies with the challenges and opportunities they are facing too, and it hasbeen brilliant to see joint XPS and Polaris teams combining to provide excellent service to clients in this area." -Ends- For further information, contact: Enquiries: XPS Pensions Group Snehal Shah, Chief Financial Officer +44 (0)20 3978 8626 Canaccord Genuity (Joint Broker) +44 (0) 20 7523 8000 Adam James George Grainger Deutsche Numis (Joint Broker) +44 (0)20 7260 1000 Stuart Skinner Kevin Cruickshank Media Enquiries Camarco Gordon Poole +44 (0)20 3757 4980; xps@camarco.co.uk Rosie Driscoll Phoebe Pugh Notes to Editors: XPS Group is a leading UK consulting and administration business specialising in the pensions and insurancesectors. A FTSE 250 company, XPS combines expertise and insight with advanced technology and analytics toaddress the needs of over 1,400 pension schemes and their sponsoring employers on an ongoing and projectbasis. We undertake pensions administration for over one million members and provide advisory services to 2
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schemes and corporate sponsors in respect of schemes of all sizes, including 83 with assets over £1bn. We alsoprovide wider ranging support to insurance companies in the life and bulk annuities sector. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END TSTFFFFMIEISEFS 3