Unbound Group plc (AIM:UBG)’s board of directors (the "Board") provided an update further to the initiation of the strategic review and formal sale process announced by the Company on 19 May 2023. Termination of Formal Sale Process: The Board announced the initiation of a strategic review and formal sale process on 19 May 2023 to consider the options available to maximise value for the Company's shareholders and the Group's other stakeholders. These options included, but were not limited to, a sale of the Company conducted under the framework of a formal sale process in accordance with the City Code on Takeovers and Mergers (the "Code"). No potential offers for the issued and to be issued share capital of the Company were received that the Board considered capable of receiving shareholder and wider stakeholder support.

The Board also confirmed that there are no discussions ongoing with potential offerors. The Board therefore announced the termination of the formal sale process, which concludes the offer period (as defined in the Code) in respect of the Company. As such, the Company has ceased to be in an offer period as defined in the Code and the requirement to make disclosures under Rule 8 of the Code are no longer applicable with effect from the publication of this announcement.

Strategic Review Update: Interpath as Joint Financial Adviser continues to run the strategic review process in respect of the Group's main operating subsidiary. Offers within this process continue to be received and reviewed, however, these offers may result in little or no recovery of value for the Company's existing shareholders. Current discussions with interested parties may be altered or terminated at any time and, accordingly, there can be no certainty that any final proposals will be made, nor as to the terms on which any such final proposals may be made.