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2nd April 2020

Pre-Close Statement

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Shearwater Group plc (AIM: SWG, “Shearwater”, “the “Group”), the organisational resilience group, provides the following update for the financial year ended 31 March 2020.

Reported unaudited underlying EBITDA1 is expected to be in excess of £3 million compared to a loss of £1.4 million in the prior financial year, with the Group posting its fourth consecutive quarter of profitable growth. Good cash generation in the period has resulted in an unaudited cash balance of £3.0 million as at 31 March 2020.