32816-Lucy-Group-AR-2025 web ready spreads_FINAL

Chairman’s Statement continued

BUSINESS OVERVIEW

Our long-term vision remains unchanged: to be a trusted partner for customers worldwide and to deliver infrastructure solutions for a sustainable future. While there is ebb and flow in global market trends and demand patterns, we remain confident in our strategy. Despite intensifying market competition, we believe that we are well positioned to capture market opportunities and drive further long-term growth. I would like to thank everyone across the entire Group for their continued commitment and hard work during last year and for their resilience and determination to tackle the new issues that are already confronting us in 2026.

As ever, we supported many charitable CSR programmes across the Group in 2025, reinforcing our ongoing commitment to the communities in which we operate through both donations and employee volunteering. Outlook The outlook for 2026 is currently clouded by the latest events in the Middle East, with hostilities across the region already impacting several key markets. At the time of this report, shipping movements are restricted in the Gulf and, if these continue, they are likely to affect our production facilities in the region. Appropriate actions are being taken to look after all our employees in line prolonged conflict, and we are already experiencing subdued business levels as a result of weak economic growth and a disproportionate level of actual spend on the much-heralded national infrastructure investment. with local government advice. The UK may also suffer from a

progress and engagement in learning. We also run a formal mentoring programme. Since December 2024, the Group learning score has increased to 80% and the Group career path score to 73%, ranking us in the top 25% of our peer group, with an aim to be in the top 10% by 2029. In September 2025, Lucy Switchgear FZE celebrated its 25th anniversary with a ceremony that brought together employees, leadership and long-serving team members. A highlight of the event was the recognition of employees who have completed 25 years of service. ESG We continue to build on our trajectory of improving sustainability, making significant progress in understanding, managing and reducing our emissions across the Group. Our carbon-intensity levels continue to decrease. This reflects the effectiveness of various initiatives such as phasing out diesel, improved freight logistics and enhanced energy efficiency.

Richard Dick Executive Chairman 24 March 2026

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Lucy Group Ltd Annual Report & Accounts 2025

LUCYGROUP.COM

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