Transaction in Own Shares

       www.bodycote.com

30 July 2024

Bodycote plc

Share Buyback Programme - update

Further to the £60 million share buyback programme (“Programme”) announcement issued on 15 March 2024, Bodycote plc (”Company”), the world's leading provider of heat treatment and specialist thermal processing services, hereby confirms that the first tranche of the Programme was completed on 23 July 2024.  The Company purchased 4,198,089 ordinary shares between 15 March and 23 July 2024 pursuant to the agreement with HSBC Bank plc to conduct the first tranche of the programme totalling £30 million (excluding expenses).

Having completed the first tranche, the Company has now entered into non-discretionary instructions with Jefferies International Limited ("Jefferies") to conduct the second tranche of the Programme for a maximum aggregate consideration of £30 million on the Company’s behalf.  This will commence today and will end no later than 30 January 2025 (“Engagement Period”). Jefferies will make trading decisions in relation to the Company's ordinary shares repurchased under the Programme independently of, and uninfluenced by, the Company. Purchases may continue during any close period to which the Company is subject during the Engagement Period.

Following completion of the first tranche, the maximum number of ordinary shares that can be bought back under the second tranche of the Programme is 17,680,231 ordinary shares.  Purchases of ordinary shares in relation to the Programme will be carried out on the open market via the London Stock Exchange and/or any other recognised investment exchange for the purposes of section 693 of the Companies Act 2006, to be made from time to time depending on market conditions, share price, trading volume and other factors.

The Programme will continue to be conducted within certain pre-set parameters prescribed by the Market Abuse Regulation 596/2014 (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and Chapter 12 of the Financial Conduct Authority's Listing Rules, and in accordance with the general authority to repurchase shares, which was granted to the Company by its shareholders at the Annual General Meeting held on 30 May 2024.

The Programme will end when the maximum aggregate consideration of all ordinary shares acquired under the Programme is no more than £60 million (excluding stamp duty and expenses), or as otherwise terminated. The sole purpose of the Programme is to reduce the Company's share capital and accordingly, the purchased ordinary shares will be cancelled.

About Bodycote

With more than 165 accredited facilities in 22 countries, Bodycote is the world's largest provider of thermal processing services. Through Specialist Technologies and classical heat treatment, Bodycote improves the properties of metals and alloys, extending the life of vital components for a wide range of industries, including aerospace, defence, automotive, power generation, medical, oil & gas, construction, and transportation. Customers in all of these industries have entrusted their products to Bodycote's care for more than 50 years. For more information, visit www.bodycote.com.

For further information, please contact:

Bodycote plc

Jim Fairbairn, Group Chief Executive

Ben Fidler, Chief Financial Officer

Peter Lapthorn, Head of FP&A and Investor Relations

Tel: [phone]

FTI Consulting

Richard Mountain

Susanne Yule

Tel: [phone]

---

---