Loan Conversion and Issue of Equity

Malvern International plc (“Malvern” or the “Company”), the global learning and skills development partner, announces that it has issued and allotted 21,551,724 new ordinary shares of 1p (“Ordinary Shares”) each pursuant to the conversion of £50,000 of the loan notes at a conversion price of 0.232 pence per share (being the average price of the five business days prior to the conversion date) that were otherwise redeemable on 31 July (the “Loan Note Conversion”).

Following the loan note conversion a further £272,817 Loan Notes remain outstanding of which a further £50,000 is redeemable or convertible on each of 31 January 2022 and 31 July 2022 with the final balance redeemable or convertible on 31 December 2022.

The 21,551,724 new Ordinary Shares will rank pari passu with the Company’s existing ordinary share capital. Application has been made for the 21,551,724 new ordinary shares arising pursuant to the Loan Note Conversion to be admitted to trading on AIM (“Admission”) which is expected to commence at 8.00 a.m. on or around 6 August 2021

Following Admission, the total number of Ordinary Shares in the Company in issue will be 2,109,018,964 and the total number of voting rights will be 2,109,018,964. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

 This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.