Plexus Results to Exceed Expectations (UK)

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that following the end of the Company’s financial year on 30 June 2013, the Board anticipates that the full year results, which are subject to external audit, will be well ahead of current market expectations.

The Company intends to announce its full year results in the second half of October 2013.

Plexus’ Chief Executive Ben van Bilderbeek said, “I am delighted to report that this last financial year has seen strong year on year growth in revenues, margins, and profitability. The excellent performance reflects continued demand for our best in class POS-GRIP wellhead equipment that delivers proven safety, functionality and cost effectiveness benefits. The high level of new and repeat orders we have reported over the course of the year with blue chip oil and gas operators around the world for our rental POS-GRIP exploration wellheads, illustrates the momentum behind our business as more operators experience the multiple benefits and advantages that our equipment has to offer.

“Looking ahead, the Company is on course to bring its high pressure/high temperature (‘HP/HT’) tie back connector joint industry project (‘JIP’) to a conclusion in the coming months. In addition, the Company’s exciting HGSS™ new subsea wellhead design JIP is also progressing well with the testing of the prototype due for completion in mid-2014, and will extend our product range into this multi-billion dollar market. Importantly this subsea project addresses a number of key safety and operational challenges such as annulus pressure management that conventional subsea wellhead equipment has to date not resolved, but which are gaining increasing prominence amongst industry leaders such as Oil and Gas UK, Scottish Enterprise, and ITF, a not for profit organisation owned by 30 global oil majors and oilfield service companies.

“With the above developments in mind, the Board is confident that the strong momentum behind the Company will continue into the current financial year and beyond, and we look forward to updating the market on our progress.”

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Press Release, July 30, 2013