REG - ConnectingExcellence - Completion of James Gray Recruitment acquisition

5 October 2026

Connecting Excellence Group Plc

(“Connecting Excellence Group”, “XCE”, the “Group” or the “Company”)

Completion of James Gray Recruitment acquisition

XCE completes its first recruitment acquisition, adding £1.79 million of revenue and £431,000 of EBITDA, and taking its Bitcoin treasury to 81.157 BTC

Connecting Excellence Group Plc (AQSE: XCE / OTCQB: XCELF), the international executive and specialist recruitment group with a long-term Bitcoin (BTC) treasury strategy, announces that it has completed the acquisition of the entire issued share capital of James Gray Recruitment Limited ("JGR") and, simultaneously, the acquisition of James Gray Engineering Limited ("JGE") (JGR and JGE together, the "Targets", and their acquisition, the "Acquisition").

XCE has now completed its first recruitment business acquisition, an important step in the execution of its decentralised acquisition strategy.

Highlights

• Operational: the Acquisition adds a profitable, growing specialist recruitment business with combined, unaudited revenue of £1.79 million, up 21.5%, gross profit of £1.27 million at a 70.9% margin and EBITDA of £431,000 in the twelve months to 30 June 2026, materially increasing the scale of the Group.
• Capital-light structure: excluding the Bitcoin, a net cash outflow of approximately £150,000 on completion. The balance of the consideration is deferred and linked to EBITDA delivery in the calendar years 2027 to 2029. XCE expects to retain approximately 75% to 85% of cumulative EBITDA over the earn-out period.
• Bitcoin treasury balance sheet: the Group’s holding has increased to 81.157 BTC, including the 8.216 BTC held by the Targets, reflected in the consideration at a market value of £531,223 (£64,657 per BTC) and funded from the £600,000 subscription. The Group’s holding is valued at £5.25 million at the 4.00 p.m. price on 2 October 2026.