RNS Number : 7405J Team PLC 25 October 2024 25 October 2024 ("TEAM", the "Company" or the "Group") Update on HBFS Acquisition TEAM plc (AIM: TEAM), the wealth, asset management and complementary financial services group, announces that the proposed acquisition of Homebuyer Financial Services Limited ("HBFS"), a Jersey based financial planning business, first announced in December 2023, will no longer take place. The acquisition was conditional on raising new capital in 2024 and while the Company has raised capital, as announced on 3 April 2024 to support the Group's working capital requirements, investor appetite to support incremental investment has not been forthcoming, reflecting a broader market malaise and levels of uncertainty. No payment has been made and both parties have agreed to walk away with no further financial involvement. Mark Clubb, Chairman of TEAM, "HBFS is a good business and would have been a good fit with us. We are very disappointed not to have been able to raise the additional funds needed to support this acquisition." Enquiries to www.teamplc.co.uk This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END UPDFLFFSIVLEFIS