Update on Group Audit and Temporary Suspension of Trading in Ordinary Shares

Carr's (CARR.L), the Speciality Agriculture and Engineering Group, provides an update regarding the delay to the publication of its audited results for the year ended 3 September 2022 ("FY22").

As announced on 22 November 2022, following a thorough exploration of all options for completing a second audit of Carrs Billington Agriculture (Operations) Limited in order for the Company's auditors, Grant Thornton UK LLP ("GT"), to be satisfied that the Financial Reporting Council's independence requirements would be met, the Company and GT concluded that it would not be possible for the Company to publish its audited financial statements for FY22 ("FY22 Results") by 3 January 2023.

As, under the Financial Conduct Authority's ("FCA") Disclosure Guidance and Transparency Rules, the Company is required to publish its audited FY22 Results by 3 January 2023, the Company confirms that it has now requested, and received confirmation from the FCA, that the listing of the Company's ordinary shares of 2.5 pence each (the "Ordinary Shares") will be temporarily suspended with effect from 7.30 a.m. on 4 January 2023.

The Company will continue to work closely with GT to ensure that the FY22 Results are published as soon as possible in January 2023. The Company will request a restoration of the listing of its Ordinary Shares on publication of its FY22 Results.

The Board confirms that the unaudited performance for FY22 was in line with its expectations and ahead of the prior year.

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