23 October 2024

Alpha Group International plc

("Alpha" or the "Group")

Client Balances & Interest Rates, Quarterly Update

Alpha Group International plc, a high-tech, high-touch provider of financial solutions to corporates and institutions, today provides an update on the blended average numbers for its client balances and interest rates, which contribute to its 'Net Treasury Income - Client Funds'.

The Group will continue to publish these figures on a quarterly basis via RNS Reach and on its website: www.alphagroup.com/investors/financial-information.

Net Treasury Income Explained

Interest is earned on overnight deposits with several credit institutions, all 'A' rated with the leading rating agencies. The amount of interest earned is dependent on several variables:

-      The absolute balance we hold, which can move significantly from day-to-day

-      The mix of currency balances we hold, and;

-      The interest rate environment and rates that can be obtained from credit-worthy institutions.

Net treasury income is a natural by-product of our accounts solution and is an uncontrollable income stream for the Group, which would be at least partly transitory if we return to a low-interest rate environment. We have therefore chosen to recognise interest income on client cash balances as 'net treasury income - client funds' (formerly 'other operating income'), not operating revenue. Net treasury income - client funds was £73m in 2023 (2022: £9.3m).

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Notes to editors

Alpha is a high-tech, high-touch provider of financial solutions dedicated to corporates and institutions. Working with clients across 50+ countries, we blend intelligent human capabilities with new technologies to provide an enhanced alternative to traditional banking services, with solutions covering: FX risk management, global accounts, mass payments, fund finance, and cash management.

Key to our success is a team of nearly 500 people based across eleven global offices, brought together by a high-performance culture and a partnership structure that empowers them to act as owners of our business.

Despite being an established business listed on the London Stock Exchange, we remain relentlessly focused on maintaining the same level of operational agility and client focus we had when we first started in 2009. This dynamic, combined with the passion of our people, has enabled us to make a substantial and enduring difference to our clients, and deliver a growth story to match.