Capita: Proforma financial data: closed book Life & Pensions

CapitaAnnouncement

24/02/2026 07:00

24 February 2026

Proforma financial data: closed book Life & Pensions

Capita plc (Capita)

As announced on 12 December 2025, Capita reached a hand back agreement with
the remaining client in the closed book Life & Pensions business (CBL&P),
providing certainty over the resolution of a key component of the Group’s
manage for value strategy.

As a business exit in the Group’s external reporting, CBL&P’s results will no
longer be reported within the Regulated Services division. Ahead of the 2025
full year results being announced on 10 March 2026, we are today providing
2024 full year proforma financial data for the business as follows:

Proforma divisional information:

+---------------------+------------------+--------------------+--------------+
|                     |      FY2024      | 2024 CBL&P Results | FY2024 Group |
|                     |  Group Adjusted  |                    |   Restated   |
|                     |     Results      |                    |   Adjusted   |
|                     |   (previously    |                    |   Results    |
|                     |    presented)    |                    |              |
|                     |                  |                    |              |
+---------------------+------------------+--------------------+--------------+
| Revenue             |     2,369.1      |      (143.4)       |   2,225.7    |
+---------------------+------------------+--------------------+--------------+
| Operating Profit    |       95.9       |       (11.3)       |     84.6     |
+---------------------+------------------+--------------------+--------------+
| EBITDA              |      186.1       |       (17.1)       |    169.0     |
+---------------------+------------------+--------------------+--------------+
| Operating cash flow |       72.0       |        10.8        |     82.8     |
+---------------------+------------------+--------------------+--------------+
| Cash conversion     |       39%        |        N/A         |     49%      |
+---------------------+------------------+--------------------+--------------+

Commentary on 2024 results:

The Group has been undertaking a managed exit from CBL&P for a number of
years. As a result, the business’s revenue is in decline and operating profit
and cash flow are subject to fluctuations as terms are agreed and contracts
are migrated.

In 2024, in line with the significant progress made in reaching agreements to
exit contracts, we successfully migrated a number of contracts in CBL&P. This
resulted in c.£10m of one off benefits from deferred income releases which
benefited both revenue and profit. As part of these migrations, for some
clients, we also delivered additional services during the transition which
benefitted the 2024 profit and cash performance.

In 2025, CBL&P returned to a loss-making business, reflecting the impact of
handed back contracts, non-repeat of the aforementioned one offs and required
increases to the onerous contract provisions. As noted above, this business
will now be treated as a business exit in the Group’s financial reporting and
therefore will be excluded from the Group’s adjusted results.

For more information, please contact:

Investor enquiries
Helen Parris, Director of Investor Relations
Tel: 07720 169 269
Email: IRteam@capita.co.uk

Stephanie Little, Head of Investor Relations
Tel: 07541 622 838
Email: IRteam@capita.co.uk

Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: media@capita.co.uk

About Capita plc

Capita is a modern outsourcer, helping clients across the public and private
sectors run complex business processes more efficiently, creating better
consumer experiences. Operating across eight countries, Capita’s 34,000
colleagues support primarily UK and European clients with people-based
services underpinned by market-leading technology. We play an integral role in
society - our work matters to the lives of the millions of people who rely on
us every day