International Workplace Group Advances Share Buyback with Acquisition of 153,361 Shares on 20 July 2026

IWG’s Capital Management Strategy via Share Repurchases

International Workplace Group plc, a leading provider of flexible workspace solutions, continues its share buyback programme as part of its broader capital allocation strategy. Operating a global network of flexible workspace centres catering to businesses from multinational corporations to small enterprises, IWG’s repurchase initiative signals management’s confidence in the company’s intrinsic value. The repurchased shares may be cancelled or retained as treasury stock, offering flexibility in capital structure management.

Initiated on 31 December 2025 following shareholder approval at the May 2026 AGM, the buyback programme underscores IWG’s commitment to returning value to shareholders. By acquiring shares for cancellation or treasury, the company adjusts its capital base without impacting operational capacity or strategic agility. This approach reflects IWG’s ability to generate sufficient cash flow to support discretionary capital returns while investing in expanding its global workspace portfolio and operational excellence.

Details of 20 July 2026 Share Purchases Across Multiple Market Venues

On 20 July 2026, IWG purchased 153,361 ordinary shares through Jefferies International Limited, its investment adviser, utilizing five trading venues to optimize execution and minimize market impact. The London Stock Exchange accounted for 96,364 shares, CBOE BXE for 29,480 shares, CBOE CXE for 16,956 shares, Turquoise Services Limited for 5,993 shares, and Aquis Exchange for 4,568 shares. This diversified execution strategy reflects professional trading practices aimed at achieving competitive pricing across varied liquidity pools.

The volume-weighted average price across all venues was A31.9624 per share, with prices ranging narrowly from A31.9260 to A31.9810. The London Stock Exchange achieved the lowest volume-weighted average price at A31.9624. Over 400 individual trades were executed between 08:15:45 GMT and 15:18:42 GMT, demonstrating methodical purchasing designed to avoid price distortion or adverse market effects from large orders.

Cumulative Buyback Progress and Impact on Share Capital

Since the programme’s launch on 31 December 2025, IWG has repurchased a total of 40,162,683 ordinary shares of USD 0.0124 each. This substantial buyback materially reduces the company’s issued share capital, with shares either being cancelled—thereby permanently lowering share count and increasing earnings per share—or held in treasury for potential strategic uses such as employee share schemes or acquisition financing.

Following the 20 July 2026 purchases, IWG’s issued share count stands at 954,125,882 shares excluding treasury stock, reflecting a significant reduction since the programme’s start. This reduction enhances earnings per share metrics, potentially benefiting shareholders through improved valuation multiples. The flexibility to cancel or retain shares in treasury enables management to adapt capital structure in response to evolving business needs.

Execution Strategy and Pricing Discipline Across Five Exchanges

Jefferies International Limited’s multi-venue execution approach highlights advanced equity market strategies and price discovery. The London Stock Exchange provided the largest liquidity pool, supplemented by CBOE’s CXE and BXE platforms, Turquoise Services, and Aquis Exchange. This distribution of purchases helps secure competitive prices and mitigates information leakage or adverse price movements.

Price execution was disciplined, with a narrow 2.9% spread between the low of A31.9260 and high of A31.9810 per share. The volume-weighted average price of A31.9624 reflects balanced and efficient trading throughout the day. Such pricing discipline is critical to preserving shareholder value during large-scale buybacks.

Compliance with Market Abuse Regulation and Transparency

IWG’s detailed disclosure of individual trades complies fully with Market Abuse Regulation (EU) No 596/2014 as retained in UK law. The transaction log includes precise timestamps, volumes, prices, currency, trading platform codes, and unique references, ensuring transparency for regulators, shareholders, and market participants. This commitment to disclosure exemplifies strong corporate governance and market integrity.

Providing granular buyback data demonstrates management’s confidence that the programme adheres to anti-market abuse rules designed to prevent insider trading or market manipulation. Regular transparent reporting reassures stakeholders that capital allocation decisions are made lawfully and in shareholders’ economic interests.

Strategic Overview of IWG’s Flexible Workspace Model

IWG operates one of the largest global networks of flexible workspace centres, addressing evolving business needs in the post-pandemic environment. Its business model focuses on short-term, flexible office solutions that avoid the capital intensity and long-term leases of traditional real estate. Revenue streams include membership fees, workspace rentals ranging from hourly to annual terms, and ancillary services such as meeting room bookings and virtual offices. This diversified model provides resilience and broad customer engagement across geographies.

The ongoing share buyback alongside investments in workspace expansion signals management’s confidence in the company’s cash flow generation and long-term prospects. Executing buybacks amid sector evolution suggests management views current share prices as fair or attractive relative to future growth. The ability to balance organic growth, leverage management, and capital returns indicates robust financial and operational health.

Governance and Shareholder Authorization for Buyback Programme

The buyback programme operates under shareholder authority granted at the AGM on 19 May 2026. This governance framework ensures capital allocation decisions remain accountable to shareholders. The board’s repurchase limits are defined by share capital percentages or absolute share numbers, with regular disclosures enabling shareholders to monitor progress and execution pace.

Shareholder approval reflects the principle that significant capital deployment requires democratic oversight. Ongoing transparency through regulatory announcements allows shareholders to assess buyback appropriateness and engage with management if concerns arise.

Share Price Context and Market Valuation During Buybacks

Shares repurchased on 20 July 2026 traded between A31.9260 and A31.9810, with a volume-weighted average price of A31.9624. These levels provide insight into market valuation at execution time. Investors will evaluate buyback pricing alongside financial performance and sector trends to judge capital deployment efficiency. Subsequent share price movements will influence perceptions of buyback value creation.

Management’s decision to repurchase shares at these prices suggests an assessment that shares were undervalued or fairly priced relative to intrinsic value. The ongoing nature of the programme indicates acceptance of price variability rather than timing purchases to a single optimal point.

Sector Trends and Flexible Workspace Market Outlook

The flexible workspace sector has transformed significantly due to the rise of remote and hybrid working post-pandemic. IWG operates in this dynamic environment where traditional office leasing assumptions have shifted. Continuing active buybacks amid these changes signals confidence that flexible workspace demand remains strong as businesses seek cost-effective, adaptable real estate solutions. Mature hybrid working strategies may sustain demand above pre-pandemic levels, supporting providers like IWG.

Future sector growth depends on urbanization, emerging market expansion, and hybrid work persistence. IWG’s global footprint across diverse markets positions it well to benefit from these trends. The company’s ability to invest in growth while returning capital through buybacks indicates management’s belief in a substantial and growing addressable market.

Financial Health and Balance Sheet Management

Executing a significant share repurchase programme requires strong cash flow and financial flexibility to avoid compromising operational investment or financial stability. IWG’s simultaneous buybacks, global operations, and expansion investments suggest healthy underlying cash generation. The company’s capital structure supports buybacks without excessive leverage or operational constraints, preserving strategic flexibility.

Investors should consider debt levels, covenant compliance, cash conversion, and earnings visibility alongside buyback activity. IWG’s extended programme approach indicates prudent capital management balancing shareholder returns with financial resilience.