Capital for Colleagues Plc - Portfolio Update - Morris Commercial Ltd

Capital for Colleagues plc / EPIC: CFCP / Market: Aquis / Sector: Financials

12 June 2026

CAPITAL FOR COLLEAGUES PLC

(`Capital for Colleagues', `C4C' or the `Company')

PORTFOLIO UPDATE - MORRIS COMMERCIAL LTD

Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (`EOB') sector, is pleased to announce an update in respect of its investee company, Morris Commercial Ltd (`Morris Commercial' or `MCL').

Morris Commercial is a UK-based automotive engineering and manufacturing business, focused on innovation and the creation of desirable carbon neutral transport. Morris Commercial's initial product, the Morris JE electric van, draws inspiration from the iconic Morris J-Type, arguably one of the most recognisable vans of the 1950s, and combines cutting-edge battery technology and lightweight carbon-fibre construction with classically inspired British design. Most components of the Morris JE are both recycled and recyclable, to further enhance its environmental appeal. To date, MCL has received more than 7,000 expressions of interest in the Morris JE, from businesses and private customers across the UK, Europe, North America, Australia and New Zealand.

Capital for Colleagues is pleased to announce that MCL today unveiled its latest pre-production Morris JE at the EE West Show in Cheltenham, marking a significant milestone as the company advances from vehicle development towards manufacturing.

The unveiling follows substantial progress at MCL, encompassing engineering validation, manufacturing readiness, supply chain integration and also strategic technology ownership, following MCL's acquisition of Prodrive Composites Limited, which has brought advanced composite manufacturing expertise, facilities and intellectual property into Morris Commercial.

Morris Commercial believes that these developments establish a clear pathway towards pilot production in 2027, at MCL's composite manufacturing facility in Milton Keynes, and commercial-scale production in St Athan, South Wales, in 2028.

Commenting on the news, Alistair Currie, Chief Executive of Capital for Colleagues, said:

`We are delighted by the continued progress at Morris Commercial, evidenced by the unveiling today of the latest pre-production Morris JE. This new model is the result of years of hard work by the Morris Commercial team and marks a major step towards commercial scale production.'

The Directors of the Company are responsible for the contents of this announcement.

**ENDS**

For further information, please visit www.capitalforcolleagues.com or contact:

Capital for Colleagues plc

Capital for Colleagues is an investment company focused on the UK EOB sector. The Company has a proven management team, with a wide network of contacts and affiliates, as well as established access to investment opportunities, enabling the Company to execute its strategy and capitalise on EOB-focused investment opportunities. In addition, the Company educates and assists companies that are looking to launch employee ownership schemes, advising them, amongst other things, on how to secure investment and achieve their objectives.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).