Rightmove Plc – Trading Statement

8 May 2026

Rightmove plc

AGM Trading Update

Strong execution, innovation and value delivery for partners and consumers

Guidance reaffirmed

Rightmove plc, the UK’s number one property portal, provides the following
update on trading for the period from 1 January 2026.  Unless otherwise stated,
figures relate to the four-month period ending 30 April 2026.

Current trading and outlook

Guidance remains unchanged since our 2025 full-year results, and we are
reaffirming our expectation of 8-10% revenue growth in 2026.

· Within our Core business (i.e. Estate Agency and New Homes), we continue to
deliver product-led Average Revenue per Advertiser («ARPA») growth, which
supports our unchanged Core ARPA growth guidance.
· Core Membership has increased since year-end, supporting our ongoing
expectation of c.1% membership growth across Estate Agency and New Homes in
2026. We expect growth in Agency to offset New Homes developments, which
continue to see subdued build rates.
· Our Strategic Growth Areas of Commercial Property, Mortgages and Rental
Services are on track to deliver 20-30% revenue growth for the year.

We continue to expect Underlying Operating Profit growth of 3-5%, and Underlying
Earnings per Share growth of at least 5% in 2026.

As previously noted, year-on-year growth in the second half of 2026 is expected
to be stronger than the first half, with first-half growth impacted by fewer New
Homes developments and the strong mortgage comparator last year.

Delivering further consumer and partner value through innovation

Rightmove remains the place to which consumers turn first and return most –
representing over 80% of all consumer time spent on UK property portals per
Comscore, and over 70% per SimilarWeb/Sensor Tower.[1]  Over 85% of traffic
continues to be organic and direct, and less than 0.5% is referral traffic from
large language models (LLMs), flat since the end of 2025.[2] Today we are
launching a new national brand campaign, `Glow’, across TV and digital channels,
which will reach 90% of UK target adults across the remainder of this year.

We continue to accelerate our technology innovation and AI integration,
delivering new tools and features to make the home-moving journey more digital,
informed and connected for consumers, and adding further value and features for
our partners.  In the first four months of the year, we recorded over 2,500
technology releases, over 20% higher than the same period in 2025, with April
2026 recording the most monthly releases ever in Rightmove’s history. As part of
this, we continue our multi-year journey to increase AI usage across the entire
business and now have 43 AI initiatives in flight, an increase from 31 at
December 2025.

Selected examples of innovation and product delivery across our platform
include:

· Expanding AI-powered conversational search on the platform, with early
adopters demonstrating a higher propensity to send leads.  We launched a ChatGPT
app in March and keep expanding our Apps features with Track a Property and AI
Keywords.
· In Estate Agency, Online Agent Valuation has reached penetration levels of
over 40% of available areas and remains our fastest-ever growing product. Across
our multiple valuation products, we have delivered over 60% more unique
valuation leads to partners year-on-year.
· In New Homes, developers are benefiting from refreshed Development Profiles,
a new Showcase Carousel and Virtual Tour Leads which have increased leads per
development by almost 50%.
· For Rental Operators, our new Rental Development Listing is already live for
over 100 rental developments, ahead of expectations.
· In Commercial Property, we launched a new suite of products for partners,
called Leader Advantage.
· In Mortgages, we successfully launched our new NatWest-powered Mortgage in
Principle, and recently launched an Equity Tracker, further expanding our suite
of valuation and affordability tools for consumers.[3]
· In Rental Services, Enhanced Leads now represent over 60% of all lettings
leads sent to partners, giving lettings agents over three times more datapoints
on prospective tenants compared to traditional leads.
· In partner education, we launched two new agent qualifications in
partnership with Propertymark. 10,500 agents are now enrolled in Rightmove’s
existing qualification, CELA.

Current end-market trends

The property market and partner and consumer engagement remain resilient despite
the uncertain macroeconomic backdrop. We continue to monitor the impact from
volatile global macro conditions, including interest and mortgage rate
expectations, as well as overall consumer and partner confidence.

Our latest leading property market data[4] shows:

· Mortgage rates higher compared to December, with average two- and five-year
fixed rates currently both at 5.1%, compared to 4.3% and 4.4% respectively on 31
December 2025;
· In the Resale market, house price growth remains positive.  Available
listing volumes are at an eleven-year high, and at the end of April were 1%
ahead of the same point last year;
· The Rental market continues to see an imbalance between supply and demand,
with rental prices ahead of last year but with reducing rent growth and demand.
There were, on average, 9 enquiries per available property in the period, lower
than the equivalent period in 2025 but still above the pre-COVID annual average
of 6-7; and
· New Homes developments in the market remain at low historical levels due to
continued softer build rates, which we expect to persist near-term.

Further updates

Rightmove’s American Depositary Receipt («ADR») programme was upgraded to a
sponsored Level 1 programme in April, trading on the over the counter (OTC)
Market under the symbol «RTMVY», as part of Rightmove’s ongoing engagement with
investors in North America.  There is no change to Rightmove’s underlying
ordinary shares, trading on the London Stock Exchange under the symbol «RMV».

From 27 February to 7 May, Rightmove completed £44m of the announced £90m share
buyback programme to complete by 31 July 2026.

Johan Svanstrom, CEO of Rightmove, said:

«The Rightmove team has executed strongly to date in 2026, with trading in line
with expectations and guidance reaffirmed. While we continue to monitor the
macro backdrop, we are delivering product-led ARPA growth in our Core business,
membership has increased since year-end, and revenue growth within our Strategic
Growth Areas is on track for the year.

«Building on our trusted brand and solutions, powerful data and network effects,
we are innovating across our platform faster than ever before. We continue to
embed AI into our efficient and expanding home-moving tool-set for both partners
and consumers, doing it with quality and outcomes in mind. During the period, we
delivered our highest-ever number of monthly product releases, further
strengthening our proposition and value creation through the platform. Early
engagement with our AI-powered conversational search tool is positive,
indicating long-term potential of this new search format next to the highly
trusted and used classic interface. We continue to develop useful formats under
our motto of `However you discover – we have you covered’.»

Forward-looking statements

This announcement includes statements regarding Rightmove’s outlook and
expectations for the financial year, including the reaffirmation of previously
issued guidance. These statements are forward-looking in nature and reflect
management’s current assumptions and expectations as at the date of this
announcement.

Forward-looking statements are subject to risks and uncertainties which could
cause actual results to differ materially, including changes in market
conditions, customer demand, competitive dynamics, regulatory developments and
other factors affecting Rightmove’s business.

Forward-looking statements speak only as at the date of this announcement.
Except as required by law or regulation, Rightmove undertakes no obligation to
update or revise any forward-looking statements.

Enquiries:

Investor [email protected]

Sodali & [email protected]

About Rightmove

· Rightmove’s vision is to give everyone the belief they can make their move,
by being the best place to turn and return to for the tools, insight and
expertise that make it possible, a vision delivered through long-term investment
in technology and innovation
· Rightmove is the UK’s largest property platform, with the biggest selection
of homes for sale and to rent and adding more listings than anyone else.
· Latest view from Comscore is over 80% of all time spent on property portals
is on Rightmove, and latest view from SimilarWeb is over 70% of time spent on
property portals in the UK is on Rightmove (two datasets used across the
industry to track time spent on portals).
· Innovation has shaped Rightmove’s evolution, from digitising property search
in its early years, to expanding tools that support affordability,
decision-making and confidence across the entire home-moving journey.
· In recent years, innovation has significantly accelerated, with investment
shifting beyond property search to the wider home-moving journey for consumers
and partners. This includes mortgage and affordability tools, digital valuation
products such as Online Agent Valuation, and a suite of property renovation
tools.
· Rightmove continues to invest in transforming how people search for
property, including evolving the search experience, launching AI-powered
conversational property search and experimenting with new discovery platforms,
including launching a Rightmove app within ChatGPT.
· Rightmove provides a continually evolving suite of tools to help partners
run and grow their businesses, including access to the UK’s largest and most
engaged home-moving audience, high-quality enquiries, data-led valuation and
insight tools, and effective marketing products
· Rightmove supports professional development through the Rightmove Hub,
offering official training and industry certification, including the Certificate
for Estate and Letting Agents, at no additional cost to an agent membership.
· Rightmove partners include estate and letting agents, new homes developers,
rental and build-to-rent operators, commercial property specialists, overseas
agents, financial services providers and home services businesses.
· For consumers, Rightmove offers a wide range of free, continuously evolving
tools to help people move home, from access to the UK’s largest choice of homes
and extensive listing information, to affordability tools, valuation services
and local market insights.
· Using the UK’s largest housing datasets, Rightmove issues a number of
regular reports to track housing market indicators: our monthly House Price
Index (established 2002), quarterly Rental Trends Tracker (established 2015),
weekly Mortgage Rates Tracker (established 2023) and quarterly Commercial
Insights Tracker (established 2024). Historical data is available on request.
· Founded in 2000, Rightmove listed on the London Stock Exchange in 2006 and
is a member of the FTSE 100 index.

[1] Time in minutes spent on Rightmove platforms (site and app): most recent
available month of data. Source: Comscore MMX® Desktop only + Comscore Mobile
Metrix® Mobile Web & App, Total Audience, Custom-defined list of Rightmove
sites, zoopla.co.uk, primelocation.com, onthemarket.com, United Kingdom, March
2026: 87%.  SimilarWeb (website), Sensor Tower (app), March 2026: 74%.

[2] Source: Google Analytics.

[3] https://www.rightmove.co.uk/press-centre/rightmove-launches-new-equity
-tracking-tool/

[4] House Price Index published on 20 April for the period 9 March – 5 April;
Rental Price Tracker published on 29 April for the period 1 January – 31 March;
mortgage rates available daily at
https://www.rightmove.co.uk/news/articles/property-news/current-uk-mortgage
-rates/.

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