Hardman & Co Research / GB00B12RQD06

Hardman & Co Research on H&T Group: Pawnbroking: the global perspective for H&T   In this note, we put pawnbroking into a global and historical context: i) the global market is large, ca.$40bn, UK just ca.5%; ii) pawnbroking is widely adopted across a range of cultures/geographies from China, India, Islamic countries to US, Europe and UK; iii) many UK immigrants are comfortable with pawnbroking from experiences in their country of origin; iv) the largest listed pawnbrokers trade at over 2x the PER rating of H&T with similar forward earnings growth; iv) it is generally a regulated business with largely favourable regulators’ comments, as in the UK. Pawnbroking has been available globally for centuries, debunking the misconception some have of it as a UK Dickensian practice.   Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/pawnbroking-the-global-perspective-for-hat/   If you are interested in meeting the company, you can register your interest by clicking on the above link.

To contact us: Hardman & Co 9 Bonhill Street London EC2A 4DJ   www.hardmanandco.com   Follow us on X @HardmanandCo

Contact: Mark Thomas

mt@hardmanandco.com

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.