The locomotive is not in working order and there are currently no confirmed plans to restore it to working order. Its transfer does, however, offer the railway a future option for expansion of the working steam locomotive fleet. Initially "Conqueror" will become an exhibit in the W&LLR’s display shed at Welshpool. Here it will be reunited with another former Bowater's locomotive, the ex Bowaters Paper Mills articulated Bagnall built 0-4-0+0-4-0T No. 6 ‘Monarch’ ,which was the first steam locomotive not original to the line acquired by the preservation company back in 1966.

"Conqueror" spent its entire pre-preservation life working at Bowater's paper mill in Kent, which part of the line there is now the preserved Sittingbourne & Kemsley Light Railway. It famously suffering a ducking in 1953 when severe flooding opened up a void on a wharf-side which the loco fell into. Following the closure of the paper mill, ‘Conqueror’ was one of four locomotives acquired by Sir William McAlpine for a new circular line he was building at Whipsnade Zoo in Bedfordshire which is today the Great Whipsnade Railway. The locomotive hauled the first train on the complete line in 1973 with Princess Margaret as a passenger. "Conqueror" operated on the Whipsnade line until 1983 when it was withdrawn from service for overhaul and stored alongside the shed.

In 1994 it was acquired by enthusiast Peter Rampton and joined the large collection of locomotives from around the world stored privately at his premises in Surrey. Following Peter Rampton’s passing in 2019 responsibility for the collection passed to the Vale of Rheidol Railway and some items have since found homes in the railway’s new museum at Aberystwyth. Others have been passed to new owners in circumstances when the Vale of Rheidol directors considered they could be more useful, and this led to negotiations to transfer ‘Conqueror’ to the Welshpool & Llanfair Light Railway. As part of a long-term plan to consolidate and focus the Vale of Rheidol Railway’s collection of historic locomotives, the Railway are very pleased to have agreed the gift of 2ft 6in gauge Bagnall built locomotive to the Welshpool and Llanfair Light Railway Preservation Co. Ltd. Being of the wrong gauge to run on the Vale of Rheidol Railway which is 2ft gauge, it was felt that it was appropriate that the loco should move to a railway of the correct gauge with a long-term potential for restoration and return to service.