AFFINITY WATER FINANCE PLC

AFFINITY WATER FINANCE (2004) PLC

AFFINITY WATER ANNOUNCES CHANGE TO ITS BOARD OF DIRECTORS

1 April 2022

Affinity Water Limited ("Affinity Water") announces that Anthony Roper, non-executive director, and shareholder representative of InfraRed Capital Partners Limited will step down from the Board on 31 March 2022 having been appointed on 25 July 2018. Susan Hooper, independent non-executive director will also step down from the Board on 31 March 2022 having been appointed on 30 November 2015.

Michael Osborne will take over from Anthony Roper with effect from 1 April 2022. 

Michael is an accomplished investment professional who began his career in 2002 with Ernst & Young and then moved to Citi, where he advised on project financing, mergers and acquisitions and capital raising within the infrastructure sector. He has overseen investments in various capital markets and spent six years with Corsair Capital as a Principal, where he also served as a director of Corsair portfolio companies Kelda Holdings (from 2013), its regulated subsidiary Yorkshire Water Services (from 2017), and Itínere Infraestructuras, a toll road platform in Spain (from 2014). Michael is currently Director, Asset Management for InfraRed Capital Partners.

Chairman of Affinity Water, Ian Tyler said:

"I would like to warmly thank Susan and Anthony for their valuable contributions and highly relevant experience they have brought to the Board of Affinity Water Limited. I am delighted to welcome Michael to the Board. I look forward to working with him and I am confident that he will bring unique expertise and insights as we head into PR24."

Anthony Roper said:

"I have enjoyed serving on the Board at Affinity Water and am pleased to be handing over to Michael Osborne whose experience will help steer Affinity successfully in facing the challenges and opportunities in the water sector."

Susan Hooper said:

"My time on the Affinity Board was most enjoyable having seen through various changes including the appointment of a new Chair and the transition to AMP7. As the company transitions yet again to AMP8, I believe there is sufficient strategic and operational management strength to deliver on its AMP7 commitments and delivery outcomes for the PR24 regulatory period."

Michael Osborne said:

"I am delighted to join the Affinity Water Board and look forward to be part of a Board that will support the Affinity Water Management team to deliver on its commitments to stakeholders on AMP7 and prepare for PR24."

ENDS

For further information, please contact:

Affinity Water Limited

Tamblin Way

Hatfield

Hertfordshire

AL10 9EZ

Telephone:       +44 7870 847243

Email:               [email protected]

Attention:         Sunita Kaushal, General Counsel and Company Secretary

This notice is given by:

Affinity Water Limited

This announcement is released by Affinity Water Limited on behalf of itself, Affinity Water Finance PLC, and Affinity Water Finance (2004) PLC and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the Substitution described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Sunita Kaushal at Affinity Water Limited.