7 September 2022

BARRATT DEVELOPMENTS PLC

Share repurchase programme

7 September 2022: On 7 September 2022 in its Annual Results for the year ended 30 June 2022, Barratt Developments PLC (the "Company" or "Barratt Developments") announced the launch of a share buyback programme of up to £200 million to be completed no later than 30 June 2023 (the "Buyback Programme").

Barratt Developments announces that, pursuant to the Buyback Programme, it has today instructed Credit Suisse International ("CSI") in relation to an irrevocable non-discretionary agreement to purchase up to £50 million (excluding expenses) of the Company's ordinary shares of 10 pence each ("Shares"), during the period commencing on 8 September 2022 and ending no later than 16 November 2022 (the "Initial Tranche") (Note 1). CSI will act as riskless principal, and any Shares acquired by CSI under the Initial Tranche will be simultaneously on-sold by CSI to the Company.

CSI will make its trading decisions concerning the timing of the purchases of the Shares independently of the Company. Any repurchase of Shares contemplated by this announcement will be carried out on the London Stock Exchange. For the avoidance of doubt, no repurchases will be made in respect of the Company's American Depositary Receipts.

The purpose of the Buyback Programme is to reduce the share capital of the Company. As such, the Company will cancel any Shares purchased under the Initial Tranche.

Any acquisitions of Shares under the Initial Tranche will be carried out within certain pre-set parameters and in accordance with the Company's existing general authority to repurchase Shares. The Initial Tranche will be conducted within the parameters prescribed by the Market Abuse Regulation (596/2014) (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission Delegated Regulation (EU) 2016/1052 (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and in accordance with Chapter 12 of the UK Listing Rules. Any repurchase of Shares will be announced no later than 7:30 a.m. on the business day following the calendar day on which the repurchase occurred.

Barratt Developments expects to announce a second tranche of the Buyback Programme in due course.

Note 1.

The maximum number of Shares that the Company may purchase is 101,956,532, in line with the authority granted to Barratt Developments by shareholders at the Company's Annual General Meeting on 13 October 2021.

Barratt Developments PLC

Mike Scott, Chief Financial Officer                                         07881 327 748

John Messenger, Group Investor Relations Director              07867 201 763

Media enquiries

Tim Collins, Head of Corporate Communications                 020 7299 4874

Brunswick

Jonathan Glass / Rosie Oddy                                                 020 7404 5959

Barratt Developments PLC LEI: 2138006R85VEOF5YNK29

Barratt Developments PLC is the country's largest housebuilder, committed to building high quality, energy efficient homes across its 29 divisions in England, Wales and Scotland. An industry leader in quality and customer service, this year Barratt was awarded 5 stars by its customers in the HBF satisfaction survey for the 13th consecutive year and its site managers received more NHBC Pride in the Job Quality awards than any other housebuilder for the 18th year in a row.

For more information visit:

Barratt Developments, Barratt Homes and David Wilson Homes