ANNOUNCEMENT OF THE PRACTICE STATEMENT LETTER

SW (FINANCE) I PLC

Released 5 August 2025

SW (Finance) I PLC

5 August 2025

SWS Holdings Limited (the "Scheme Company") announces that it has executed and published a practice statement letter dated 5 August 2025 ("Practice Statement Letter") in relation to a proposed scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme") between the Scheme Company and each creditor under the Scheme (the "Scheme Creditors").

The Practice Statement Letter is addressed to the Scheme Creditors. Creditors are encouraged to read the Practice Statement Letter, which is available online through the website https://deals.is.kroll.com/southernwater set up by Kroll Issuer Services Limited as Information Agent in connection with the Scheme. Creditors will need to contact the Information Agent at [email protected] to receive a password to access the website and view the Practice Statement Letter. The Practice Statement Letter outlines the Scheme Company's proposed Scheme, its proposed effects and next steps for creditors.

The Practice Statement Letter is also available for inspection at the offices of Kroll Issuer Services Limited, at The News Building, 3 London Bridge Street, London, SE1 9SG, United Kingdom.

Creditors should contact the Information Agent at [email protected] with any questions on accessing the Practice Statement Letter.

CREDITORS ARE ENCOURAGED TO REVIEW THE PRACTICE STATEMENT LETTER (A COPY OF WHICH IS AVAILABLE AT HTTPS://DEALS.IS.KROLL.COM/SOUTHERNWATER) AND SEEK THEIR OWN LEGAL AND FINANCIAL ADVICE SHOULD THEY HAVE ANY QUERIES IN RELATION TO ITS CONTENTS

Background

The Scheme Company announced that it had secured an offer of equity support from a consortium led by funds managed by Macquarie Asset Management to support its AMP8 investment programme, comprising a legally binding equity commitment of £655 million (the "Initial AMP8 Equity Commitment") provided on the terms of an equity commitment letter ("ECL") and confirmation of intent to provide further equity commitments of up to a further £545 million - and with a minimum of £245 million - by December 2025. On 8 July 2025, the Scheme Company announced that it has entered into a lock-up agreement (the "LUA").

As at 4 August 2025, the LUA has been signed or acceded to by approximately 77 per cent. in aggregate by value of the Scheme Creditors.  

Financing creditors that are party to or accede to the LUA by the date specified in the LUA are entitled to a fee of £1,000 each. Creditors should contact the Lock-Up Agent at [email protected] with questions on how to accede to the LUA.

For further information, please contact Stuart Ledger (Group CFO) at:

Address:          Southern House, Yeoman Road, Worthing, BN13 3NX, United Kingdom

Tel:                  01903 272 611

Email:              [email protected] 

DISCLAIMER - INTENDED ADDRESSEES

This announcement is a communication to the market. Nothing in this announcement constitutes an offer of securities for sale in the United States or any other jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document.

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