ANNOUNCEMENT OF THE CONVENING HEARING

SW (FINANCE) I PLC

Released 1 September 2025

SW (Finance) I PLC

1 September 2025

SWS Holdings Limited (the "Scheme Company") confirms the details of the convening hearing (the "Convening Hearing") 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") as follows:

Date: 2 September 2025

Time: 10:30 a.m.

Location: 7 Rolls Buildings, Fetter Lane, London EC4A 1NL

The Convening Hearing is for an order granting the Scheme Company certain directions in relation to the Scheme, including permission to convene a number of meetings of the Scheme Creditors for the purposes of considering, and, if thought fit, approving the Scheme.

The Scheme Creditors have the right to attend in person or through counsel and make representations at the Convening Hearing.

The time of the Convening Hearing will also be posted on the Scheme Website (https://deals.is.kroll.com/southernwater).

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 1 September 2025, the LUA has been signed or acceded to by approximately 72 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]

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