ANNOUNCEMENT OF THE SCHEME EFFECTIVE DATE

SW (FINANCE) I PLC

Released 10 October 2025

SW (Finance) I PLC

10 October 2025

On 9 October 2025, SWS Holdings Limited (the "Scheme Company"), the proposed scheme of arrangement under Part 26 of the Companies Act 2006 proposed by the Scheme Company in relation to the Scheme Creditors (the "Scheme") substantially in the form tabled at, and approved by, the Scheme Creditors at the four Scheme Meetings which took place in accordance with the Convening Order on 30 September 2025, was sanctioned by an order made by Mr Justice Richards, sitting in the High Court of Justice of England and Wales (the "Court"), on 9 October 2025 (the "Sanction Order").

Notice is hereby given that, pursuant to the Scheme, the Scheme Effective Date has occurred today, 10 October 2025, following the delivery of an office copy of the sealed Sanction Order to the Registrar of Companies for registration of the Scheme.

Pursuant to the Scheme, the Scheme CTA Amendment Agreement will be entered into by the Scheme Company, SWS and the Security Trustee.

The Scheme Company shall, and the Scheme Company shall procure that SWS will, use reasonable endeavours to ensure that, insofar as it is within its control to do so, each of the Transaction Effectiveness Conditions under the Scheme CTA Amendment Agreement are satisfied in accordance with the terms of the Scheme CTA Amendment Agreement prior to the Condition Satisfaction Longstop Time.

The Scheme forms part of the group's broader recapitalisation to, amongst other things, provide equity to SWS from a consortium led by funds managed by Macquarie Asset Management to support SWS' AMP8 investment programme. This comprises a legally binding equity commitment of £655 million, provided on the terms of an equity commitment letter, and a confirmation of intent to provide further equity commitments of up to an additional £545 million, with a minimum of £245 million, by December 2025.

Capitalised terms used but not defined in this announcement shall have the meaning given to them in the Scheme.

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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