SW (FINANCE) I PLC

(LEGAL ENTITY IDENTIFIER: 549300BHN1HB5BNG2R96)

SOUTHERN WATER SERVICES LIMITED

Liquidity Update

3 December 2025

Following the Liquidity Update announcement made by SW Finance (I) plc (the "Company") and Southern Water Southern Water Services ("Southern Water") on 8 July 2025, Southern Water has significantly increased its liquidity.

Firstly, through the issuance by the Company of over £1.5 billion of new bonds; as planned, the undrawn £800 million facility referred to in the 8 July 2025 announcement was replaced by these new bonds.

Secondly, in November 2025, Southern Water successfully removed potential break payments on certain legacy swaps, further improving its liquidity.

Lastly, on 3 December 2025, Southern Water successfully agreed a new £500 million liquidity facility available until December 2026. This replaces an existing facility of £675 million which was due to mature in April 2026.

In addition to the above, Southern Water maintains a £350m revolving credit facility which is currently undrawn.

As per the announcement on 8 July 2025, Southern Water still expects to announce further binding equity commitments during December 2025. This is in addition to the £655 million equity committed earlier this year, of which £505 million was drawn in November 2025 with the remaining £150 million due to be drawn in March 2026.

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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