Commencement of Share Buyback

Centrica plc

Commencement of next tranche of share buyback

In line with the capital allocation framework laid out in July 2023, and as part of its ongoing commitment to return surplus capital to shareholders, Centrica plc (the "Company") announces the commencement of the next £250 million tranche of its £1 billion share repurchase programme.

Since 15 November 2022 the Company has repurchased approximately £750 million of its ordinary shares. Execution of the tranche announced today (the "Second Tranche") of the £450 million share repurchase programme extension (the "2023-2024 Programme"), which was announced on 27 July 2023, will take the total amount of ordinary shares repurchased to approximately £1 billion.

For the Second Tranche, the Company has entered into an irrevocable arrangement with BNP Paribas Financial Markets S.N.C. ("BNP Paribas") (acting as riskless principal) to conduct the repurchases in respect of the Second Tranche on its behalf and to make trading decisions in respect of the Second Tranche independently of the Company.

The arrangement with BNP Paribas enables the purchase of ordinary shares for a period from 5 March 2024 up to and including 31 July 2024. The aggregate maximum consideration for the purchase of ordinary shares under the Second Tranche is £250 million (exclusive of associated fees, expenses and stamp duty), representing an amount equal to the aggregate value of approximately 3.7% of the Company's issued share capital at the closing share price on 4 March 2024. BNP Paribas may effect purchases of shares under the Second Tranche on the London Stock Exchange and/or other trading venues for subsequent purchase by the Company. Purchases by the Company will be treated as being made on the London Stock Exchange. The Company intends that any shares purchased will be (i) cancelled; or (ii) held in treasury pending their cancellation.

The purpose of the 2023-2024 Programme is to reduce the capital of the Company.

Any share purchase will be carried out in accordance with certain pre-set parameters. The maximum number of ordinary shares which may be purchased by the Company under the Second Tranche is 430,630,570, which is the maximum pursuant to the authority granted by shareholders at the Company's 2023 Annual General Meeting less the number of shares repurchased in the first £200 million tranche (the "First Tranche") of the 2023-24 Programme, which commenced on 10 October 2023 and completed on 1 March 2024.

The Second Tranche will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014/EU (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission Delegated Regulation 2016/1052/EU (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. No repurchases will be made in respect of the Company's American Depositary Receipts.

The Company will make further announcements in due course following any repurchase of shares. There is no guarantee that the Second Tranche will be implemented in full or that any shares will be bought back by the Company.

Enquiries:

Investors and Analysts

T: 01753 494900

E: [email protected]

Media

T: 01784 843000

E: [email protected]

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Centrica plc is listed on the London Stock Exchange (CNA)

Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654

Legal Entity Identifier number: E26EDV109X6EEPBKVH76

ISIN number: