23 February 2022

Drax Group plc

("Drax" or the "Company"; Symbol: DRX)

Capacity Market Agreements

T-4 auction - provisional results for existing pumped storage and hydro assets

Drax confirms that it has provisionally secured agreements to provide a total of 621MW of capacity (de-rated 586MW) principally from its pumped storage and hydro assets⁽¹⁾. The agreements are for the delivery period October 2025 to September 2026, at a price of £30.59/kW⁽²⁾, with income of around £18 million in that period. These are in addition to existing agreements which extend to September 2025.

Enquiries:

Drax Investor Relations: Mark Strafford

+44 (0) 7730 763 949

Media:

Drax External Communications: Aidan Kerr

+44 (0) 7849 090 368

Website: www.drax.com

Notes:

(1)   Cruachan Pumped Storage, the Galloway hydro scheme (Tongland, Kendoon and Glenlee) and three small legacy gas turbines at Drax Power Station (96MW, de-rated 92MW).

(2)   Capacity Market agreements stated in 2020/21 real-terms, with payments indexed to UK CPI.

END