5 December 2022

Satisfaction of conditions to sale of majority interest in NGGT and Metering

National Grid plc is pleased to announce that all the conditions relating to the sale of a 60% equity interest in its UK gas transmission and metering business ("NGG") to a consortium (the "Consortium") comprised of Macquarie Asset Management and British Columbia Investment Management Corporation (the "Transaction") have now been fully met. Completion of the Transaction is expected to occur on or around 31 January 2023.

Enquiries and contacts

Investors and Analyst:

Nick Ashworth                                     +44 (0) 7814 355 590

Angela Broad                                      +44 (0) 7825 351 918

James Flanagan                                 +44 (0) 7970 778 952

Jonathan Clay                                     +44 (0) 7899 928 247

Media:

Molly Neal                                           +44 (0) 7583 102 727

About National Grid Gas

National Grid Gas owns and operates the regulated gas National Transmission System ("NTS") in Great Britain, and also owns a regulated gas metering business.