SSE plc

RESPONSE TO MEDIA SPECULATION

20 September 2021

SSE plc notes recent media speculation regarding plans to split the SSE Group.

As outlined in May, SSE will provide an update on its plans to further accelerate growth in its portfolio with its Half Year Results in November, including details of significantly increased capital investment for the period to 2026, sources of funding and the company's vision for further growth into the 2030s. This will include ambitions for installed renewable and flexible capacity, as well as networks RAV projections.

Following recent reshaping of the group, SSE's clear strategic focus is on renewables and regulated electricity networks, supported by carefully chosen businesses. SSE's businesses have exciting growth potential aligned with net zero targets and share common capabilities in the development, construction, financing, and operation of low-carbon electricity infrastructure.  SSE is currently building more offshore wind than any company in the world, expanding internationally, and investing in the low-carbon electricity infrastructure that society needs.

There has been no decision to break up the SSE Group. The Board remains fully focused on strategic choices which will drive shareholder value from the wealth of net zero opportunities the Company is creating.

Alistair Phillips-Davies, Chief Executive of SSE, said:

"We have been making excellent progress with our clear net zero-aligned strategy, centred on electricity networks, renewables and other carefully chosen businesses that help provide the low-carbon electricity infrastructure that government and wider society requires. SSE is the UK's national low-carbon energy champion, delivering for both our shareholders and society and we look forward to updating investors on our plans to accelerate growth and create value in due course."

ENDS 

Contact:

Media:  [email protected]  |  +44 (0)345 0760 530;          MHP Communications:

Sam Peacock, Glenn Barber, Lee-Ann Fullerton               Oliver Hughes and Simon Hockridge

07885 224 532 / 07709 496 125

Investors: [email protected]  |  +44 (0)345 0760 530 

Sally Fairbairn, Michael Livingston