LiveWest Treasury plc

29 January 2026

Merger Announcement

LiveWest Treasury plc (the Issuer) announces that on 29 January 2026, LiveWest Homes Limited (the parent of the Outgoing Issuer and the initial guarantor in respect of the Notes referred to below (the Initial Guarantor)) became a subsidiary of Bromford Flagship Limited (which is to be renamed Bromford Flagship LiveWest Limited) (BFL).

BFL will serve as the Group parent undertaking. Bromford Housing Association Limited, Merlin Housing Society, Flagship Housing Limited and LiveWest Homes Limited will continue as landlords and employers and operate as subsidiaries within the Group, maintaining strong local identities and operational presence.

Following completion, the Group now owns and manages homes, serving approximately 300,000 customers across east, central and southwest England.

The merger represents a further significant milestone in the Group's long-term strategy to unlock additional financial capacity to deliver more affordable homes, while continuing to invest in existing homes and services. Completion follows comprehensive due diligence, regulatory approvals, consultation with customers and engagement with key stakeholders.

Board and Executive team update

The Board of Directors and Executive team for the enlarged Group have been confirmed. Fuller details are shown on the website here.

Strategic benefits of the merger

The merger unlocks significant additional financial capacity beyond that which either organisation could achieve independently.

This includes:

·     A further £1.5 billion of financial capacity, as well as the £1.9bn arising from the Bromford and Flagship merger, taking total additionality from both mergers to £3.4 billion

·    The potential to deliver over 50,000 new homes by 2040, including around 7,000 more homes than would have been possible without the merger

·      A continued strong focus on delivering homes at social rent

·     Investment in existing homes, services and neighbourhoods and the potential to increase investment in regeneration

·     Further progress on place-based working, supporting thriving communities

Robert Nettleton, Chief Executive Officer of the Group, said: "The need for affordable housing continues to grow and organisations with our strength and scale have a responsibility to step up. This merger enables us to do exactly that by unlocking additional capacity to deliver thousands more affordable homes while continuing to invest in our existing homes and services for our customers."

Customer focus

The Group's commitment to customers remains unchanged. Services will continue to be delivered with a strong local presence, supported by locally based teams.

Next trading update

The Group intends to publish its next trading update for the year ending 31 March 2026 in line with its established reporting timetable, expected to be in May 2026.

For further information, please contact:

Rachael Sivewright, Head of Treasury

Tel: 01392 302448

Email: [email protected]

https://www.livewest.co.uk/about-us/for-investors