Dividend Declaration & Notice of AGM

30 July 2020

Severfield plc

('the Company' or 'the Group')

Declaration of final dividend, notice of Annual General Meeting and annual report for the year ended 31 March 2020

Annual General Meeting ('AGM')

Severfield plc, the market leading structural steel group, today announces that its AGM will be held on Thursday 3 September at 12pm.

In response to the COVID-19 pandemic, the UK government has issued guidance and restrictions on non-essential travel and public gatherings and social distancing. As a result of this, the 2020 AGM will be a closed meeting and shareholders will not be able to attend. Shareholders may ask questions in advance of the meeting by submitting an email to the Company ([email protected]).

Final dividend

As a result of the Group's strong balance sheet and cash position, the board is recommending a final dividend for the year ended 31 March 2020 of 1.8p per share, making a total for the year of 2.9p per share (2019: 2.8p per share). If the dividend is approved at the AGM on 3 September 2020, it will be paid on 11 September 2020 to shareholders on the register at the close of business on 14 August 2020.

The Group's strong financial position also means that, whilst we furloughed some of our workforce in the first quarter of the 2021 financial year, almost all of whom have since returned to work, we will not be claiming for support under any employee-related government support packages including the Coronavirus Job Retention Scheme.

Annual report and AGM notice

The annual report and accounts for the year ended 31 March 2020, notice of Annual General Meeting and form of proxy will be posted, or made available, to shareholders on 3 August 2020. These documents will be made available on the Company's website and will be submitted to the National Storage Mechanism, where they will be available for inspection on the Financial Conduct Authority website (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

For further information, please contact:

Severfield                                    Alan Dunsmore                                       01845 577 896

Chief Executive Officer

Adam Semple                                          01845 577 896

Group Finance Director

Mark Sanderson                                      01845 577 896

Company Secretary

Jefferies International                 Simon Hardy                                           020 7029 8000

Will Soutar                                              020 7029 8000

Camarco                                     Ginny Pulbrook                                       020 3757 4980

Tom Huddart                                           020 3757 4980

Notes to editors:

Severfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of c.150,000 tonnes of steel per annum. The Group has five sites, c.1,400 employees and expertise in large, complex projects across a broad range of sectors. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel (India's largest steel producer).