SCRIP Reference Price

SSE PLC

SCRIP DIVIDEND SCHEME

The Board of SSE plc ('the Company') confirms that the Scrip reference price for the fully paid ordinary shares to be issued to shareholders electing to receive the Scrip dividend alternative for the interim dividend for the year ending 31 March 2021, payable on 11 March 2021, will be 1,523 pence per share.

The Scrip reference price has been calculated by taking the average mid-market closing price of the Company's shares over the five business days commencing on the ex-dividend date. In respect of the interim dividend for the year ending 31 March 2021, this was the period 14 to 20 January 2021.

If all of the Company's eligible shareholders as at the record date of 15 January 2021 were to elect to participate in the Scrip Dividend Scheme in respect of their entire shareholdings as at such date, based on the Scrip reference price of 1,523 pence per share, the maximum number of shares required to be issued by the Company, for Scrip dividend purposes, would be 16,695,334 representing approximately 1.59% of the Company's issued share capital (excluding treasury shares) on the record date.

The exact number of shares which will require to be issued will be established after 11 February 2021, the final date for receipt of elections to participate in the Scrip Dividend Scheme.  

Shareholders wishing to participate in the Scrip Dividend Scheme should contact Link Asset Services and return their mandate forms to arrive no later than 11 February 2021.  Shareholders wishing to withdraw from the Scrip Dividend Scheme should ensure their requests to withdraw are lodged with Link Asset Services to arrive no later than 11 February 2021.

Shareholders who hold their shares in uncertificated form should consult their Crest sponsors as appropriate.

Scrip dividend timetable for the interim dividend for the year ending 31 March 2021

Ex-dividend date                                                   14 January 2021

Record date                                                           15 January 2021

Scrip reference price calculation period            14 - 20 January 2021

Last date for receipt of Scrip elections             11 February 2021

Dividend payment/Scrip issue date                  11 March 2021