Pricing of fixed rate guaranteed bonds

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (MAR).

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF SAGA PLC.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

25 June 2021

Saga plc

Pricing of GBP denominated fixed rate guaranteed bonds

Saga plc ("Saga" or "the Group"), the UK's specialist in products and services for people over 50, today announces the successful pricing of its offering (the "Offering") of £250 million 5.5 per cent. guaranteed unsecured bonds due 2026 (the "Bonds"), following the launch of the Offering on 22 June 2021.

The Bonds will be guaranteed by Saga Services Limited and Saga Mid Co Limited. The Bonds will be issued at par and interest will be paid semi-annually in arrear. It is expected that the Offering will close on 2 July 2021, subject to the satisfaction or waiver of certain customary closing conditions, and that the Bonds will be admitted to the Irish Stock Exchange's Official List and to trading on the Global Exchange Market of the Irish Stock Exchange.

The proceeds of the Offering will be used by Saga (i) to repay in full its existing £70m term loan, (ii) to fund the settlement of a concurrent tender offer for up to £100m of its existing outstanding unsecured bonds, and (iii) for general corporate purposes.

James Quin, Chief Financial Officer at Saga plc, commented:

"We are pleased with the strong response to this bond issuance as we continue to demonstrate good progress against all our strategic priorities.  The completion of this offering further strengthens our financial position and gives us greater financial flexibility as we return the business to sustainable growth and create significant long-term value for all our stakeholders."

The person responsible for making this announcement is Vicki Haynes, Group Company Secretary of Saga plc.

For further information please contact:

Saga plc

Mark Watkins                                                                                    Tel: 07738 777 479

Finance Director, Treasury                                                               Email: [email protected]

Emily Roalfe                                                                                       Tel: 07732 093 007

Head of Investor Relations                                                              Email: [email protected]

Headland Consultancy

Susanna Voyle                                                                                   Tel: 07980 894 557

Will Smith                                                                                           Tel: 07872 350 428

        Tel: 020 3805 4822

        Email: [email protected]

Important Notice  

This announcement has been issued by and is the sole responsibility of Saga. This announcement is not an offering document or an equivalent and investors should not subscribe for, or otherwise purchase, acquire, sell or dispose of any of the securities referred to in this announcement except on the basis of the information contained in the listing particulars to be published by Saga in connection with the Offering. The information contained in this announcement is for background purposes only and does not purport to be full or complete.

This announcement shall not constitute an offer of securities for sale in the United States. The Bonds have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state of the United States or any other jurisdiction and the securities may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws.

This announcement is for information purposes only and is addressed to and directed only at
(i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) other persons to whom they may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on in the United Kingdom, by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons in the United Kingdom and will be engaged in only with relevant persons.