Implementation of consent solicitation

NOT FOR DISTRIBUTION (A) IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (THE UNITED STATES) OR TO ANY U.S. PERSON (AS DEFINED BELOW) OR (B) IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

24 April 2026

ANNOUNCEMENT OF IMPLEMENTATION OF CONSENT SOLICITATION, WRITTEN EXTRAORDINARY RESOLUTION AND RE-LISTING

BY

PEABODY TRUST

(a registered society registered under the Co-operative and Community Benefit Societies Act 2014 with registered number 7741)

(the Issuer)

relating to

£350,000,000 2.750 PER CENT. SECURED SUSTAINABILITY BONDS DUE 2034

presently outstanding

(XS2445848539) (the 2034 Bonds)

£200,000,000 5.25 PER CENT. SECURED BONDS DUE 2043

presently outstanding

(XS0606218021) (the 2043 Bonds)

£80,000,000 4.665 PER CENT. SECURED BONDS DUE 2045

(XS1080221598) (the 2045 Bonds)

presently outstanding

£400,000,000 3.125 PER CENT. SECURED BONDS DUE 2047

presently outstanding

(XS1706110555) (the 2047 Bonds)

£450,000,000 3.25 PER CENT. SECURED BONDS DUE 2048

presently outstanding

(XS1875300912) (the 2048 Bonds)

£350,000,000 4.625 PER CENT. SECURED BONDS DUE 2053

presently outstanding

(XS1004042575) (the 2053 Bonds and, together with the 2034 Bonds, the 2043 Bonds, the 2045 Bonds, the 2047 Bonds and the 2048 Bonds, the Bonds)

The Issuer has today entered into:

(a)        the Novation and Amendment Deeds and the Restatement and Security Trust Consolidation Deed with Peabody Capital plc, Peabody Capital No 2 plc and TCHG Capital plc (the Old Issuers), as applicable, to give effect to the Substitution, the Amendments, the Consolidation and (where applicable) the Re-listing in respect of the 2034 Bonds, the 2043 Bonds, the 2045 Bonds, the 2048 Bonds and the 2053 Bonds, each as referred to in:

(i)         in the case of the 2034 Bonds, the 2043 Bonds, the 2048 Bonds and the 2053 Bonds, the Notice of Meeting (the Original Notice), the consent solicitation memorandum dated 27 January 2026 (the Consent Solicitation Memorandum) and the Notice of Results of Meeting (the Results Notice), each given by Peabody Capital plc, Peabody Capital No 2 plc; and

(ii)         in the case of the 2045 Bonds, the written Extraordinary Resolution of the sole holder of the 2045 Bonds dated 21 April 2026; and

(b)      a Supplemental Bond Trust Deed to give effect to the Re-listing in respect of the 2047 Bonds pursuant to a consent request letter dated 12 January 2026 agreed with the Bond Trustee in respect of the 2047 Bonds.

Application will be made for the Substitution of Peabody Trust as issuer in respect of the 2034 Bonds, the 2043 Bonds, the 2045 Bonds, the 2048 Bonds and the 2053 Bonds to be reflected in the Official List of the Financial Conduct Authority (the FCA) and the records of the London Stock Exchange.

The Issuer (with the consent of M&G Trustee Company Limited as Bond Trustee) has also applied for the 2043 Bonds, the 2045 Bonds, the 2047 Bonds, the 2048 Bonds and the 2053 Bonds to be removed from listing on the Official List of the FCA and from admission to trading on the main market of the London Stock Exchange and admitted to trading on the International Securities Market of the London Stock Exchange (the ISM) with effect from 26 May 2026.

The Bonds are Specialist Securities for the purpose of the ISM Rulebook.

The ISM is a market designated for qualified investors (as prescribed in Regulation 16 of the Public Offers and Admissions to Trading Regulations 2024 (SI 2024/105) (POATR)).  The London Stock Exchange, as a Recognised Investment Exchange does not make assessments of investor eligibility. Given that under Regulation 16 of POATR, only qualified investors are permitted to trade on ISM and no qualified investor is permitted to trade on behalf of persons who are not themselves qualified investors, financial intermediaries acting for investors are responsible for ensuring that only investors who are qualified investors as prescribed by Regulation 16 of POATR are permitted to trade on ISM. Securities admitted to trading on International Securities Market are not admitted to the Official List of the FCA.  The London Stock Exchange has not approved or verified the contents of this announcement.

Terms used in this announcement and not otherwise defined herein have the meanings given to them in the Original Notice, the Consent Solicitation Memorandum and the Results Notice.

For further information, please contact:

Anthony Marriott

Director of Treasury & Corporate Finance

Email: [email protected]