49UW Cadent Fin 48

TIDM49UW TIDMTTM

RNS Number : 2980E

Cadent Finance PLC

29 June 2023

Cadent Finance plc announces that the Maximum Acceptance Amount is EUR500,000,000

in respect of its Tender Offer

for its EUR750,000,000 Fixed Rate Instruments due 2024

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, 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 OF AMERICA OR THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

29 June 2023 . Cadent Finance plc (formerly known as National Grid Gas Finance plc) (the Offeror) announces today that the Maximum Acceptant Amount is EUR500,000,000 in respect of its invitation to holders of its EUR750,000,000 Fixed Rate Instruments due 2024 (ISIN: XS1493320656) (the Instruments) guaranteed by Cadent Gas Limited (formerly known as National Grid Gas Distribution Limited) (the Guarantor) to tender their Instruments for purchase by the Offeror for cash (the Offer).

The Offer was announced on 26 June 2023 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 26 June 2023 (the Tender Offer Memorandum). Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer is 4.00 p.m. (London time) on 4 July 2023. An announcement by the Offeror of the aggregate nominal amount of the Instruments which were validly tendered for purchase pursuant to the Offer, together with a non-binding indication of the level at which the Offeror expects to set the Final Acceptance Amount (and indicative details of any pro rata scaling) is expected to be made prior to the Pricing Time on 5 July 2023.

Barclays Bank PLC ( Telephone: 44 20 3134 8515; Attention Liability Management Group; Email: eu.lm@barclays.com); BNP Paribas (Telephone: +33 1 55 77 78 94; Attention: Liability Management Group; Email: liability.management@bnpparibas.com ); Cr édit Agricole Corporate and Investment Bank (Telephone: +44 20 7214 5733; Attention: Liability Management; Email: liability.management@ca-cib.com); Mizuho International plc (Telephone: +44 20 7090 6134; Attention: Liability Management; Email: liabilitymanagement@uk.mizuho-sc.com); SMBC Nikko Capital Markets Limited (Telephone: +44 204 507 5043; Attention: Liability Management; Email: liability.management@smbcnikko-cm.com ) are acting as Dealer Managers and Kroll Issuer Services Limited (Telephone: +44 20 7704 0880; Attention: Owen Morris; Email: cadent@is.kroll.com; Website: https://deals.is.kroll.com/cadent) is acting as Tender Agent.

This announcement is released by the Offeror and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the EUWA (UK MAR), encompassing information relating to the Offer described above. For the purposes of UK MAR and the Implementing Technical Standards, this announcement is made by Tom Sacker (Director of Treasury, Corporate Finance and Planning), as attorney for Cadent Finance plc.

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offeror, the Guarantor, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

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June 29, 2023 03:00 ET (07:00 GMT)

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