RNS Number : 2642O

Severn Trent PLC

02 October 2023

Severn Trent submits PR24 Business Plan

Severn Trent Plc announces that the Business Plan for Severn Trent Water for the regulatory period beginning 1 April 2025 and ending 31 March 2030 ("AMP8") has now been submitted to Ofwat.

We're pleased to be able to submit this ambitious plan that will invest GBP12.9 billion to deliver benefits for our customers, the environment, the region and shareholders, underpinned by a GBP550 million affordability package and strong shareholder support following a successful GBP1 billion equity raise.

Full details of the plan can be found at: www.stwater.co.uk/about-us/our-plans-2025-2030/

Previously published materials including an investor summary of the plan and investor presentation can be found at: www.severntrent.com/investors/

Capital Markets Day

On 12 October 2023 we will bring our plan to life at our Capital Markets Day in Coventry City Centre.

If unable to join us in person, video content will be made available online following the event, and you can register for a virtual Q&A with Liv Garfield, CEO, and Helen Miles, CFO, which are taking place:

   -     16 October 16:00 BST 
   -     18 October 07:00 BST 

To register or find out more please contact investorrelations@severntrent.co.uk .


   Investors & Analysts 
 Rachel Martin                 Severn Trent Plc    +44 (0) 7824 624 011 
 Head of Investor Relations 
 Jonathan Sibun                Teneo               +44 (0) 207 353 4200 
 Press Office                  Severn Trent Plc    +44 (0) 247 771 5640 

Important notices

This announcement does not constitute or form part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction. Securities may not be offered, sold or transferred in the United States absent registration or an applicable exemption from the registration requirements of the US Securities Act of 1933 (as amended) (the "Securities Act"). The securities of the Company have not been and will not be registered under the Securities Act. This announcement does not purport to contain all of the information that may be required to evaluate any investment in Severn Trent Plc or any of its securities and should not be relied upon to form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.

The information and opinions contained in this announcement are provided as at the date of this announcement, have not been independently verified and are subject to change without notice.

This announcement contains statements that are, or may be deemed to be, 'forward-looking statements' with respect to Severn Trent's financial condition, results of operations and business and certain of Severn Trent's plans and objectives with respect to these items.

Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would', 'should', 'expects', 'believes', 'intends', 'plans', 'projects', 'potential', 'reasonably possible', 'targets', 'goal', 'estimates' or words with a similar meaning, and, in each case, their negative or other variations or comparable terminology. Any forward-looking statements in this announcement are based on Severn Trent's current expectations and, by their very nature, forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future.

Forward-looking statements are not guarantees of future performance and no assurances can be given that the forward-looking statements in this announcement will be realised. There are a number of factors, many of which are beyond Severn Trent's control that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to: the Principal Risks disclosed in our latest Annual Report and Accounts (which have not been updated since the date of its publication); changes in the economies and markets in which the group operates; changes in the regulatory and competition frameworks in which the group operates; the impact of legal or other proceedings against or which affect the group; and changes in interest and exchange rates.

All forward-looking statements made in this announcement which are attributable to Severn Trent or any other member of the group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. The final PR24 Business Plan is subject to approval by Ofwat and there can be no assurance that the PR24 Business Plan will be approved, in whole or in part, and, as a result, no assurances can be given that the forward-looking statements in this announcement will be realised. This announcement speaks as at the date of publication. Save as required by applicable laws and regulations, Severn Trent does not intend to update any forward-looking statements and does not undertake any obligation to do so. Past performance of securities of Severn Trent Plc cannot be relied upon as a guide to the future performance of securities of Severn Trent Plc. Nothing in this announcement should be regarded as a profit forecast.

Certain information contained herein is based on management estimates and Severn Trent's own internal research. Management estimates have been made in good faith and represent the current beliefs of applicable members of Severn Trent's management. While those management members believe that such estimates and research are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice, and, by their nature, estimates may not be correct or complete. Accordingly, no representation or warranty (express or implied) is given to any recipient of this announcement that such estimates are correct or complete.

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(END) Dow Jones Newswires

October 02, 2023 02:00 ET (06:00 GMT)

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