TIDM58WT

RNS Number : 6027U

National Gas Transmission PLC

29 March 2023

RNS Number: 6027U

National Gas Transmission plc

29 March 2023

Execution of a Deed Poll Relating to Outstanding Bonds

Further to its announcement on 27 March 2023, National Gas Transmission plc (the "Issuer") announces that it has today entered into a deed poll (the "Deed Poll") in favour of the trustees for each outstanding series of the Issuer's bonds named therein (the "NGT Bonds").

The Issuer has entered into the Deed Poll to commit to:

(i) adhering to a new capital markets negative pledge restriction with respect to incurring any new secured relevant indebtedness; and

(ii) providing the holders of NGT Bonds (the "Bondholders") certain additional rights to require their NGT Bonds to be redeemed early by the Issuer in the event of revocation, transfer or surrender of the Issuer's Gas Transporter Licence (as defined in the Deed Poll) and a consequential negative rating action or to trigger an event of default under the NGT Bonds if any other present or future indebtedness of the Issuer or any of its material subsidiaries becomes due and payable.

The Deed Poll takes effect from 29 March 2023.

The Deed Poll is available to Bondholders at https://www.nationalgas.com/about-us/investors. A list of NGT Bonds is contained in Schedule 1 (NGT Bonds) to the Deed Poll.

The Deed Poll has also been submitted to the National Storage Mechanism and will shortly be available for inspection in unedited full text at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

For further information, please contact:

   Anh Duong, Head of Treasury, Pensions and Insurance                  +44 (0) 7590 250 650

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