Drax Group PLC

Capital/Financing Update • May 2, 2024

National Storage Mechanism | Additional information

RNS Number : 0679N

Drax Group PLC

02 May 2024

2 May 2024

DRAX GROUP PLC

(LSE: DRX)

Drax Finco plc, a wholly owned subsidiary of Drax Group plc, has made the below announcement on the Luxembourg Stock Exchange in respect of Drax Finco plc's €250,000,000 2.625% Senior Secured Notes due 2025

Notice of partial cancellation

€250,000,000 2.625% Senior Secured Notes due 2025 ("the Notes")

ISIN Number: XS2247614063* Common Code: 224761406*

On 2 May 2024, Drax Group plc's ("Drax") indirect wholly owned subsidiary, Drax Finco plc (the "Company"), a pub l ic l imi ted c ompany incorporated un der the laws of Eng land and  W a l es, gave no t i ce, in accordance w ith Sec t ion 2.11 of the i ndentu re dated 4 November 2020, that following the results of the tender offer announced on 25 April 2024, the Company has repurchased and cancelled €106,180,000 (42.47%) of the aggregate principal amount of the Notes. Following this cancellation, the remaining aggregate principal amount of the Notes outstanding of €143,820,000 will continue to be listed on the Luxembourg Stock Exchange.

*These ISIN and Common Code numbers are included solely for the convenience of the holders. Neither the Trustee, the Company nor the Paying Agent shall be responsible for the selection or use of any ISIN or Common Code number, nor is any representation made as to its correctness or accuracy on any Fixed Rate Note or as referred to in any redemption notice.

E nquiries:

Drax In vestor Re lat ion s: Mark Strafford

mark.strafford@drax.com

• 44 (0) 7730 763 949

Media:

Drax External Communications: Andy Low

andrew.low@drax.com

• 44 (0) 7841 068 415

W ebsite: www .dra x . com

Cautionary S tatement

This relea se is for info r mation purposes only and does not c onstitute a prospe c tus or any offer to sell or the s o li c itat ion of an offer to buy any security in t he Uni ted States of Ame r i ca or in any other jurisdi cti on. Securit ies may not be o ffered or sold in t he Uni ted States of A merica absent reg i strat ion or an e x emp t i on f rom reg i stration under the Securit ies A ct.

This com mun i cation is di r e cted on ly at pe rsons who (i) ha ve p r ofess i onal expe r ience in matters relat ing to investments fa l ling w ith in A rti cle 19(5) of the Fi nan cial Serv i ces and Markets A ct 2 000 (Financial P r omo t ion) Order 2005 as amen ded (the "O rde r"), (ii) are pe rsons fa l l i ng wi thin A r t i c le 49 (2)(a) to (d) (" h igh net wo rth com pan ies, u n incorporated association s, etc.") of the Orde r, (i ii) are persons who a re outside the Un ited K ingdo m, or (i v) are persons to whom an inv i tati on or inducem ent to enga ge in investment ac t i v ity (wi thin t he m ean ing of section 21 of the Financial Serv i ces and Ma rkets A ct 2000) in conn e ction w ith the i ssue or sale of any notes may othe rwi se lawful ly be communi cated or c aused to be communi c ated (all such persons tog ether being referred to as "relevant pe rson s").

A ny investment ac t i v ity to whi ch this c omm uni cat i on relates wi ll on ly be avai lab le to, and w i ll only be engaged in wi th, r e levant person s. Any pe rson who is not a relev ant pe rson s hou ld not act or re ly on this docum ent or any of its contents.

This anno uncem ent is not a p ubl ic offer ing in the Grand Du chy of Luxem bou rg or an of fer of secur ities to the p ubl ic under Regu lat ion (EU) 20 17/1129, and a ny amendm ents thereto.

Manufacturer target ma rket (MiFID II p r odu ct governan ce) is el i g ible counte r parti es and p r ofess i onal c lients on ly (all d i stributi on chann e l s). No PRII Ps key info rmati on docum ent (KID) has been prepared as the Notes are not a v a il able to retail investors in the European E c ono m ic A r ea.

E ND

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