20 August 2024

Drax Group plc

("Drax"; Symbol: DRX)

New sustainability-linked £450 million revolving credit facility

Drax is pleased to announce that it has completed the refinancing of its revolving credit facility (RCF) ("The Facility").

The new sustainability-linked £450 million facility matures in 2027, with options to extend by two years⁽¹⁾. The Facility, which provides additional liquidity, replaces the current £300 million RCF which matures in 2026 and is undrawn for cash.

The Facility has a customary margin grid referenced over SONIA (Sterling Overnight Index Average) with adjustments linked to certain Scope 1, 2 and 3 carbon emissions which are based on the Group's 2030 SBTi targets.

Separately, Drax has also completed a £50 million term-loan facility which matures in 2028 with a one-year extension option⁽²⁾. The term-loan has a customary margin referenced over SONIA and will be used for general corporate purposes.

Notes

(1) The facility includes two one-year extension options which are subject to lender consent.

(2) Subject to lender consent.

Enquiries:

Drax Investor Relations: Mark Strafford

+44 (0) 7730 763 949

Media:

Drax External Communications: Ali Lewis

+44 (0) 0771 267 0888

Website: www.drax.com

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