71ZU Scot Gas 43

TIDM71ZU TIDM12FC

RNS Number : 4698W

Scotland Gas Networks PLC

22 December 2021

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014, AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("MAR"), AS IT FORMS PART OF UK DOMESTIC LAW ("UK MAR") BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

22 December 2021

SCOTLAND GAS NETWORKS PLC

(incorporated with limited liability under the laws of Scotland under registered number SC264065)

(Legal Entity Identifier 549300Y7M5CC1U5DBX07)

and

SOUTHERN GAS NETWORKS PLC

(incorporated with limited liability under the laws of England under registered number 05167021)

(Legal Entity Identifier 549300SPX8573VZ2SK79)

(together, the "Issuers")

Sale of Stake in SGN Group

OMERS has today announced the sale of its entire 25% stake in Scotia Gas Networks Limited and its group of companies including the Issuers (altogether "SGN") to Global Infrastructure Partners (GIP).

The transaction is expected to complete within the current financial year and is conditional on certain regulatory approvals.

SGN is the second largest gas distribution network in the UK, and owns Scotland Gas Networks plc and Southern Gas Networks plc, two of the eight regulated gas distribution networks in England, Wales and Scotland, operating under a licence from Ofgem to distribute gas through their infrastructure network. SGN serves nearly six million homes and businesses.

GIP is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP invests in the energy, transport, water/waste and digital sectors in both OECD and select emerging market countries. GIP manages approximately US$ 77 billion for its investors. GIP's 46 portfolio companies employ approximately 63,000 people in over 50 countries. GIP's teams are located in 10 offices: London, New York, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. For more information, visit www.global-infra.com .

John Morea, CEO of SGN, said:

"SGN has a pioneering role in shaping the UK's energy future, so GIP's investment is good news and we look forward to working with GIP as part of the SGN Board. We would like to thank OMERS for a successful and productive relationship during the past 17 years. As the start of a new year approaches, we remain fully committed to advancing a range of innovative projects that will place hydrogen and other green gases at the heart of the UK's energy transition. The UK's gas networks are key to meeting ambitious net zero goals and we look forward to being part of the solution as we continue to provide excellent service for our customers."

ENDS

DISCLAIMER

This announcement is a communication to the market. Nothing in this announcement constitutes an offer of securities for sale in the United States or any other jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document.

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For further information, please contact:

Scotland Gas Networks PLC and Southern Gas Networks PLC

Denis Kerby

Head of Corporate Communications

St Lawrence House

Station Approach

Horley, Surrey

RH6 9HJ

Tel: +44 (0) 845 070 1811

Email: sgn.press.office@sgn.co.uk

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END

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December 22, 2021 02:04 ET (07:04 GMT)

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