Centrica plc

Commencement of £450m Share Buy-Back extension

On 27 July 2023, Centrica plc (the "Company") announced an intention to extend its share repurchase programme by repurchasing an additional £450 million of its ordinary shares (The "2023-2024 Programme"), subject to market conditions at the time of completion of the £300 million share repurchase programme that was announced on 5 April 2023 (the "2023 Programme"). As announced on 9 October 2023, the 2023 Programme completed on 6 October 2023.

The Company today announces the commencement of trading in a first tranche of the 2023-2024 Programme (the "First Tranche"). The Company has entered into an irrevocable arrangement with Goldman Sachs International ("Goldman Sachs") (acting as riskless principal) to conduct the repurchases in respect of the First Tranche on its behalf and to make trading decisions in respect of the First Tranche independently of the Company.

The arrangement with Goldman Sachs enables the purchase of ordinary shares for a period up to and including 1 March 2024. The aggregate maximum consideration for the purchase of ordinary shares under the First Tranche is £200 million (exclusive of associated fees, expenses and stamp duty), representing an amount equal to the aggregate value of approximately 2.4% of the Company's issued share capital at yesterday's closing share price. This amount forms the first part of the £450 million 2023-24 Programme announced by the Company on 27 July 2023.

Goldman Sachs may effect purchases of Shares under the First Tranche on the London Stock Exchange and/or other trading venues^[1] for subsequent purchase by the Company. Purchases by the Company will be treated as being made on the London Stock Exchange. The Company intends that any Shares purchased will be (i) cancelled; or (ii) held in treasury pending their cancellation.

The purpose of the 2023-2024 Programme is to reduce the capital of the Company.

Any share purchase will be carried out in accordance with certain pre-set parameters. The maximum number of ordinary shares which may be purchased by the Company under the First Tranche is 568,617,397, which is the maximum pursuant to the authority granted by shareholders at the Company's 2023 Annual General Meeting.

The First Tranche will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014/EU (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission Delegated Regulation 2016/1052/EU (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and in accordance with Chapter 12 of the UK Listing Rules. No repurchases will be made in respect of the Company's American Depositary Receipts.

The Company will make further announcements in due course following any buy back of shares. There is no guarantee that the First Tranche will be implemented in full or that any shares will be bought back by the Company.

Enquiries:

Investors and Analysts
T: 01753 494900
E: ir@centrica.com

Media
T: 01784 843000
E: media@centrica.com

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Centrica plc is listed on the London Stock Exchange (CNA)
Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654
Legal Entity Identifier number: E26EDV109X6EEPBKVH76
ISIN number: GB00B033F229