Pearson Regulatory News (PSON)

28 May 2020

Pearson plc ("Pearson") announces that its subsidiary, Pearson Funding plc, has today priced an issue of £350,000,000 3.75 per cent. Guaranteed Notes due 2030 (the "Notes"), guaranteed by Pearson. The Notes will be listed on the Global Exchange Market of Euronext Dublin. Settlement of the Notes is expected 4 June 2020.

Pearson intends to apply the net proceeds of the issue of the Notes, in part or in full, to finance or refinance projects and expenditures that meet the Eligible Categories set out in Pearson's newly established Social Bond Framework. The framework, which is in alignment with the ICMA Social Bond Principles and the second party opinion by Vigeo Eiris are published on the Pearson website.

Sally Johnson, Pearson's Chief Financial Officer, said: "Pearson's purpose is to help people make progress in their lives through learning. Through launching this bond, with a clear social element, we emphasise our commitment to ensuring learners around the world can gain access to high quality education, underpinning Pearson's support of the UN Sustainable Development Goals. This is an important milestone for Pearson as we further strengthen our long-term liquidity and continue to build a more sustainable business that is focused on digital, lifelong learning."

Barclays, BofA Securities and HSBC (Social Structuring Advisor) are joint lead managers.

Contacts

Disclaimers: The distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons who come into possession of this announcement or any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any jurisdiction.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any securities. Any securities referred to herein will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act"). Subject to certain exceptions, such securities may not be offered, sold or delivered within the United States or to, or for the account or benefit of U.S. persons.

This announcement is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in matters relating to investments or (iii) are persons falling within Article 49 (2)(a) to (d) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iv) any other persons to whom this announcement may lawfully be communicated pursuant to the Order (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

The manufacturer target market for the purpose of MIFID II product governance is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the Notes are not available to retail in EEA or UK.

FCA/ICMA stabilisation applies.