Travis Perkins Regulatory News (TPK)

10 March 2025

Travis Perkins plc

DIRECTORATE CHANGE

The Board of Travis Perkins plc (“Travis Perkins” or the “Company”) today announces that regrettably, as a result of ill health, Pete Redfern will be stepping down as Chief Executive Officer (“CEO”) and from the Board with immediate effect. Consistent with the values of the Company, the Board supports Pete’s understandable decision to prioritise his health and wishes him a speedy and full recovery.

Geoff Drabble, Chair, will work with the management team to ensure the stability of the business and that it remains focused on progressing the actions that are already underway to improve performance, enhance profitability and create sustainable value for shareholders. The Nominations Committee will immediately commence a search for a successor CEO.

Geoff Drabble said: “The Board and I are very sorry that Pete’s brief but promising tenure as CEO has been brought to a premature conclusion for reasons beyond his and our control, and which none of us had anticipated. On a personal level, and on behalf of the Board, I would like to thank Pete for his valuable contribution kickstarting the Group’s efforts to refocus on the customer experience and reenergise our field operations. He leaves with our best wishes for the future. The Group has many inherent strengths, benefiting from nationwide coverage with market leading businesses and strong customer and supplier relationships. We have a great business which has had its issues in recent times, but which I am confident can build on its inherent strengths and deliver value for investors and all of its other stakeholders.”

Travis Perkins will report its full year results on 18th March 2025.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/204 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 and has been authorised for release by Robin Miller General Counsel and Company Secretary.

Enquiries:

Remuneration Disclosure (pursuant to S430(2B) Companies Act 2006):

Consistent with the Company's Directors’ Remuneration Policy approved by shareholders in 2024 (the “Policy”), all payments to Pete Redfern cease on cessation of employment, without any pay in lieu of notice. Provision or accrual of benefits cease immediately on cessation of employment. Pete Redfern’s unvested award granted on 16 September 2024 under the Company’s Restricted Share Plan does not lapse because his employment has ceased due to ill-health but subsists in accordance with the rules of the Plan. Vesting of the award at the end of the three year vesting period is subject to satisfaction of the applicable performance underpin. The number of shares that vest will usually be reduced pro-rata to reflect the proportion of the individual’s employment during the vesting period from the grant date to the date of cessation of employment. A two year holding period for any shares received on exercise of the award following vesting applies. The Remuneration Committee may determine that Pete Redfern be awarded a bonus for the 2024 performance year. As permitted under the Policy the Remuneration Committee has determined, in the circumstances, not to apply the post-employment shareholding guideline for Executive Directors in relation to the shares in the Company which Pete Redfern purchased on 11 November 2024.

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