Issue of Debt

Stonewater Funding plc

29 November 2018

Stonewater Funding plc £250,000,000 3.375 per cent. Secured Bonds due 2045 (the "Bonds")

Sale of Retained Bonds

Stonewater Funding plc (the "Issuer") has appointed TradeRisks Limited to approach fixed income investors to discuss the possible sale of up to £75m of the Bonds which it currently holds as Retained Bonds as defined in the Prospectus of the Issuer dated 31 October 2017.

Any sale will be subject to market conditions.

The possible sale of Retained Bonds described above is inside information for the purposes of Regulation (EU) No 596/2014 of the European Parliament and of the Council.

ENDS

For further questions or enquiries on this announcement, please contact:

John Bruton

Executive Director Finance

E: John.Bruton@stonewater.org

T: 01189 099259