Peter Emery to retire as CEO

ENW Finance plc

ENW Finance plc (the Company)

issued by the Company

4 April 2022

Peter Emery to retire as Chief Executive Officer of Electricity North West Limited (the Company).

04/04/2022

Electricity North West Limited Chief Executive Officer Announcement

COMPANIES WITH LISTED DEBT

ENW Finance plc Board of Directors said on 4 April 2022:

"The Board of directors of ENW Finance plc announces with regret that the Chief Executive Officer of Electricity North West Limited, and director of ENW Finance plc, Peter Emery has announced his intention to retire, and the Board has already started the search for a new Chief Executive Officer.

Pete has led the Company as Chief Executive Officer since 2016. His extensive background and industrial experience has enabled the Company to deliver on the commitments for its customers set out in its ED1 business plan and help it to continue to be one of the top performing electricity distribution network operators in Great Britain. During Pete's tenure, he has provided valuable leadership to the senior executive and wider leadership teams. The Company has made many notable strategic achievements which are reflected in its current performance. He leaves an exceptionally talented team in place and the business in an excellent position for its continued growth. Pete has significantly improved customer service and the operational performance of the business, whilst reducing the cost to serve.

The board thanks Pete for his outstanding leadership of the Company, and for his extraordinary contribution during a period of significant evolution in this industry. The Board also appreciates Pete's commitment to facilitate a smooth transition to new leadership fully equipped to lead the Company forward in the transition to net zero and to ensure continuity in our service to our valued customers.

Pete has made this decision for personal reasons and will remain with the Company until a replacement CEO is appointed. The search for the new CEO is underway with the aim to conclude that process by the end of 2022. Pete's passion and commitment to the Company will be sincerely missed.

Alistair Buchanan, Chairman of the Company, commented;

"Pete has contributed immensely to the success of the Company over the past six years. He has led the business into ED2 with a comprehensive business plan that will help the North West meet its target of achieving net zero. His leadership will be greatly missed.

Sion Jones, Chief Operating Officer, Equitix one of the Company's shareholders commented;

"On behalf of the Board, I wish to express my appreciation of Pete and his contribution to the Company."

Any queries should be directed to Electricity North West's press office by email at pressoffice@enwl.co.uk.

Phone: 0844 209 1957

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