Recapitalisation Update on L&VW’s Proposal

Thames Water Utilities Finance plc

16 March 2026

Recapitalisation Update - Press Speculation on London & Valley Water's Proposal

Thames Water Utilities Limited ("TWUL") today made an announcement in respect of recent press speculation relating to the terms of London & Valley Water consortium's proposal for the turnaround, transformation and recapitalisation of Thames Water. This announcement can be found here:

Recapitalisation Update on L&VW's Proposal - 07:00:11 16 Mar 2026 - AW14 News article | London Stock Exchange

For further information

Investor enquiries

Fred Maroudas - Director of Corporate Finance debt.investorrelations@thameswater.co.uk

Media enquiries

Alex Simmons 07970 174353 thameswater@edelmansmithfield.com

Information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as amended and as it forms part of United Kingdom domestic law ("UK MAR") until the release of this announcement. For the purpose of UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of United Kingdom domestic law, this announcement is made by Chris Weston (Director) at Thames Water Utilities Finance plc.

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