Drax Group PLC, a leading energy company, has announced that its subsidiary, Drax Finco plc, has mandated certain banks to arrange fixed income investor calls on 16 and 17 April 2024. The company may proceed with an offering of €300,000,000 five-year Senior Secured Notes, subject to market conditions. The expected gross proceeds will be used for general corporate purposes, including the repayment of indebtedness and to pay estimated fees and expenses of the Offering.

The company has cautioned that there is no assurance that the Offering will proceed or be completed. The release is being issued for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. The Notes have not been and will not be registered under the Securities Act.

The communication is directed only at relevant persons, and any investment activity to which this communication relates will only be available to, and will only be engaged in with, relevant persons. The Offering is not intended to be offered, sold, or otherwise made available to any retail investor in the European Economic Area (EEA) or in the United Kingdom (UK).

In connection with any issuance of the Notes, a stabilizing manager may over-allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur. Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the offer of the Notes is made and must end no later than 30 days after the date on which the issuer received the proceeds of the issue, or no later than 60 days after the date of the allotment of the Notes, whichever is earlier.