Drax Group PLC, a leading power generation company, has announced the redemption of its $500,000,000 Senior Secured Fixed Rate Notes due 2025. The redemption date is set for 2 May 2024, and the redemption price will be 100.000% of the principal amount of the Fixed Rate Notes, along with any additional amounts and accrued and unpaid interest from 1 May 2024 to the Redemption Date. Holders of the Fixed Rate Notes must surrender them to the Paying Agent to collect the Redemption Price, which will be paid on or after the Redemption Date.

Upon the Redemption Date, the Redemption Price will become due and payable for each Fixed Rate Note, and unless the Company defaults in making the redemption payment, interest on the Fixed Rate Notes will cease to accrue. The redemption is being effected pursuant to paragraph 5 (Optional Redemption) of the Fixed Rate Notes and in accordance with Article Three of the Indenture.

In case the Fixed Rate Notes have been lost or destroyed, holders are instructed to notify The Bank of New York Mellon, as Paying Agent, promptly. The Paying Agent will withhold under the U.S. backup withholding rules the statutorily prescribed rate of any payment made upon redemption of a Fixed Rate Note unless the Holder delivers a properly completed IRS Form W-9 or an applicable IRS Form W-8, or the Holder establishes an exemption from such backup withholding.

This announcement is 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. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act.