Holding(s) in Company

Released : 07 Jun 2023 15:18

RNS Number : 9963BNational Grid PLC07 June 2023

7 June 2023

National Grid plc ('National Grid' or 'Company')

Notification of Major Interest in National Grid Ordinary Shares

National Grid has received a notification on Form TR-1 from Bank of America Corporation that its total interest in National Grid voting ordinary shares is as shown below.

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00BDR05C01

Issuer Name

NATIONAL GRID PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Bank of America Corporation

City of registered office (if applicable)

Country of registered office (if applicable)

US

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached

02-Jun-2023

6. Date on which Issuer notified

06-Jun-2023

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8.A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

2.353862

3.536233

5.890095

216654059

Position of previous notification (if applicable)

2.550385

3.534363

6.084748

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)

Number of direct voting rights (DTR5.1)

Number of indirect voting rights (DTR5.2.1)

% of direct voting rights (DTR5.1)

% of indirect voting rights (DTR5.2.1)

GB00BDR05C01

67755626

1.842048

US6362744095

18825947

0.511814

Sub Total 8.A

86581573

2.353862%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument

Expiration date

Exercise/conversion period

Number of voting rights that may be acquired if the instrument is exercised/converted

% of voting rights

Right to Recall

N/A

N/A

411118

0.011177

Physical Call Options

15/12/2023

N/A

650000

0.017671

Physical Call Options

21/07/2023

N/A

743000

0.020200

Physical Swap

15/06/2023

N/A

3068740

0.083429

Sub Total 8.B1

4872858

0.132477%

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument

Expiration date

Exercise/conversion period

Physical or cash settlement

Number of voting rights

% of voting rights

Swaps

29/09/2023

N/A

Cash

24992

0.000679

Swaps

01/03/2024

N/A

Cash

2866777

0.077938

Swaps

03/06/2024

N/A

Cash

3953630

0.107486

Swaps

31/07/2024

N/A

Cash

1576449

0.042858

Swaps

02/05/2025

N/A

Cash

526

0.000014

Swaps

06/05/2025

N/A

Cash

99108

0.002694

Swaps

26/05/2026

N/A

Cash

646598

0.017579

Swaps

15/02/2028

N/A

Cash

9598

0.000261

Swaps

13/06/2023

N/A

Cash

135108

0.003673

Swaps

10/07/2023

N/A

Cash

14474

0.000393

Swaps

17/07/2023

N/A

Cash

33193

0.000902

Swaps

15/02/2024

N/A

Cash

16696

0.000454

Swaps

01/03/2024

N/A

Cash

2866777

0.077938

Swaps

17/04/2024

N/A

Cash

250000

0.006797

Swaps

31/05/2024

N/A

Cash

62962253

1.711732

Swaps

03/06/2024

N/A

Cash

3953630

0.107486

Swaps

24/06/2024

N/A

Cash

17684

0.000481

Swaps

25/06/2024

N/A

Cash

1675

0.000046

Swaps

26/06/2024

N/A

Cash

1835

0.000050

Swaps

02/07/2024

N/A

Cash

47121

0.001281

Swaps

31/07/2024

N/A

Cash

1748729

0.047542

Swaps

08/08/2024

N/A

Cash

143171

0.003892

Swaps

30/08/2024

N/A

Cash

114574

0.003115

Swaps

18/11/2024

N/A

Cash

1204826

0.032755

Swaps

22/11/2024

N/A

Cash

11258988

0.306094

Swaps

25/11/2024

N/A

Cash

24000000

0.652479

Swaps

29/11/2024

N/A

Cash

2997067

0.081480

Swaps

02/12/2024

N/A

Cash

119079

0.003237

Swaps

12/12/2024

N/A

Cash

14080

0.000383

Swaps

24/01/2025

N/A

Cash

2517

0.000068

Swaps

25/02/2025

N/A

Cash

754189

0.020504

Swaps

02/05/2025

N/A

Cash

526

0.000014

Swaps

06/05/2025

N/A

Cash

99108

0.002694

Swaps

07/11/2025

N/A

Cash

256440

0.006972

Swaps

06/03/2026

N/A

Cash

62992

0.001713

Swaps

16/03/2026

N/A

Cash

1622469

0.044109

Swaps

18/03/2026

N/A

Cash

56823

0.001545

Swaps

26/05/2026

N/A

Cash

646598

0.017579

Swaps

15/09/2027

N/A

Cash

5247

0.000143

Swaps

15/12/2027

N/A

Cash

470

0.000013

Swaps

15/02/2028

N/A

Cash

205663

0.005591

Physical Put Option

16/06/2023

N/A

Physical

385000

0.010467

Cash Equity Option

21/07/2023

N/A

Cash

13262

0.000361

Cash Equity Option

16/06/2023

N/A

Cash

690

0.000019

Cash Equity Option

18/08/2023

N/A

Cash

8996

0.000245

Sub Total 8.B2

125199628

3.403756%

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

Ultimate controlling person

Name of controlled undertaking

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Bank of America Corporation

Bank of America, NA

Bank of America Corporation

BofA Securities, Inc.

Bank of America Corporation

BofA Securities Europe, SA

Bank of America Corporation

Managed Account Advisors, LLC

Bank of America Corporation

Merrill Lynch International

3.215681

5.033011%

Bank of America Corporation

Merrill Lynch, Pierce, Fenner & Smith Inc.

Bank of America Corporation

U.S. Trust Co of Delaware

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion

06-Jun-2023

13. Place Of Completion

United Kingdom

This notice is in compliance with National Grid's obligations under the Disclosure and Transparency Rules.

Pritti Patel 

General Counsel, Corporate and Deputy Company Secretary

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