National Grid plc and its subsidiary, Niagara Mohawk Power Company (NMPC), have announced their intention to voluntarily delist their 3.60% Preferred Stock and 3.90% Preferred Stock from the New York Stock Exchange (NYSE). The delisting will be done by filing Form 25 with the U.S. Securities and Exchange Commission (SEC). The decision to delist was made after considering the benefits and drawbacks of continued listing, taking into account current market conditions and the financial and administrative burdens of maintaining the listing. The delisting will not impact the terms or conditions of the Preferred Stock or the guarantee by National Grid. The last day of trading on the NYSE is expected to be December 31, 2023. Following the delisting, NMPC and National Grid plan to file a Form 15 with the SEC to deregister the Preferred Stock. National Grid does not intend to list or register the Preferred Stock on another exchange. The deregistration is expected to become fully effective 90 days after the filing of Form 15. After the filing of Form 15, NMPC and National Grid will no longer be obligated to provide certain supplemental disclosure as part of the Notes to Accounts in National Grid's consolidated financial statements.