Refinancing of Bank and Bonding Facilities

Costain Group PLC ("Costain" or the "Group") announces that it has successfully concluded negotiations with its bank and surety facility providers to refinance a new four-year agreement of its bank and bonding facilities to September 2029, with an option to extend by a further year.

The Group's new facility agreements replace the previous three-year facility agreements to September 2026, as announced on 26 July 2023, and comprises an £100m revolving credit facility ("RCF") (previous RCF: £85m), and surety and bank bonding facilities totalling £295m (previous facilities: £270m).

The RCF was undrawn throughout 2024 and 2025 to date. Utilisation of the total bonding facilities as of 31 December 2024 was £65.3m.

The new RCF is backed by a group of five banks, with Lloyds Bank PLC acting as coordinator and agent bank, and with Crédit Industriel et Commercial London Branch, HSBC UK Bank PLC, National Westminster Bank PLC and Banco de Sabadell, S.A. (London Branch) as bookrunners and mandated lead arrangers, the latter being a new addition to the banking group. The bank bonding facilities are provided by three banks with six surety companies providing the surety bonding facilities.

Alex Vaughan, Chief Executive Officer, commented:

"I am pleased that we have successfully secured a new four-year RCF and that Banco de Sabadell has joined our banking group. The success of this refinancing demonstrates the strong confidence our lenders and bond providers have in our business model, strategic plans and balance sheet strength."

Costain will issue its results for the six months to 30 June 2025 on 20 August 2025.