Announcement of additional preferred equity distribution - 20 February 2025

Following the Joint Administrators' announcement dated 3 September 2024, the LBIE directors have proposed, in consultation with the Joint Administrators who are in agreement, that the Company make a distribution by way of dividend to LB Holdings Intermediate 2 Limited ("LBHI2"), as sole holder of LBIE's preferred equity, in the amount of £70m.

In putting forth their proposal, the LBIE directors have considered, again in consultation with the Administrators, the balance sheet and management information of the Company, to which it was necessary to have regard when determining whether a distribution could lawfully be made.

The Joint Administrators having consented to the proposal from the LBIE directors, the distribution was made on 20 February 2025 and brings the total distributed to date to LBHI2, in respect of its preferred equity, to £498m.

If any interested party requires more information, please contact LBIE’s Communications and Counterparty Management team at generalqueries@lbia-eu.com.