Bazalgette Finance PLC COVID-19 Update (9028H)

TIDM38LO TIDMTTM

RNS Number : 9028H

Bazalgette Finance PLC

27 March 2020

Bazalgette Finance plc

COVID-19 Update

Bazalgette Finance plc is providing an update in respect of Bazalgette Tunnel Limited, trading as Tideway, the Company delivering the Thames Tideway Tunnel, London's new 'super sewer', which will prevent millions of tonnes of sewerage entering the River Thames.

Our number one priority is the health, safety and wellbeing of our workforce and the wider public. To ensure we can undertake our work safely and within Public Health England guidelines we have temporarily reduced activities across the Tideway project with only safety-critical and essential work continuing on Site at the present time. However, we continue to work with our contractors to progress design, consenting and method planning to ensure the efficiency of future works. Where possible we will bring forward work that can be done remotely. We will continue to keep the situation under review based on the latest official advice and in consultation with our regulators and the government.

Strict health and safety measures are in place to protect those who are continuing to work. We have also taken steps to support our supply-chain during this uncertain time.

Tideway has reached a point of financial resilience, where sufficient liquidity has been secured to more than cover the currently forecast construction costs. The Company benefits from a supportive regulatory framework and a government support package during construction.

For further information, please contact:

investor.relations@tideway.london

press@tideway.london

Hannah Shroot 07867 469 037

Bazalgette Finance plc

Cottons Centre

Cottons Lane

London

SE1 2QG

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March 27, 2020 08:14 ET (12:14 GMT)

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