SSE plc Notification of Closed Period

SSE PLC

NOTIFICATION OF CLOSED PERIOD

27 MARCH 2024

• ​2023/24 adjusted earnings per share expected to be in the range of 152 – 160 pence, consistent with previous guidance.
• On course to deliver investment of around £2.5bn this financial year, reflecting high-quality project pipeline and disciplined capital allocation.
• Reaffirming target of 175 – 200 pence adjusted earnings per share for 2026/27, as the Group continues to deliver the Net Zero Acceleration Programme Plus.

PRE-CLOSE TRADING UPDATE

SSE today updates the market that it expects full-year 2023/24 adjusted earnings per share to be between 152 – 160 pence. This narrower range is consistent with previous guidance of more than 150 pence, and reflects renewables output 13% below plan for the year to 21 March 2024 as well as SSE Thermal delivering adjusted operating profit of more than £750m.

The Group remains on track to report full-year 2023/24 capital expenditure of around £2.5bn, as it continues to progress its high-quality project pipeline. This is underpinned by a strong balance sheet, with adjusted net debt and hybrid capital expected to be around £9.5bn at 31 March 2024.

In the longer term, the Group continues to focus on the delivery of the investment, operational and financial growth targets as set out in the Net Zero Acceleration Programme Plus. This includes reaffirming the target of 175 – 200 pence adjusted earnings per share for 2026/27.

The full-year Results presentation and Q&A session will be conducted virtually on 22 May 2024.