39TQ Ctrl 1 5.234%

TIDM39TQ

RNS Number : 5107K

CTRL Section 1 Finance PLC

04 January 2021

THIS NOTICE CONTAINS IMPORTANT INFORMATION OF INTEREST TO THE BENEFICIAL OWNERS OF THE NOTES. IF APPLICABLE, ALL DEPOSITARIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO PASS THIS NOTICE TO SUCH BENEFICIAL OWNERS IN A TIMELY MANNER.

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN ANY DOUBT ABOUT THE ACTION YOU SHOULD TAKE, YOU SHOULD IMMEDIATELY CONSULT YOUR STOCKBROKER, BANK MANAGER, SOLICITOR, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 (IF YOU ARE IN THE UNITED KINGDOM) OR ANOTHER APPROPRIATELY AUTHORISED INDEPENDENT FINANCIAL ADVISER (IF YOU ARE NOT).

IF YOU HAVE RECENTLY SOLD OR OTHERWISE TRANSFERRED YOUR ENTIRE HOLDING(S) OF NOTES REFERRED TO BELOW, YOU SHOULD IMMEDIATELY FORWARD THIS DOCUMENT TO THE PURCHASER OR TRANSFEREE OR TO THE STOCKBROKER, BANK OR OTHER AGENT THROUGH WHOM THE SALE OR TRANSFER WAS EFFECTED FOR TRANSMISSION TO THE PURCHASER OR TRANSFEREE.

NOTICE

to the holders of the outstanding

GBP747,989,000 Class A1 5.234% Fixed Rate Notes due 2035 (ISIN: XS0179947196)

GBP500,000,000 Class A2 2.334% Index-Linked Notes due 2051 (ISIN: XS0179947352)

(together, the "Notes")

issued by CTRL SECTION 1 FINANCE PLC

(incorporated with limited liability in England and Wales with registered number 04868980)

(the "Issuer")

on 7 November 2003

Unless the context otherwise requires, capitalised terms used but not defined in this Notice shall have the meanings given in the offering circular dated 7 November 2003 in relation to the Notes.

NOTICE IS HEREBY GIVEN to the Noteholders that following a resignation by Wells Fargo Bank, National Association (the "Resigning Administrator") and Wells Fargo Bank, N.A., London Branch (the "Resigning Account Bank") in respect of their roles as Administrator and Account Bank respectively, the appointment of the Resigning Administrator and the Resigning Account Bank in their respective roles have been terminated on 4 January 2021 (the "Effective Date"). As of the Effective Date, HSBC Bank PLC ("HSBC") has been appointed as successor Account Bank and successor Administrator pursuant to a deed of resignation and appointment between, among others, the Issuer and the Security Trustee and dated the Effective Date (the "Deed of Resignation and Appointment").

In order to affect the aforementioned appointments, on the Effective Date, HSBC has entered into:

(a) a replacement Administration and Cash Flow Management Agreement with the Issuer, the Security Trustee and the Secretary of State pursuant to which it agrees to perform, discharge and observe all obligations, duties and liabilities as the Administrator for the purposes of the Transaction Documents; and

(b) a replacement Account Bank Agreement with the Issuer and the Security Trustee pursuant to which it agrees to perform, discharge and observe all obligations, duties and liabilities as the Account Bank for the purposes of the Transaction Documents.

Pursuant the Deed of Resignation and Appointment, HSBC has agreed to assume the obligations of the Resigning Administrator and Resigning Account Bank in respect of certain Transaction Documents as if it were the Account Bank and Administrator.

This Notice is given by:

CTRL SECTION 1 FINANCE PLC

as Issuer

Date: 4 January 2021

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END

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January 04, 2021 12:20 ET (17:20 GMT)

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