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RNS Number : 9898Y

Transport For London

18 May 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

Transport for London ("TfL")

18 May 2021

Extension of Government Support Package

TfL announces that the current extraordinary funding and financing agreement between TfL and the Department for Transport ("DfT") has been extended to 28 May 2021.

On 1 November 2020, TfL announced that an extraordinary funding and financing support package (the "H2 Funding Package") had been agreed between TfL and the Department for Transport ("DfT") to contribute towards TfL's forecast funding shortfall, arising from the loss of passenger revenue as a result of the coronavirus pandemic. The H2 Funding Package initially provided support for the period from 18 October 2020 to 31 March 2021. On 22 March 2021, TfL announced that the terms of the H2 Funding Package have been amended to define the funding period as 18 October 2020 to 18 May 2021.

While TfL continues discussions with the government with regards to further financial support, the terms of the H2 Funding Package have been amended to define the funding period as 18 October 2020 to 28 May 2021. All other provisions of the H2 Funding Package will remain in place.

TfL will receive an additional instalment of extraordinary grant support of GBP65m and a further Top Up Grant payment pursuant to the terms of the H2 Funding Package.

The terms of the original H2 Funding Package can be found at:

https://content.tfl.gov.uk/transport-for-london-settlement-letter.pdf

For further information, please contact:

Transport for London

5 Endeavour Square

London

E20 1JN

Email: GroupTreasury@tfl.gov.uk

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May 18, 2021 04:40 ET (08:40 GMT)

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