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Cautionary Statement & Notes

Cautionary Statement

Certain statements made in this presentation are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by these forward-looking statements. They appear in a number of places throughout this presentation and include statements regarding the intentions, beliefs or current expectations of Directors concerning, amongst other things, the results of the operations, financial condition, liquidity, prospects, growth, strategies and the businesses operated by the Group. The Directors do not undertake any obligation to update or revise any forward-looking statements whether as a result of new information future developments or otherwise.

Notes

All references to 'Adjusted' mean before exceptional items and amortisation of intangible assets arising on acquisitions (see Appendix 1).

Please refer to Notes and Definitions in Appendix 1 and the bridge of statutory operating profit to adjusted operating profit in Appendix 2. As amounts are reflected in £'m some non-material rounding differences may arise.

Plumbase and the Belgium Distribution business were disposed of in 2019 and were classified as discontinued operations in accordance with IFRS. The operating result for 2019 is reflected in the loss after tax from discontinued operations in the Group Condensed Income Statement.

Gavin Slark

Chief Executive Officer

David Arnold

Chief Financial Officer

Final Results Financial Year Ended 31 December 2020