Grainger : AGM further information – Questions received prior to AGM

Grainger plc (the "Company")

AGM - FURTHER INFORMATION

As noted in the announcement made by the Company on 11 January 2022, all shareholders were invited to send any questions that they have in connection with the matters arising at the AGM in advance of the Meeting on 9 February 2022.

In line with the announcement, the questions received and the Company's responses prior to the AGM together with a short presentation in advance of the AGM are published below. Any other questions received (if any) at the AGM will be published on the website as soon as practicable following the AGM.

QUESTION

Can you please advise the degree of exposure Grainger has in terms of remediation of cladding issues both in absolute terms in pounds, and in terms of a rectification timetable. Has the business insured against liabilities should the worst happen to one of its buildings? If/how Mr. Gove's recent comments/proposals have provoked any modification in the thought process regarding the above query.

ANSWER

Further to your cladding query, I can confirm that we have no material remediation costs relating to cladding.

Grainger's business model is to develop and operate build-to-rent properties, let on assured shorthold tenancy agreements. Our business model means that our commercial interests align to those of our tenants, with regard to providing a safe and enjoyable living experience. In addition, most of build-to-rent properties have been developed post-Grenfell and meet the highest standards of fire safety. Our in-house Live.Safe programme has been recognised by Dame Judith Hackitt as Chair of the Industry Safety Steering Group, which was set up in response to Grenfell, as an exemplar approach to health and safety. It is also worth noting that the Government recently confirmed that build-to-rent development activity would not be subject to the Residential Property Developers Tax, one way the Government is seeking to finance its cladding remediation funds. We continue to advocate the same approach to excluding build-to-rent from the forthcoming Building Safety Levy and proposed Orphan Fund.

For and on behalf of Grainger plc

Adam McGhin

Group General Counsel and Company Secretary