National Grid : 8 June 2021 - New Articles of Association

Articles of Association

of

National Grid plc

as amended by special resolution on [26 July] 2021

(Incorporated on 11 July 2000)

Ref: L-309674

Table of contents
Article	Page
Introduction......................................................................................................................................	1
1	Default Articles and other standard regulations do not apply .........................................	1
2	The meaning of the Articles .................................................................................................	1
3	Shareholders' Liabilities.......................................................................................................	5
4	Fractions of shares ...............................................................................................................	5
5	The power to reduce capital.................................................................................................	6
6	Buying back shares ..............................................................................................................	6
7	The special rights of new shares ........................................................................................	6
8	The Directors' power to deal with shares ...........................................................................	7
9	Power to pay commission and brokerage ..........................................................................	7
10	No trusts or similar interests recognised ...........................................................................	7
11	Uncertificated shares............................................................................................................	8
12	Certificates.............................................................................................................................	8
13	Replacement share certificates ...........................................................................................	9
14	Changing the special rights of shares ..............................................................................	10
15	More about the special rights of shares ...........................................................................	10
16	Transfer forms .....................................................................................................................	11
17	Transferring shares in certificated form ...........................................................................	11
18	Refusing to register certain transfers...............................................................................	11
19	Overseas branch registers.................................................................................................	12
20	More provisions on uncertificated shares........................................................................	12
21	If a shareholder dies ...........................................................................................................	13
22	Registering personal representatives...............................................................................	13
23	A person who wants to be registered must give notice..................................................	13
24	Transfers by a person who is automatically entitled to a share by law ........................	13
25	The rights of people automatically entitled to shares by law.........................................	14
26	Shareholders who cannot be traced .................................................................................	14
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27	The Annual General Meeting..............................................................................................	15
28	Notice of General Meetings................................................................................................	15
29	Class meetings ....................................................................................................................	17
30	Moving a General Meeting at short notice........................................................................	17
31	Satellite meeting places .....................................................................................................	18
32	Combined physical and electronic General Meetings ....................................................	19
33	Attending and taking part in General Meetings ...............................................................	20
34	Speaking and voting at General Meetings........................................................................	20
35	The chair of a General Meeting..........................................................................................	20
36	Security and other arrangements at General Meetings ..................................................	21
37	Overflow meeting rooms ....................................................................................................	21
38	The quorum needed for General Meetings.......................................................................	21
39	The procedure if there is no quorum ................................................................................	22
40	Adjourning General Meetings ............................................................................................	22
41	Amending resolutions ........................................................................................................	23
42	Proxies, Corporate Representatives and Directors speaking at General Meetings.....	23
43	All votes decided on a poll.................................................................................................	23
44	How a poll is taken ..............................................................................................................	24
45	Timing of a poll....................................................................................................................	25
46	The effect of a declaration by the chair ............................................................................	25
47	The votes of shareholders .................................................................................................	25
48	Shareholders who owe us money .....................................................................................	26
49	Votes of shareholders who are of unsound mind............................................................	26
50	The votes of joint holders ..................................................................................................	26
51	Suspending shareholder rights on non-disclosure of interest ......................................	26
52	Completing proxy forms.....................................................................................................	28
53	Delivering completed proxy forms ....................................................................................	29
54	Cancelling a proxy's authority...........................................................................................	30
55	Representatives of companies ..........................................................................................	30
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56	Challenging votes ...............................................................................................................	30
57	The number of Directors ....................................................................................................	31
58	Qualification to be a Director .............................................................................................	31
59	Directors' fees......................................................................................................................	31
60	Special pay...........................................................................................................................	31
61	Directors' expenses ............................................................................................................	31
62	Directors' pensions and other benefits ............................................................................	32
63	Appointing Directors to various posts .............................................................................	32
64	Retiring Directors ................................................................................................................	33
65	Eligibility for re-election .....................................................................................................	33
66	Re-electing a Director who is retiring ...............................................................................	33
67	Electing two or more Directors..........................................................................................	33
68	People who can be Directors .............................................................................................	33
69	Filling vacancies and appointing extra Directors ............................................................	34
70	Removing and appointing Directors by an ordinary resolution.....................................	34
71	When Directors are disqualified ........................................................................................	34
72	Directors' meetings .............................................................................................................	35
73	How Directors' meetings are called ..................................................................................	35
74	Quorum ................................................................................................................................	35
75	The chair of Directors' meetings .......................................................................................	36
76	Voting at Directors' meetings.............................................................................................	36
77	Directors' meetings by video or web conference and phone.........................................	36
78	Resolutions in writing.........................................................................................................	36
79	The validity of Directors' actions.......................................................................................	37
80	Authorising Directors' interests ........................................................................................	37
81	Directors may have certain interests ................................................................................	38
82	Restrictions on quorum and voting ..................................................................................	39
83	Confidential information.....................................................................................................	41
84	Directors' interests - general..............................................................................................	41
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85	Minutes.................................................................................................................................	42
86	Delegating powers to committees.....................................................................................	42
87	Committee procedure .........................................................................................................	42
88	General powers of Directors ..............................................................................................	43
89	Provision for employees if we cease or transfer our business......................................	43
90	The power to appoint attorneys and agents ....................................................................	43
91	Local boards ........................................................................................................................	43
92	Using the title 'Director' .....................................................................................................	44
93	Signatures on cheques.......................................................................................................	44
94	Borrowing powers...............................................................................................................	44
95	Borrowing restrictions........................................................................................................	44
96	Alternate directors ..............................................................................................................	47
97	The Company Secretary .....................................................................................................	48
98	The Seal................................................................................................................................	48
99	Establishing that documents are genuine........................................................................	49
100	Setting up reserves .............................................................................................................	49
101	Final dividends ....................................................................................................................	50
102	Fixed and interim dividends...............................................................................................	50
103	Dividends not in cash .........................................................................................................	50
104	Deducting amounts owing from dividends and other money ........................................	50
105	Payments to shareholders .................................................................................................	51
106	Record dates for payments and other matters ................................................................	52
107	Dividends which are unclaimed.........................................................................................	52
108	Waiving dividends...............................................................................................................	53
109	Capitalising reserves ..........................................................................................................	53
110	Shareholders can be offered the right to receive scrip dividends (extra shares instead
	of cash dividends)...............................................................................................................	54
111	Accounting and other records...........................................................................................	55
112	The location and inspection of records ............................................................................	55

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