Scrip Reference Price

SSE PLC

SCRIP DIVIDEND SCHEME

The Board of SSE plc ('the Company') confirms that the Scrip reference price for the fully paid ordinary shares to be issued to shareholders electing to receive the Scrip dividend alternative for the final dividend for the year ending 31 March 2020, payable on 18 September 2020, will be 1,329 pence per share.

The Scrip reference price has been calculated by taking the average mid-market closing price of the Company's shares over the five business days commencing on the ex-dividend date. In respect of the final dividend for the year ending 31 March 2020, this was the period 23 to 29 July 2020.

If all of the Company's eligible shareholders as at the record date of 24 July 2020 were to elect to participate in the Scrip Dividend Scheme in respect of their entire shareholdings as at such date, based on the Scrip reference price of 1,329 pence per share, the maximum number of shares required to be issued by the Company, for Scrip dividend purposes, would be 43,808,908 representing approximately 4.2% of the Company's issued share capital (excluding treasury shares) on the record date.

The exact number of shares which will require to be issued will be established after 21 August 2020 the final date for receipt of elections to participate in the Scrip Dividend Scheme.  

Shareholders wishing to participate in the Scrip Dividend Scheme should contact Link Asset Services and return their mandate forms to arrive no later than 21 August 2020.  Shareholders wishing to withdraw from the Scrip Dividend Scheme should ensure their requests to withdraw are lodged with Link Asset Services to arrive no later than 21 August 2020.

Shareholders who hold their shares in uncertificated form should consult their Crest sponsors as appropriate.

Scrip dividend timetable for the final dividend for the year ending 31 March 2020

Ex-dividend date                                               23 July 2020

Record date                                                      24 July 2020

Scrip reference price calculation period           23 - 29 July 2020

Last date for receipt of Scrip elections             21 August 2020

Dividend payment/Scrip issue date                  18 September 2020