Response to Ofgem statement regarding price consultation

CapitaAnnouncement

07/11/2025 07:20

07 November 2025

Response to Ofgem statement regarding price consultation

Capita plc (“Capita”)

Capita plc notes today’s announcement that Ofgem is consulting on a proposal
to disallow costs incurred by Smart Data Communications Company (Smart DCC) 1 
of £31.03m for the Regulatory Year 2024/2025. For the Regulatory Year
2023/2024 the draft disallowance was approximately £25m.

Ofgem’s draft determination forms part of the usual regulatory framework
governing the Smart DCC contract. While some level of disallowance has
historically been seen, Capita is disappointed with the scale and
retrospective nature of the proposed price disallowance outlined today.

Smart DCC will engage constructively with Ofgem during the consultation period
to seek a reduction to the level of disallowed costs, as in previous years,
ahead of the final price determination in February 2026. Capita will continue
to assess the potential financial impact on Capita and will update the market
as appropriate.

Smart DCC remains committed to operating Britain’s smart meter network
efficiently and to playing its part in addressing the energy affordability
challenges across Great Britain.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014, as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). Upon
publication via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

 1 Smart DCC is a wholly-owned subsidiary of the Group which is not
consolidated into the Group’s financial statements. For further details see
note 4.7 of the Group’s 2024 Annual Report and Accounts.

For more information, please contact:

Investor enquiries
Helen Parris, Director of Investor Relations
Tel: 07720 169 269
Email: IRteam@capita.co.uk

Stephanie Little, Head of Investor Relations
Tel: 07541 622 838
Email: IRteam@capita.co.uk

Media enquiries
Capita external communications
Tel: 0207 654 2399

Email: media@capita.co.uk  (mailto:media@capita.co.uk)

About Capita plc

Capita is a modern outsourcer, helping clients across the public and private
sectors run complex business processes more efficiently, creating better
consumer experiences. Operating across eight countries, Capita’s 34,000
colleagues support primarily UK and European clients with people-based
services underpinned by market-leading technology. We play an integral role in
society - our work matters to the lives of the millions of people who rely on
us every day.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014, as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). Upon
publication via a Regulatory Information Service, this inside information is
now considered to be in the public domain