CONSORT HEALTHCARE (TAMESIDE) PLC

The outstanding 1.9810 per cent. Index-Linked Guaranteed Secured Bonds due 2041

unconditionally and irrevocably guaranteed as to scheduled payments of principal and interest (adjusted for indexation) pursuant to a bond financial guarantee issued by Ambac Assurance UK Limited ("Ambac")

ISIN XS0321115130

(the "Notes")

SETTLEMENTS WITH THE TAMESIDE & GLOSSOP INTEGRATED CARE NHS FOUNDATION TRUST AND EQUANS SERVICES LIMITED

London, 31 March 2025 - Consort Healthcare (Tameside) plc (the "Company"), a project company for the Private Finance Initiative (PFI) concession contract  to design, construct, finance, maintain and manage the lifecycle costs of hospital facilities in Tameside for the Tameside & Glossop Integrated Care NHS Foundation Trust (the "Trust") provides the following update regarding settlements reached between the Company and each of the Trust and Equans Services Limited.

In this announcement, words and expressions defined (expressly or by reference) or interpreted in the  trust deed constituting the Notes shall, unless otherwise defined herein, bear the same meaning herein.

As previously announced on 10 December 2024, the Company has been in discussions with Ambac (the Bond Financial Guarantor and Controlling Creditor) in relation to a package of short to medium term relaxations and/or waivers of the existing financial covenant requirements to support the deed of amendment and variation entered into with the  Trust and the separate deed of settlement and variation in relation to the FM Service Contract with Equans Services Limited.  The Company has now entered into a global deed of amendment to put these necessary relaxations in place with the first test dates being 30 September 2025.

This announcement is given by the Company. 

Enquiries:  consorttameside@vercitygroup.com

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.