Investor Presentaiton

CMA revenues £m Long-term vision: keeping the future in focus 7,000 Redetermination results in an additional £208m of revenue in AMP7 Revenue £m 1,400 Revenue phasing over AMP (2017-18 prices) CMA FD 1,300 1,200 1,100 FY 2020/21 FY 2021/22 FY 2022/23 FY 2023/24 FY 2024/25 6,500 6,000 96 156 50 (96) 96 5,500 5,916 5,708 5,000 4,500 4,000 Investor Presentation 15 WACC Redermination totex CMA FD Revenues FD Opex/Capex adj. Fast money Growth true-up mechanism improved by £40m Embedded debt underfunding reduced from £110m to £65m PAYG includes £156m of misallocation of opex by Ofwat that CMA has addressed Fast money: CMA has reversed the £96m adjustment to PAYG that Ofwat had made to solve AICR ratios due to lower WACC. Improved cost sharing mechanism: Improved from around 35/65 at the Ofwat FD, to 45/55 at the CMA FD. love every drop anglianwater

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