Water for the North West

Pensions United Utilities' pensions are fully funded on a low dependency basis 5000 4500 4000 £79m 3500 3000 2500 2000 1500 1000 500 0 IFRS pension surplus £344m £215m surplus ₤248m surplus £220m £275m surplus surplus surplus £126m surplus surplus £699m surplus £654m surplus £484m £326m surplus surplus £754m surplus £821m £689m surplus surplus £1,017m surplus £824m surplus £601m surplus Mar-15 Sep-15 Mar-16 Sep-16 Mar-17 Sep-17 Mar-18 Sep-18 Mar-19 Sep-19 Mar-20 Sep-20 Mar-21 Sep-21 Mar-22 Sep-22 Mar-23 Assets Liabilities IAS19 surplus, no funding deficit No deficit on a low dependency basis Low risk assets, hedged for inflation and interest rate risk Future contributions are ongoing service costs only Investor presentation 39

View entire presentation