Credit Investor Presentation

Ofwat's legal duties 1 Primary Ensure companies properly carry out their functions Ensure companies can finance their functions Protect interests of consumers, wherever appropriate by promoting effective competition Secure the long-term resilience of water and sewerage systems¹ 2 Secondary Promoting economy and efficiency Contributing to the achievement of sustainable development Ensure Ofwat gives no undue preference¹ 1 Added as part of the Water Act 2014 United Utilities • Credit Investor presentation . 23

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