AGM Trading Update

Biffa plc

AGM Trading Update

23 September 2022

In advance of its Annual General Meeting, which takes place at 11.00am BST today, Biffa plc ('Biffa' or 'the Group') (LSE: BIFF) confirms that the Group continues to trade in line with the Board's expectations for the Financial Year to 31 March 2023 (FY23).

Enquiries:

Investors

Michael Topham, Chief Executive Officer

Richard Pike, Chief Financial Officer

Paul Tillstone, Head of M&A and Investor Relations

[email protected]

Media & Analysts

Houston

T: +44 (0) 203 701 7660

[email protected]

Cautionary statement regarding forward-looking statements

This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the Company's business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.

The forward-looking statements contained in this document speak only as of the date of this announcement, and Biffa does not undertake to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. 

Rule 26.1 disclosure

In accordance with Rule 26.1 of The City Code On Takeovers And Mergers, a copy of this announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) at www.biffa.co.uk/investors/possible-offer by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

About Biffa

We've been at the forefront of the UK sustainable waste management industry for over 100 years.

Our strategy for growth means that our waste reduction, recycling, energy recovery and collection services all have a positive impact across the UK. We have a strong track record of growing our profits and returns to shareholders, whilst reinvesting to grow our business.

Today, Biffa is an established enabler of the UK circular economy and our team of more than 10,000 colleagues carry out essential services every day in line with our purpose 'to change the way people think about waste'. Sustainability has been at the heart of our business strategy for many years. Our areas of investment essentially reflect the waste hierarchy - to Reduce, Recycle and Recover, all supported by the need to Collect.

We have already taken huge strides in our sustainability journey by investing in surplus redistribution, plastic recycling, energy recovery infrastructure and low carbon collections, leading to a 70% reduction in our carbon emissions since 2002. Our sustainability strategy, 'Resourceful, Responsible', will see us unlock £1.25bn of investment in vital green economy infrastructure by 2030, of which c.£1bn has already been committed to, while further reducing our carbon emissions by 50% by 2030. Our aim is to reach net zero emissions by no later than 2050.

Our people care about doing the right thing and, in turn, we strive to do right by them by prioritising their health, safety and wellbeing. We are proud to have been awarded a 5-star rating by the British Safety Council. We have also made strong progress in making sure Biffa is an inclusive place to work where diversity is championed and our employees feel valued and understand the positive contribution they make to enabling the UK circular economy.

Our longstanding Biffa Award programme supports sustainable projects across the UK which deliver environmental benefits, while making a valuable contribution to local communities. Through our proud partnership with WasteAid, we are helping to share practical and low-cost waste management knowledge with communities in developing countries.

That's just a bit about us. To find out more, visit: www.biffa.co.uk/investors