Covid-19 Related Remuneration Matters

Biffa plc

COVID-19 RELATED REMUNERATION MATTERS

6 April 2020

Biffa plc ('Biffa' or 'the Group'), the UK's leading sustainable waste management company, today announces that, further to the measures announced on 25 March 2020, the following remuneration related measures have been implemented to mitigate the impact of the COVID-19 ('coronavirus') outbreak on its business:

· The Group has commenced the process of furloughing staff under the Government's Coronavirus Job Retention Scheme ('CJRS') and this process will roll out over the coming weeks;

· The Board of Directors and the Group Executive Team members have volunteered to take a 20% reduction in salary with effect from 1 April 2020. This will last for the duration of the period during which the Group is participating in the CJRS;

· Biffa's Leadership group, representing a further 85 people, will also take a 10% reduction in salary for the same period;

· All pay increases have been suspended until further notice;

· Bonus entitlements earned in respect of the year to 27 March 2020, which under normal circumstances would be paid in cash in July 2020, will be calculated in the normal manner but are likely to be satisfied in shares through the Group's employee share plans, subject to final Remuneration Committee approval; and

· The Group's annual bonus scheme in respect of FY21 is suspended and will be reintroduced at the discretion of the Remuneration Committee when appropriate.

The Board believes these measures are appropriate and proportionate given the current challenges the business is facing, and that, when combined with the other mitigating actions detailed in the 25 March 2020 announcement, will enable the Group to shoulder this downturn in the near term and position it to progress its growth strategy over the medium term.The Board would like to take this opportunity to thank Biffa's workforce for their ongoing dedication and commitment to ensuring the continuation of the essential services that the Group provides to its customers.

Enquiries:

Michael Topham, Chief Executive Officer

Richard Pike, Chief Financial Officer

[email protected]

Houston

Kate Hoare and Anushka Mathew

[email protected]0203 701 7660

This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with Biffa's business. Whilst Biffa 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 Biffa's control or within Biffa's control where, for example, Biffa decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.

About Biffa

Biffa is the UK's leading sustainable waste management business. We have over 8,000 employees working across more than 200 sites to change the way people think about waste. We operate across the waste management value chain, including the collection, treatment, processing and disposal of waste, as well as the production and sale of recovered commodities such as energy, paper, glass, metals and plastic.

We are first choice for customers, with our national customer base including local authorities, large corporates and SMEs, and purchasers of end-product commodities and energy. We are structured into two divisions: Collections and Resources & Energy. In FY19, the Group's total revenue was £1,091.2m and its Underlying EBITDA was £150.7m. Biffa has been listed on the London Stock Exchange since October 2016 under the ticker "BIFF". In March 2020 Biffa entered the FTSE-250.

For more information visit www.biffa.co.uk