Final Issue and Tender Offer Results

24 September 2021

Bupa Finance plc Announces Successful Issue of £300,000,000 4.000 per cent. Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes and settlement of Tender Offer for its £500,000,000 5.00 per cent. Fixed Rate Subordinated Notes due 2023

Bupa Finance plc ("Bupa") today announces that it has successfully issued £300,000,000 4.000 per cent. Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes (the "Notes"). The Notes are subject to the terms and conditions set out in the offering circular dated 24 September 2021 relating to the Notes.

Application has been made to the London Stock Exchange plc for the Notes to be admitted to trading on the International Securities Market. 

As announced on 22 September 2021, Bupa accepted for purchase £250,000,000 in aggregate nominal amount of its £500,000,000 5.00 per cent. Fixed Rate Subordinated Notes due 2023 (the "Tender Notes") offered pursuant to its invitation to holders of the Tender Notes (the "Tender Offer"). The Tender Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 14 September 2021 (the "Tender Offer Memorandum") and, as more fully described in the Tender Offer Memorandum, had a target acceptance amount of up to £250,000,000 in aggregate of the nominal amount of the Tender Notes. The Settlement Date (as defined in the Tender Offer Memorandum) has now occurred and £250,000,000 in aggregate nominal amount of the Tender Notes remain outstanding.

Bupa's Interim Group Chief Financial Officer, Martin Potkins said:

"The combination of the new RT1 bond issue and Tier 2 bond tender offer enable us to enhance Bupa's capital base and demonstrate the continued financial flexibility of the Group. We are very pleased with the demonstration of support from our fixed income investor base as we focus on embedding our new strategy and building towards our ambition of being the world's most customer-centric healthcare company."

Notes to editor

Enquiries

Investors

Gareth Evans (Treasury): [email protected]

Media

Rupert Gowrley (Corporate Affairs): [email protected]

About Bupa

Bupa's purpose is helping people live longer, healthier, happier lives and making a better world.

We are an international healthcare company serving over 31 million customers worldwide. With no shareholders, we reinvest profits into providing more and better healthcare for the benefit of current and future customers.

We directly employ around 85,000 people, principally in the UK, Australia, Spain, Chile, Poland, New Zealand, Hong Kong SAR, Turkey, Brazil, Mexico, the US, Middle East and Ireland. We also have associate businesses in Saudi Arabia and India.

For more information, visit www.bupa.com.