Issue of Debt

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21 March 2019

Heathrow builds on continued strong investor demand with a Swiss franc 210 million 7.5 year bond

Heathrow has successfully placed a Swiss franc 210 million Class A bond which matures in October 2026 with a fixed coupon of 0.45%. The bond is our third Swiss franc issuance and the funds will be used for general corporate purposes. The issuance forms part of our continued strategy to build strong liquid positions in each active market as we continue to progress our plans to expand Heathrow. The bond priced at the lower end of initial price guidance at 58 basis points over the mid-swap rate.

Sally Ding, Director of Treasury and Corporate Finance said:

"We are delighted with the strong support we received from Swiss investors today who demand a responsible and proactive approach to ESG factors. This is testimony to the strength and resilience of Heathrow when gearing up for growth, with investors valuing our leading role towards a more sustainable aviation industry."

For investor enquiries please contact James Hoskins on +44 7525 597 567

This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States or in any jurisdiction in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act") except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act. There will be no public offer of the securities in the United States.