Moody’s affirms Bupa Insurance Limited’s Rating

Moody's affirms Bupa Insurance Limited's Insurance Financial Strength Rating at 'A1' - outlook changes from stable to negative

Credit rating agency Moody's Investor Services (Moody's) has affirmed the A1 Insurance Financial Strength Rating (IFSR) of Bupa Insurance Limited, a UK operating subsidiary of The British United Provident Association Limited group (Bupa/the Bupa Group).

Moody's has also affirmed the senior and subordinated debt ratings of Bupa Finance plc, the main financing company, and an intermediate holding company, in the Bupa Group.

The outlook has been changed to negative from stable for both Bupa Insurance Limited and Bupa Finance plc.

A full list of ratings impacted is available at the end of this press release.

See the full announcement from Moody's here.

List of affected ratings:

Enquiries

Media

Rupert Gowrley (Corporate Affairs): [email protected]

Investors

Gareth Evans (Treasury): [email protected]

About Bupa

Bupa's purpose is helping people live longer, healthier, happier lives. With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers.

Health insurance accounts for the major part of our business with 17.5m customers and contributes 73% of revenue. We operate clinics, dental centres and hospitals in some markets, with 15.8m customers. We care for around 22,000 residents in our aged care businesses in the UK, Australia, New Zealand and Spain.

We directly employ around 83,000 people, principally in the UK, Australia, Spain, Chile, Poland, New Zealand, Hong Kong, Turkey, Brazil, the US, Middle East and Ireland. We also have associate businesses in Saudi Arabia and India.

For more information, visit www.bupa.com.

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