Trading Statement

HOMESERVE PLC

TRADING UPDATE

LONDON - 22 July 2022 - HomeServe, the international home repairs and improvements business, publishes the following trading update for the period 1 April to 21 July 2022, to coincide with its Annual General Meeting and the Court and General Meetings linked to the recommended cash offer for HomeServe by Hestia Bidco Limited ("Bidco"), an indirect subsidiary of funds advised or managed by affiliates of Brookfield Infrastructure Partners L.P. ("Brookfield").

Trading has been in line with HomeServe's expectations.

During this seasonally quieter period, HomeServe's Membership businesses in North America and EMEA continued to make good progress, with policy retention rates remaining strong and customer service levels remaining high. HomeServe continues to execute its HVAC buy and build strategy across all of its established territories, with the first quarter seeing acquisitions in North America, the UK, France and Spain.

In Home Experts, despite a moderation in consumer demand in the UK, the number of trades on Checkatrade passed 47,000 as the flexibility offered by Checkatrade's tiered subscription packages continues to resonate, and trades retention continued to improve.

As set out in the Scheme Document published on 16 June 2022, a Court Meeting and General Meeting will take place later today to seek shareholder approval for the recommended cash offer by Bidco for the entire issued and to be issued share capital of HomeServe.

Brookfield and HomeServe are making good progress on submitting all the regulatory and competition notifications and pre-notifications required to complete the transaction, which is still expected to close in the fourth calendar quarter of 2022.

Contacts

About HomeServe

HomeServe is an international home repairs and improvements business that makes home repairs and improvements easy by matching customers to trades to generate repeat and recurring income. On 19 May 2022, a recommended offer for HomeServe from Bidco was announced, which ascribes an equity value of approximately £4.1 billion to HomeServe.

Forward-looking statements

This announcement contains certain forward-looking statements, which have been made in good faith, with respect to the financial condition, results of operations and business of HomeServe plc. These statements and forecasts involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. These statements have been made with reference to forecast price changes, economic conditions, the current regulatory environment and the current interpretations of IFRS applicable to past, current and future periods. Nothing in this announcement should be construed as a profit forecast.

ENDS