Update on 2021 PSP Award Targets

Biffa plc

16 December 2021

Update on 2021 PSP Award targets

Biffa plc (the "Company") is providing this update following the grant of conditional awards under the Company's Performance Share Plan in June 2021 ("2021 PSP Award").

As previously disclosed, due to the prevailing levels of market and economic uncertainty the target range for the EPS performance condition for the 2021 PSP Award was not agreed at the time of grant.

The Company's Remuneration Committee has now approved the EPS target range applying to 50% of the 2021 PSP Award as set out below:

EPS Target Range

The vesting of the remaining 50% of the 2021 PSP Award is dependent on relative TSR performance as set out in the 2021 Directors' Remuneration Report.

Further disclosure in respect of the 2021 PSP Award and applicable performance conditions will be included in the 2022 Directors' Remuneration Report.

Enquiries

Sarah Parsons, General Counsel & Company Secretary

[email protected]

Media & Analysts

Houston

T: +44 (0) 204 529 0549

[email protected]

About Biffa

Biffa has been at the forefront of the UK's waste industry for over a hundred years, with operations that span the entire breadth of the waste management process including collection, recycling, treatment, disposal and energy generation. Our purpose is to change the way people think about waste. We help people see the opportunities that exist when we manage our waste in the right way. We understand the vital role we have to play in helping the UK to address the climate emergency and deliver sustainable growth. This involves an ambitious investment programme in green economy infrastructure and low carbon collections, alongside an ongoing commitment to sector leadership in the health, safety and wellbeing of our people. Biffa is a Great British company. It 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/investors