Update re: Augean North HMRC Assessment

Augean plc

("Augean" or "the Group")

Update re: Augean North HMRC Assessment

Augean, one of the UK's leading specialist waste management businesses has been re-issued with a final assessment from HMRC for Augean North Ltd for a total amount of £1.1million (£1.3million including interest) covering the period from August 2013 to July 2014. This compares to the previously assessed amount of £2.8million. This re-assessment is in addition to the £9.4m final assessment for Augean North announced on October 8th 2018 which covers the time period from August 2014 to August 2017.

We still believe that this assessment is without merit and maintain our position based on the legal advice received and independent reviews of our systems.

The Group will take all appropriate legal channels to challenge the assessment received and seek to mitigate payment of the tax until these legal appeals have concluded.

The reduction in this Augean North re-assessment should not be used to read across to the other quarters that were included in the announcement of October 8th, notably the period from August 2014 to August 2017.

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