Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 1

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 1
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 alternative performance measure (APM) used by management to monitor performance across the Group. This measure along with other APMs used in this report are explained in more detail on pages 73 to 89 . These measures are not substitutes for IFRS measures, however management believes such additional information is useful in assessing the performance of the business on a comparable basis.

2. Constant currency calculated using current year average exchange rate of $1.266 (2024: actual average exchange rate was $1.262).

3. 4,707 million weighted average shares for 2024/25 (2023/24: 3,991 million). Comparative amounts for weighted average shares and earnings per share restated for bonus element of the Rights Issue (in accordance with IAS 33).

#### An exciting year of delivery and growth

#### Financial performance
■ Underlying EPS of 73.3p up 2% and slightly ahead of guidance. Increase in shares following the Rights Issue more than offset by improved performance in our regulated businesses, particularly in New York. Statutory EPS of 60.0p up 8%.

■ Recommended final dividend of 30.88p, resulting in a total dividend of 46.72p up 3.2% compared to rebased dividend per share (see page 89 ), in line with policy aim to increase with UK CPIH inflation.

#### Key projects
■ All six Wave 1 ASTI* projects under construction.

■ Connected 2.2 GW of renewable generation in the UK, including 1.2 GW of offshore wind from the Dogger Bank wind farm.

■ Smart Path Connect major transmission project to increase network capacity in upstate New York on track to energise by December 2025.

■ Replaced a further 352 miles of leak-prone pipe across our gas networks in the US in 2024.

#### Strategic initiatives
■ Secured the supply chain for all 12 onshore and Eastern Green Links 1 & 2 offshore ASTI projects.

■ Established a group-wide HVDC* framework to cover remaining offshore ASTI projects and beyond, and the Great Grid Partnership for onshore ASTI project delivery.

■ Supply chain and delivery mechanisms secured for more than two thirds of £60 billion investment plan.

■ National Gas Transmission and ESO divestments completed; agreed sale of National Grid Renewables.

#### Regulatory updates
■ Agreed new rate cases for KEDNY and KEDLI*, MECO* and joint proposal for NIMO