FRN Variable Rate Fix

As Agent Bank, please be advised of the following rate determined on: 10/23/2025
Issue	¦ National Grid Electricity Transmission Plc - Series 24 GBP 50,000,000 RPI -Linked Instrument 23 Nov 2035
ISIN Number	¦ XS0236362470
ISIN Reference	¦ 18405652
Issue Nomin GBP	¦ 50000000
Period	¦ 11/23/2025 to 5/23/2026						Payment Date 5/26/2026
Number of Days	¦ 181
Rate	¦ 3.88065
Denomination GBP	¦ 50000			¦ 50000000					¦
Amount Payable per Denomination	¦ 970.16			¦ 970162.5					¦
Bank of New York
Rate Fix Desk	Telephone						¦ 44 1202 689580
Corporate Trust Services		Facsimile					¦ 44 1202 689601

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