Fuller, Smith & Turner PLC: New £200 million Banking Facilities

STRICTLY EMBARGOED

UNTIL 7AM WEDNESDAY 1 JUNE 2022

FULLER, SMITH & TURNER P.L.C.

(Fullers, the Company, or the Group)

New £200 million Banking Facilities

Fullers, the premium pubs and hotels business, today announces that it has successfully completed the refinancing of its Group debt facilities of £192 million, which were due to mature in February 2023. The new debt facilities consist of a £90 million term loan and a £110 million Revolving Credit Facility provided by a syndicate of seven banks.

The new facilities have an initial maturity date of 31 May 2026 with an option to extend by a further year. The facilities are unsecured, and the borrowing cost of the facilities is determined by the level of Company leverage. The initial borrowing cost is 285 basis points over SONIA, which is a significant improvement to the cost of the existing debt facilities.

The new facilities are £119 million drawn, leaving £81 million of undrawn facilities available to support the future growth of the business.

The Company will provide a comprehensive trading and strategy update at its Full Year results announcement for the year ended 26 March 2022 on 9 June 2022.

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