Slide 1: Delivering the Pathway to 2030
Delivering the Pathway to 2030 RIIO-T3 Webinar 30 March 2026
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by SSE plc solely for use on 30 March 2026 during the RIIO-T3 Investor Video. This presentation may not be disclosed or published, nor used by any other person or entity, for any purpose other than assessment of SSE plc’s view on RIIO-T3, other than wit
Slide 3: Agenda
Agenda Rob McDonald Managing Director • The network growth requirement SSEN Transmission • Consenting update • Community and economic benefit • Supply chain secured and in delivery Maz Alkirwi Finance Director SSEN Transmission • RIIO-T3 introduction & financial parameters • Network resilience and i
Slide 4: Transformational investment in delivery
Transformational investment in delivery Major projects delivery well underway ~21GW of generation supported 21 substations 5 new subsea links Over 630km new double circuit overhead lines Over 1,200 km of new DUAL HVDC cable Clean Power 2030 supported Connections Reform enabled Status as at 30 March
Slide 5: Consenting update: Pathway to 2030
Consenting update: Pathway to 2030 5
Slide 6: Convert graphic in to slide format
Convert graphic in to slide format Was there one of these that referenced UK jobs rather than just the 17.5k Scottish jobs? 6
Slide 7: Pathway to 2030: continued growth in the supply chain
Pathway to 2030: continued growth in the supply chain 7
Slide 8: Supply chain secured and in delivery
Supply chain secured and in delivery Offshore and Islands Subsea HVDC/AC Sub- Secured supply • Frameworks in place Projects Converter Cable Civil and building station chain • Well established supply chain partners Western Isles Spittal-Peterhead EGL2 Structured • Multi-party forum and steering group
Slide 9: Evolution of a well-established framework
Evolution of a well-established framework RIIO-T2 RIIO-T3 Apr 2021-Mar 2026 Apr 2026-Mar 2031 Cost of Equity (real) 5.09%1 5.70% Cost of Debt (real) 2.68% 1 3.84% Gearing 55% 55% WACC (real) 3.77% 1 4.68% WACC (semi-nominal) N/A 5.75% 77%- Baseline totex 55% - Baseline totex Capitalisation rate 85%-
Slide 10: RIIO-T3 Baseline totex approved
RIIO-T3 Baseline totex approved Baseline allowances approved Underpinning transformational network investment ~£4bn ex ante funding1 >£29bn4 Non load Indirects Resilience Digital Cyber portfolio BSC & CAI2 ~5x Uncertainty Project need approved with focus on maintaining high Mechanism standards of ne
Slide 11: Investment ramps up over the plan, driven by eleven major projects
Investment ramps up over the plan, driven by eleven major projects Visibility on step-change in capex requirement… With momentum behind delivery… Illustrative phasing of ~£29bn capex1 £8bn • ~£29bn gross capex in the plan period equivalent to £22bn on a net basis for SSE plc • 90% on ASTI & LOTI pro
Slide 12: Rapid RAV growth driving sustainable earnings uplift
Rapid RAV growth driving sustainable earnings uplift One of the fastest growing electricity networks RAV return and depreciation largest drivers of globally sustainable operating profit growth Gross RAV Operating profit ~£30bn ~30% >30% Gross RAV CAGR Operating profit CAGR ~£7bn £430m FY25a FY30e FY
Slide 13: Visibility on achievable returns
Visibility on achievable returns Pathway to overall return on equity1 above 9% Continuing outperformance expected • Framework of incentive mechanisms across time >1% >9% horizons in T3 and into T4 • At least 100bps outperformance targeted across T3 ~2% T2 T3 T4 ~100 bps >100 bps Future price 5.7% op
Slide 14: Thank you
Thank you For more information, contact: ir@sse.com