Disclaimer

This section of the website offers both current and prospective investors documents containing information relating to companies within the Kelda Group (including Yorkshire Water Services Limited and associated entities which are issuers of debt securities), (the “Documents”).

The following disclaimer applies to the Documents and you are therefore advised to read this carefully before reading, accessing or making any other use of the Documents.

The Documents on these pages are provided for information purposes only. None of the information contained in the following pages of the website constitutes an offer of, or an invitation to purchase, any security, nor any investment advice or services. You should consult your professional adviser to ascertain the suitability of any of the bonds as an investment.

The Documents displayed on or accessible via this website do not comprise a prospectus approved in accordance with the Prospectus Rules made under Part VI of the Financial Services and Markets Act 2000 of the United Kingdom (the "Prospectus Rules"). The Documents are an advertisement for the purposes of the Prospectus Rules and no person should subscribe for any securities referred to herein except on the basis of information to be contained in the final Prospectus, which will be obtainable from the Company Secretary at Western House, Halifax Road, Bradford, West Yorkshire, BD6 2SZ, or downloadable from this website.

The Documents do not constitute an offer to sell, or the solicitation of an offer to subscribe for or buy, any of the securities referred to herein, in the United States or any other jurisdiction.

The Documents and access to this section of the website is directed only at (i) persons who have professional experience in matters relating to investments, falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) persons falling within Article 49(1) of the Order (including high net worth companies, unincorporated associations) or (iii) other persons to whom the Documents and this section of the website may lawfully be communicated (the persons in (i), (ii) and (iii) together being referred to as "relevant persons").

Any investment activity to which these Documents relate will only be available to and will only be engaged in with relevant persons.

Any person who is not a relevant person should not act on these Documents or any of their contents.

It should be noted that the company's auditors have not reviewed the information in these Documents.

The debt securities referred to in the Documents have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or delivered within the United States or to U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Any representation to the contrary is a criminal offence in the United States.

In addition, certain of the debt securities may be subject to U.S. tax law requirements and may not be offered, sold, or delivered within the United States or its possessions or to a United States person, except in certain transactions permitted by United States tax regulations.

Accordingly, subject to certain exceptions, the securities referred to in the Documents may not be offered or sold within the United States or to or for the account or benefit of US persons (as defined in Regulation S under the Securities Act).

There will be no public offer of the securities in the United States.

The release and availability of this website and the Documents and information on this website may be restricted by law in certain jurisdictions, and therefore persons who access this website and the Documents should inform themselves about and observe any such restrictions and seek legal advice as needed.

This website and the Documents and information on this website are not directed at, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any jurisdiction where such availability or use would be contrary to applicable law or regulation or which would subject any member of the Kelda Group to any registration or licensing requirement within such jurisdiction.

No member of the Kelda Group is obliged, nor accepts any obligation, to update the information on this website, and does not guarantee that the information on this website is up-to-date or accurate.

Certain information contained in the Documents is derived from information provided to or obtained by a member of the Kelda Group from third party sources. Accordingly, whilst those sources are believed to be reliable and accurate, no member of the Kelda Group guarantees the accuracy or completeness of the Documents and they should not be relied on as such.

You are responsible for protecting against viruses and other destructive items. Your receipt of the electronic transmission is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature.