Stonegate Pub Company Financing plc

Update on financing structure in relation to outstanding existing CDS

February 12, 2020: Stonegate Pub Company Financing plc today announced
confirmation that as part of its proposed upcoming financing to support the transaction
of Ei Group plc that the new funding structure, which will consist of an issuance of
notes, or bridge loans which in turn are anticipated to be refinanced by an issuance of
notes, will incorporate Stonegate Pub Company Financing plc as one of the guarantors
of the new notes and/or bridge loans.

Cautionary Statement
This press release is not an offer to sell the securities of Stonegate Pub Company
Financing plc, or any other entity within the Stonegate group, in the United States.
Securities may not be offered or sold in the United States absent registration or unless
pursuant to an applicable exemption from the registration requirements of the U.S.
Securities Act of 1933, as amended, and any other applicable securities laws. If any
public offering of securities is made in the United States by Stonegate Pub Company
Financing plc, or any other entity within the Stonegate group, it will be by means of a
prospectus that may be obtained from such entity within the Stonegate group or the
selling security holder that will contain detailed information about the Stonegate group
and management, as well as financial statements.

Forward-Looking Statements

This press release may include forward-looking statements. These forward-looking
statements can be identified by the use of forward-looking terminology, including the
terms “believes”, ‟estimates”, ‟anticipates”, “expects”, ‟intends”, ‟may”, ‟will” or “should”
or, in each case, their negative, or other variations or comparable terminology. These
forward-looking statements include all matters that are not historical facts and include
statements regarding the Stonegate group or its affiliates’ intentions, beliefs or current
expectations concerning, among other things, the Stonegate group or its affiliates’
results of operations, financial condition, liquidity, prospects, growth, strategies and the
industries in which they operate. By their nature, forward-looking statements involve
risks and uncertainties because they relate to events and depend on circumstances that
may or may not occur in the future. Readers are cautioned that forward-looking
statements are not guarantees of future performance and that the Stonegate group or
its affiliates’ actual results of operations, financial condition and liquidity, and the
development of the industries in which they operate may differ materially from those
made in or suggested by the forward-looking statements contained in this press release.
In addition, even if the Stonegate group or its affiliates’ results of operations, financial
condition and liquidity, and the development of the industries in which they operate are
consistent with the forward-looking statements contained in this press release, those
results or developments may not be indicative of results or developments in subsequent
periods.