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FIRSTGROUP PLC - AGM Trading Statement

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FirstGroup plc (FirstGroup or the Group) will be holding its Annual General Meeting (AGM) at 14:30 today. The Chair of the AGM will make the following comment on recent trading at the meeting:

"The Group’s overall trading performance for the financial year-to-date has been in line with the expectations we outlined at our full year results in June. While some uncertainty remains around the pace of recovery in light of the pandemic and the broader macroeconomic backdrop, we expect the Group to make significant further progress in the current financial year.

"In the last financial year we have delivered on our commitment to transform FirstGroup through consistent execution. We have simplified and refocused the Group through the sale of the North American businesses, unlocked substantial value for shareholders, strengthened the balance sheet and accelerated our sustainability progress, all while continuing to play our part in connecting people and communities.

"With leading positions in bus and rail, FirstGroup is now a resilient and robust platform from which to develop and maximise the opportunities that exist for growth. The Group has a clear purpose and role to play at the heart of our communities. It is cash-generative, well-capitalised, and able to invest in a low carbon future while supporting progressive dividends to shareholders."

As previously announced, Non-Executive Directors Warwick Brady and Julia Steyn have decided not to seek re-election at today's AGM and will therefore step down from the Board at the end of the meeting today. The Group thanks them for the significant contributions they have each made to the Board and the company.

Contacts at FirstGroup:
Investor relations: Faisal Tabbah
Media: Stuart Butchers
Tel: +44 (0) 20 7725 3354

Contacts at Brunswick PR:
Andrew Porter / Simone Selzer
Tel: +44 (0) 20 7404 5959

Forward-looking statements
Certain statements included or incorporated by reference within this document may constitute ‘forward-looking statements’ with respect to the business, strategy and plans of the Group and our current goals, assumptions and expectations relating to our future financial condition, performance and results. By their nature, forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors that cause actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. No statement in this document should be construed as a profit forecast for any period. Shareholders are cautioned not to place undue reliance on the forward-looking statements. Except as required by the UK Listing Rules and applicable law, the Group does not undertake any obligation to update or change any forward-looking statements to reflect events occurring after the date of this document.

Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR 6 Annex 1R: 3.1.

FirstGroup plc (LSE: FGP.L) is a leading private sector provider of public transport services. With £4.6 billion in revenue and more than 30,000 employees, our UK divisions transported nearly 1.5m passengers a day in the last financial year. First Bus is the second largest regional bus operator in the UK, serving two-thirds of the UK’s 15 largest conurbations with a fleet of c.4,900 buses. First Rail is the UK’s largest rail operator, with many years of experience running long-distance, commuter, regional and sleeper rail services. We operate a fleet of c.3,800 rail vehicles through four management fee-based train operating companies (Avanti, GWR, SWR, TPE) and two open access routes (Hull Trains and Lumo). We create solutions that reduce complexity, making travel smoother and life easier. Our businesses are at the heart of our communities and the essential services we provide are critical to delivering wider economic, social and environmental goals. We are formally committed to operating a zero-emission First Bus fleet by 2035 and to cease purchasing further diesel buses after 2022; and First Rail will help support the UK Government’s goal to remove all diesel-only trains from service by 2040. In 2022 FirstGroup was named as one of the world's cleanest 200 public companies for the third consecutive year by sustainable business media group Corporate Knights in partnership with US not-for-profit organisation, As You Sow. Visit our website at and follow us @firstgroupplc on Twitter.

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