10 January 2023

National Grid plc ('National Grid' or 'Company')

National Grid plc Scrip Dividend

National Grid confirms that an application has been made to the Financial Conduct Authority for ordinary shares to be admitted to the Official List, and to the London Stock Exchange for 16,012,646 ordinary shares to be admitted to trading, in relation to the operation of the Scrip Dividend Scheme for the 2022/23 interim dividend, payable on 11 January 2023.  Dealings are expected to commence on 11 January 2023 and the shares will rank pari passu with the existing issued ordinary shares of the Company. 

In accordance with the terms of the scrip dividend, 15,538,336 ordinary shares are to be issued at a price of 1014.90 pence per share.  In accordance with the terms of the scrip dividend for US holders of American Depositary Receipts ('ADRs'), 94,862 ADRs (each representing 5 ordinary shares) are to be issued at a price of US$61.0513, representing 474,310 ordinary shares (including fractional entitlements). 

The current terms and conditions of the scrip dividend scheme are available in the Investors section on the Company's website and from Equiniti on 0800 169 7775 or help.shareview.co.uk. 

Pritti Patel

General Counsel, Corporate and Deputy Company Secretary