Yorkshire Water Services Finance Ltd – New investor signals confidence in Yorkshire Water

Yorkshire Water, a leading water company serving over 5 million customers daily,
is pleased to announce that EQT has agreed to acquire a 42% stake in Kelda
Holdings Limited, the parent company of Yorkshire Water, in a move that signals
confidence in the water company’s plans for the future.

EQT is a purpose-driven global investor with deep experience in managing long
-term strategic assets and a strong track record of managing critical
infrastructure. With a Nordic heritage and a global mindset, EQT has a strong
presence in the UK having invested over £10 billion of equity in UK
-headquartered businesses across its Private Capital and Infrastructure
strategies. Its investment model is built on multi-year ownership and
operational improvement, directly in line with the strategy and plan for
Yorkshire Water.

EQT is committed to investing further equity to strengthen the Company’s balance
sheet, including contributing to the approximate £600m intercompany loan
repayment that is due before March 2027. EQT is also fully supportive of the
plan to deliver the Company’s largest ever environmental investment program,
with a total of £8.3 billion dedicated to improving services and upgrading
infrastructure throughout the region between 2025 and 2030. This investment
program will continue to drive a step change in environmental protection,
infrastructure resilience and service quality across the region, further
supported by the hiring of over 1,000 new employees locally.

Following the completion of the transaction and a simplification of the capital
structure, existing shareholders GIC, a leading global investor, and TCorp, the
investment and financial management partner of the New South Wales (NSW) public
sector in Australia will hold 42% and 16% of the company respectively. The
change of ownership is expected to be completed by the end of June 2026.

The acquisition is conditional upon approvals, including anti-trust.

Nicola Shaw, Chief Executive of Yorkshire Water and Kelda Holdings Limited
commented: «This is a great step forward for Yorkshire Water. The EQT team will
bring additional expertise to our Board, and their backing is a strong vote of
confidence in our plan to improve performance and the progress we have made so
far. EQT has a long-term perspective and their team is committed to supporting
the delivery of our £8.3bn investment programme. Their support, together with
GIC and TCorp, will enable us to continue to execute our strategy, maintain
focus on operational performance, and deliver the investment needed to improve
outcomes for customers and the environment across Yorkshire.»

Kunal Koya, Partner at EQT Infrastructure said: «Our strong track record as a
long-term active owner of large infrastructure assets makes EQT a natural
partner for Yorkshire Water. We believe that as a responsible private capital
manager, EQT can play an important role in modernizing the UK’s water
infrastructure, and the Company’s multi-year investment plan reflects that
objective. Together with Yorkshire Water’s existing investors, we will support
the sector’s reform agenda and deliver service improvements for customers across
the region and transparency for all stakeholders.»

Notes to editors

For media enquiries, please contact:

Emily Brady, Communications Manager

[email protected]

For investor enquiries, please contact:

Daniel Clarke, Head of Corporate Finance

[email protected]

About Yorkshire Water

We’re Yorkshire Water. The people trusted to take care of Yorkshire’s most
valuable natural resource. On the surface, we manage and look after the region’s
water, coast and countryside. But our work means much more than just providing
essential services to over 5 million customers in the region. We’re an integral
part of Yorkshire life and millions of people who live and work here rely upon
us, every single day.

Our vision is to create a thriving Yorkshire, which is right for customers and
right for the environment. Over the next five years, from 2025-2030, we are
investing £8.3 billion to improve performance and ensure we deliver for our
customers and the environment. It is our largest ever environmental investment,
which will provide benefits for decades to come and help Yorkshire’s economy by
supporting up to 10,000 jobs. Our plan supports the changes we need to provide
safe, clean, great tasting water; deliver value for money to our customers;
build and operate efficient infrastructure; reduce pollution; improve river
quality and reduce carbon emissions.

More info: www.yorkshirewater.com

Follow Yorkshire Water on LinkedIn (https://www.linkedin.com/company/yorkshire
-water/?originalSubdomain=uk), X (https://x.com/YorkshireWater?lang=en),
YouTube (https://www.youtube.com/@yorkshirewatertube) and
Instagram (https://www.instagram.com/yorkshirewater/?hl=en)

About EQT

EQT is a purpose-driven global investment organization with EUR 270 billion in
total assets under management (EUR 141 billion in fee-generating assets under
management) as of 31 December 2025, within two business segments – Private
Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia
Pacific and the Americas and supports them in achieving sustainable growth,
operational excellence and market leadership.

More info:www.eqtgroup.com
Follow EQT
onLinkedIn (http://www.linkedin.com/company/508278),X (https://twitter.com/eqt),Y
ouTube (https://www.youtube.com/channel/UCPkDSny24x66By2G2_B1Okw/featured)andInst
agram (https://www.instagram.com/eqtgroup/)

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