Travis Perkins: Directorate Change

27 March 2024

Travis Perkins plc

DIRECTORATE CHANGE

The Board of Travis Perkins plc (“Travis Perkins” or the “Company”) today announces that Nick Roberts will be stepping down as Chief Executive Officer and from the Board after five years in the role. The Board and Nick are aligned that now is the right time to search for a new leader to take the business forward and the Nominations Committee is currently undertaking a thorough search process for Nick’s successor. Nick has agreed to remain in role until a successor is identified.

Jasmine Whitbread, Chair, commented: “On behalf of the Board, I would like to thank Nick for his dedication and contribution to the business over the last five years. While there has been good progress made in modernising the business, the Board fully recognises the under performance of the business over recent reporting periods, in the context of continued economic challenges and end market weakness.  We remain fully focused on improving profitability and enhancing cash generation, as well as accelerating changes to our operating model to create a simpler, more efficient business, well positioned to emerge stronger when markets recover and to grow shareholder value.”

Nick Roberts commented: “Travis Perkins is a great company with a talented team and I have been privileged to serve as CEO for the last five years. I am proud of the progress we have made in modernising the company. While the Board identifies my successor, I will continue to rigorously execute on our plan and drive performance.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/204 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 and has been authorised for release by Robin Miller General Counsel and Company Secretary.

Enquiries:

Remuneration Disclosure:

Full details of all payments made to and receivable by Nick Roberts in respect of his services as a Director of the Company will be disclosed in a statement under Section 430(2B) Companies Act 2006 to be released upon Nick stepping down from the Board and in the Director’s Remuneration Report within the Company’s Annual Report and Accounts for the year ending 31 December 2024.  To note the following:

• Nick Roberts’ remuneration will be treated in accordance with the Company’s approved Directors’ Remuneration Policy.
• Nick will not receive any payments or compensation for loss of office.
• For the part of the 2024 performance year during which he remains actively in role Nick will remain eligible to receive a pro-rata bonus, subject to performance.   Any bonus that is paid will remain subject to deferral in accordance the Policy.  There will be no eligibility for bonus for any remaining part of 2024.
• No Restricted Share Plan (“RSP”) award will be granted in 2024.
• The outstanding RSP awards will remain outstanding and capable of vesting and exercise on their normal vesting and release dates, in part in the case of the 2021 RSP award based on the portion of the award vesting in March 2024 and in the case of 2022 and 2023 RSP awards based on the application of time pro-ration and the performance underpins. All applicable holding periods shall continue to apply.
• The unvested award held under Deferred Share Bonus Plan will remain outstanding and capable of vesting on its normal vesting date.
• Nick will be required to continue to meet the shareholding requirement policy for a period of two years after ceasing to be a Director of the Company.

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