easyJet plc: Results of Placing

easyJet plc ("easyJet", the "Group" or the "Company"), announces the successful pricing of the non-pre-emptive placing (the "Placing") of new ordinary shares of 27 2/7 pence each in the capital of the Company ("Ordinary Shares") announced yesterday.

A total of 59,541,498 new Ordinary Shares in the capital of the Company (the "Placing Shares") have been placed by BNP Paribas ("BNP Paribas") and Credit Suisse Securities (Europe) Limited ("Credit Suisse") at a price of 703 pence per Placing Share (the "Placing Price"). BNP Paribas and Credit Suisse are acting as Joint Global Co-ordinators, Joint Bookrunners and Joint Corporate Brokers (the "Banks").

The Placing Shares represent approximately 14.99% of the Company's existing issued share capital and will raise gross proceeds of approximately £419 million. The Placing Price of 703 pence represents a discount of 5 per cent to the closing share price of 740 pence on 24 June 2020.

easyJet consulted with a number of its major shareholders prior to the Placing and has respected the principles of pre-emption through the allocation process. The Company is pleased by the strong support it has received from existing shareholders and others.

39,681,092 new Ordinary Shares will be issued under the Company's existing share capital authority (representing approximately 9.99% of the Company's existing ordinary share capital) (the "Firm Share Issuance"). Applications have been made (i) to the Financial Conduct Authority (the "FCA") for admission of the Firm Share Issuance to the premium listing segment of the Official List; and (ii) to London Stock Exchange plc for admission of the Firm Share Issuance to trading on its main market for listed securities (together, "Initial Admission"). It is expected that Initial Admission will become effective on or before 8.00am on 29 June 2020.

19,860,406 new Ordinary Shares will be issued conditional on shareholder approval (the "Conditional Share Issuance"). As previously announced, the Company intends to convene a shareholder meeting, expected to be held on or around 14 July 2020, to approve the allotment of the Ordinary Shares pursuant to the Conditional Share Issuance. Applications will be made (i) to the FCA for admission of the Conditional Share Issuance to the premium listing segment of the Official List; and (ii) to London Stock Exchange plc for admission of the Conditional Share Issuance to trading on its main market for listed securities (together, "Subsequent Admission"). Subject to shareholder approval, it is expected that Subsequent Admission will become effective on or before 8.00am on 15 July 2020.

Completion of the Firm Share Issuance is not conditional on completion of the Conditional Share Issuance and therefore completion of the Firm Share Issuance may occur where the Conditional Share Issuance does not complete, whether by reason of a failure to obtain shareholder approval for that Conditional Share Issuance or otherwise.

The Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with each other and with the existing ordinary shares of 27 2/7 pence in the capital of easyJet, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Following Initial Admission, the total number of shares in issue in easyJet will be 436,889,225. The Company does not hold any shares in Treasury and, therefore, following Initial Admission, the number of voting shares in issue in easyJet will be 436,889,225. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. Subject to completion of the Conditional Share Issuance, the Company will make a further announcement regarding the total number of shares in issue, following Subsequent Admission, in due course.