Stonewater Funding Plc — Moody's Ratings' credit rating November 2026

(LSE:14MD) Stonewater Funding PLC announced that on 5 November 2026, Moody's reaffirmed Stonewater's long-term issuer credit rating at 'A3' with a stable outlook. Moody's cited Stonewater's strong financial management, organisational scale, and focus on social housing as key factors supporting the rating. The agency also highlighted sector-wide financial pressures, including increased investment in existing homes, repairs, building safety, and energy-efficiency works. These pressures could raise operating costs and capital requirements for Stonewater. Moody's noted that such factors may affect future funding costs and ratings for Stonewater. The reaffirmation of the 'A3' rating reflects Moody's assessment of Stonewater's creditworthiness as of the stated date. The stable outlook indicates Moody's expectation that Stonewater will maintain its current credit profile in the near term. The announcement does not disclose any changes to Stonewater's financial instruments or debt structure. No new financial figures, issuance amounts, or maturities are stated in this notice. The notice is focused solely on the credit rating action and Moody's rationale.

Transfer of Engagements

(LSE:14MD) Stonewater Funding plc has announced the transfer of engagements from Mount Green Housing Association Limited to Stonewater Limited, effective 30 September 2026. Mount Green Housing Association Limited, a Registered Provider of Social Housing and community benefit society with registered number 16264R, has transferred its engagements to Stonewater Limited pursuant to section 110 of the Co-operative and Community Benefit Societies Act 2014. This transfer of engagements is classified as a Permitted Re-organisation under the terms of the Bonds. Stonewater Limited is currently a Borrower under each of the Bond structures, while Mount Green is currently a Borrower under the £200,000,000 5.034 per cent. Secured Bonds due 2042 (the "2042 Bonds"). Stonewater Limited will remain the parent of the Stonewater Group following the transfer. The Bonds affected by this notice include the £250,000,000 1.625 per cent. Secured Sustainability Notes due 2036 (the "2036 Bonds"), the £200,000,000 5.034 per cent. Secured Bonds due 2042 (the "2042 Bonds"), and the £250,000,000 3.375 per cent. Secured Bonds due 2045 (the "2045 Bonds"). The transfer is effective as of 30 September 2026. The notice is addressed to holders of the Bonds. Stonewater Group remains the overarching entity, with Stonewater Limited as its parent. The transfer is conducted in accordance with the Co-operative and Community Benefit Societies Act 2014. For further information, Jonathan Layzell is listed as a contact for Stonewater Group.

Chair, CIO & Company Secretary appointments

(LSE/AIM: 14MD) Stonewater Funding PLC announced that Sheila Collins has elected to stand down as chair of Stonewater after a 7-year tenure. Sheila will officially step down on 30 September. Angus Michie, who currently serves on the Board as Chair of Homes and Development Challenge and Assurance Panel, Chair of Stonewater Developments Limited and Chair of Stonewater Commercial Limited, will succeed Sheila. James Bradbury has been appointed as Stonewater's Chief Investment Officer, a newly created role, effective from 15 th June. Syka Sheikh has been announced as the new Company Secretary, also serving as Group Director of Governance & Assurance, effective from 22 nd June. The wider team at Stonewater will be working with both James and Syka to support the changes and help them settle into their new roles. The announcement was provided by RNS, the news service of the London Stock Exchange, in the United Kingdom.

(LSE/AIM: 14MD) Stonewater Funding plc is considering a corporate reorganisation involving the transfer of engagements of Mount Green Housing Association Limited to Stonewater Limited, pursuant to section 110 of the Co-operative and Community Benefit Societies Act 2014. The Bonds involved are £250,000,000 1.625 per cent. Secured Sustainability Notes due 2036, £200,000,000 5.034 per cent. Secured Bonds due 2042, and £250,000,000 3.375 per cent. Secured Bonds due 2045. Mount Green is currently a Borrower under each of the 2036 Bonds and the 2042 Bonds, while Stonewater Limited is a Borrower under each of the Bond structures. Stonewater Limited will remain the parent of the Stonewater Group. The transfer of engagements falls within the definition of a Permitted Re-organisation under the Bonds. The current intention is subject to completion of due diligence and funder consents.

STONEWATER FUNDING PLC