Launches new share buyback programme

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER

FOR SALE OF ANY SECURITIES OR AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN ANY

JURISDICTION OR A SOLICITATION OF ANY VOTE OR APPROVAL.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART

IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE

RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

11 December 2024

Ashtead Group plc

Launches new share buyback programme of up to USD 1.5 billion

Pursuant to the disclosure by Ashtead Group plc (the "Company") in the second quarter results announcement on 10 December concerning the launch of a new share buyback programme of up to $1.5bn over 18 months, Ashtead Group plc (the "Company") announces that it has entered into an arrangement with Barclays Bank PLC, acting through its Investment Bank ("Barclays"). The arrangement allows Barclays to purchase, together with any other ordinary shares in the Company (the "Shares") purchased on the Company's behalf pursuant to this buyback programme, up to (a) in accordance with the terms of the Company's current buyback authority granted by shareholder resolution dated 4 September 2024, 65,551,091 Shares up to and including the date of the next AGM; and (b) following the expiry of such current buyback authority, the aggregate number of Shares authorised to be purchased by the Company under any subsequent buyback authority granted during the arrangement (which in any event shall be less than 15% of the relevant class of the Company's equity shares at the date of such authority). These share purchases will be made by Barclays acting as riskless principal and in accordance with the arrangement, and they shall be made independently of and uninfluenced by the Company.

Any share purchases effected pursuant to the arrangement will be subject to the terms of the arrangement with Barclays and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase shares and the United Kingdom Listing Rules, which require that the maximum price paid be limited to be no more than the lower of (i) 105 per cent of the average middle market closing price of the Company's ordinary shares for the five business days before the purchase is made, and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out.

Following the purchase of the Shares, they will be placed into treasury. The sole purpose of these share purchases is to reduce the Company's share capital.

Further enquiries:

Will Shaw	Ashtead Group plc	[phone]
Sam Cartwright	H/Advisors Maitland	[phone]

---

---