FIRSTGROUP PLC

Rolling Stock Agreement for stirling open access service

FirstGroup plc (or the `Group') is pleased to provide an update on its new
London to Stirling open access rail service.

As previously announced, in 2024 the Group acquired Grand Union Wcml which
included track access rights granted by the Office of Rail and Road (`ORR') to
run open access rail services from London Euston to Stirling. The current track
access agreement runs until 2030 and includes four return services a day (three
on Sundays) and an additional, fifth daily return service between Preston and
London, seven days a week.

The Group has subsequently entered into rolling stock leases for the duration of
the current track access agreement, for five Class 222 six car diesel trains
with Eversholt Rail, with a total seat capacity of c.340 standard class seats
per service, representing c.447m annual seat miles when fully operational.
Services are currently expected to commence mid 2026 following the delivery of
the trains and staff training.

The new service will be operated under the successful Lumo brand and will
provide more choice for passengers with significantly increased direct
connections to and from London and central and southern Scotland, making use of
available paths on the network. Stations served will include Stirling, Larbert,
Greenfaulds (serving Cumbernauld), Whifflet (serving Coatbridge), Motherwell,
Lockerbie, Carlisle, Preston, Crewe, Nuneaton, Milton Keynes and London Euston.
Of these stations, Whifflet, Greenfaulds and Larbert will have their first
direct services to London.

Following a period of mobilisation, the Group expects to achieve annual revenues
of c.£50m and a low double digit operating profit margin, pre IFRS 16. Looking
ahead, the Group will evaluate opportunities to extend the track access
agreement, making use of the option for additional electric or bi-mode trains
from the Group's recently announced £500m rolling stock lease agreement.

Open access rail operators are set up with solely private investment and take
full commercial risk and opportunity. The benefits of the successful open access
model, recognised by Government and the independent regulator ORR, include
connecting under-served places, helping to drive economic growth and providing
additional capacity on core routes which can push a modal shift away from carbon
-intensive travel.

Commenting, Chief Executive Officer Graham Sutherland said:

"The mobilisation of our new service between London and Stirling is another
important step towards rolling out Lumo as a nationwide operator and growing our
open access capacity, a key priority for the Group. Our investment and
capabilities in open access rail have delivered reliable, value for money
services, grown rail demand and helped to spur economic growth and connect
communities. We look forward to doing the same on our new services."

Contacts at FirstGroup:                            Contacts at Brunswick Group:

Marianna Bowes, Head of Investor Relations         Andrew Porter / Simone Selzer

Stuart Butchers, Head of Corporate Communications  Tel: +44 (0) 20 7404 5959

corporate.comms@firstgroup.co.uk

Tel: +44 (0) 20 7725 3354

Contacts at Panmure Liberum:  Contacts at RBC Europe Limited:

Nicholas How / John More      James Agnew / James Maitland

Tel: +44 (0) 20 3100 2000     Tel: +44 (0) 20 7653 4000

Forward-looking statements

Certain statements included or incorporated by reference within this document
may constitute `forward-looking statements' with respect to the business,
strategy and plans of the Group and our current goals, assumptions and
expectations relating to our future financial condition, performance and
results. By their nature, forward-looking statements involve known and unknown
risks, assumptions, uncertainties and other factors that cause actual results,
performance or achievements of the Group to be materially different from any
future results, performance or achievements expressed or implied by such forward
-looking statements. No statement in this document should be construed as a
profit forecast for any period. Shareholders are cautioned not to place undue
reliance on the forward-looking statements. Except as required by the UK Listing
Rules and applicable law, the Group does not undertake any obligation to update
or change any forward-looking statements to reflect events occurring after the
date of this document.

Notes

Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR 6
Annex 1R: 3.1.

About FirstGroup

FirstGroup plc (LSE: FGP.L) is a leading private sector provider of public
transport services. With £4.7 billion in revenue and around 30,000 employees, we
transported almost 2m passengers a day in FY 2024. We create solutions that
reduce complexity, making travel smoother and life easier. Our businesses are at
the heart of our communities and the essential services we provide are critical
to delivering wider economic, social and environmental goals. Each of our
divisions is a leader in its field: First Bus is one of the largest bus
operators in the UK, serving more than 25% of the population in the UK with a
fleet of over 5,750 buses, and carrying more than a million passengers a day.
First Rail is one of the UK's most experienced rail operators, with many years
of experience running long-distance, commuter, regional and sleeper rail
services. We operate two DfT contracted train operating companies: WCP
(incorporating Avanti West Coast and West Coast Partnership Development) and
GWR, and two open access routes (Hull Trains and Lumo). We are formally
committed to operating a zero emission First Bus commercial fleet by 2035, and
First Rail will help support the UK Government's goal to remove all diesel-only
trains from service by 2040. During FY 2024 FirstGroup was named as one of the
world's cleanest 200 public companies for the fifth consecutive year and
achieved Industry Top-Rated status for the first time with Sustainalytics. We
provide easy and convenient mobility, improving quality of life by connecting
people and communities. Visit our website at www.firstgroupplc.com and follow us
@firstgroupplc on X.


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