Transport For London Extension of Government Support Package (1050W)

TIDM40CT

RNS Number : 1050W

Transport For London

17 December 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

Transport for London ("TfL")

17 December 2021

Extension of Government Support Package

TfL announces that the current extraordinary funding and financing agreement between TfL and the Department for Transport ("DfT") has been extended to 4 February 2022.

On 1 June 2021, TfL announced that an extraordinary funding and financing support package (the "Funding Package") had been agreed between TfL and the DfT to support transport services in London and contribute towards TfL's forecast revenue loss due to reduced passenger numbers using TfL services as a result of the pandemic. The Funding Package initially provided support for the period from 29 May 2021 to 11 December 2021.

On 13 December 2021, TfL announced that the terms of the Funding Package had been amended to define the funding period as 29 May 2021 to 17 December 2021, to allow TfL to continue discussions with the government in relation to further financial support.

Following further discussion, the terms of the Funding Package have now been amended to define the funding period as 29 May 2021 to 4 February 2022. Other provisions of the Funding Package remain materially the same, including the Top Up Grant mechanism, pursuant to the terms of the Funding Package.

The original terms of the Funding Package announced on 1 June 2021 can be found at:

https://content.tfl.gov.uk/tfl-extraordinary-funding-and-financing-settlement-letter-1-june-2021.pdf

For further information, please contact:

Transport for London

5 Endeavour Square

London

E20 1JN

Email: GroupTreasury@tfl.gov.uk

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