Ferguson plc

Share Repurchase Program

Ferguson plc (the "Company") announces that, in continuation of its $3.0 billion share repurchase program (the "Program"), it has entered into a non-discretionary arrangement with its broker Barclays Capital Inc. ("Barclays") commencing from March 15, 2024 and ending no later than June 13, 2024. Barclays, an independent third party, will make trading decisions concerning the timing of the purchases of the Company's shares independently of the Company. Barclays will carry out the instruction through the acquisition by Barclays, as agent on behalf of the Company, of ordinary shares in the Company.

The maximum pecuniary amount allocated to this tranche of the Program is $220 million. The value of shares repurchased by the Company under the Program pursuant to the various arrangements entered into with its brokers will not, in aggregate, exceed $3.0 billion.

The Company's shareholders generally authorized the Company to purchase up to a maximum of 20,398,372 of its ordinary shares at its Annual General Meeting held on November 28, 2023. Pursuant to such authority, the Company intends to continue purchasing shares under the Program. The aggregate number of shares acquired under such authority by the Company pursuant to the Program shall not exceed the maximum number of shares which the Company is authorized to purchase pursuant to such general authority. It is intended that any shares repurchased under the Program will be transferred into treasury.

The purpose of the Program is to reduce the capital of the Company. To the extent required, the Company may in the future use the repurchased shares to satisfy share awards. Any purchases of shares by the Company in relation to this tranche of the Program will be carried out on the New York Stock Exchange (in accordance with the terms of the arrangement entered into with Barclays) and in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase shares granted by its shareholders, the Market Abuse Regulation 596/2014 (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018), Rule 10b5-1 and Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended.