Sse Plc (Sse:Ln)

SSE PLC (SSE:LN)

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021 Business Description and Key Statistics

SSE is an energy company. Co.'s core businesses include SSEN Current YTY % Chg Transmission, which owns, operates and maintains the electricity transmission network in the north of Scotland; SSEN Distribution, Revenue LFY (M) 6,826 0.4 which owns and operates the electricity distribution networks in the EPS Diluted LFY 2.18 north of Scotland and central southern England; and SSE Renewables, which is involved in the development, construction Market Value (M) 16,688 and operation, and ownership, of assets that generate electricity from renewable sources. Co.'s complementary businesses include Shares Outstanding LFY (000) 1,043,000 SSE Thermal, which generates electricity from thermal sources; Book Value Per Share 6.41 and SSE Business Energy (GB), which provides a route to market for the output from Co.'s renewables and thermal businesses. EBITDA Margin % 47.60 Net Margin % 33.1 Website: www.sse.com Long-Term Debt / Capital % 54.9 ICB Industry: Utilities Dividends and Yield TTM 0.80 - 5.03% ICB Subsector: Conventional Electricity Payout Ratio TTM % 36.8 Address: Inveralmond House;200 Dunkeld Road Perth 60-Day Average Volume (000) 2,926 GBR 52-Week High & Low 1,675.00 - 1,208.00 Employees: 12,513 Price / 52-Week High & Low 0.96 - 1.32

Price, Moving Averages & Volume

1,696.3 1,696.3 SSE PLC is currently trading at 1,600.00 which is 0.1% below its 50 day moving 1,637.8 1,637.8 average price of 1,600.87 and 5.6% above its 200 day 1,579.4 1,579.4 moving average price of 1,514.76.

1,520.9 1,520.9 SSE:LN is currently 4.5% below its 52-week high price of 1,675.00 and is 32.5% above 1,462.5 1,462.5 its 52-week low price of 1,208.00. Over the past 52- 1,404.1 1,404.1 weeks, SSE:LN is up 31.6% while on a calendar year-to- date basis it is up 6.7%. 1,345.6 1,345.6 The Relative Strength Index (RSI) indicator for SSE:LN is 1,287.2 1,287.2 currently 43.4. An RSI value of 70 and above is considered 1,228.8 1,228.8 overbought and 30 and below 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21 oversold. Volume (000) 15,802 15,802

11,852 11,852

7,901 7,901

3,951 Mean (3008.74) 3,951

0 0 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21

Price Price (50-Day Simple Moving Average) Price (200-Day Simple Moving Average)

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % 0.34 -0.61 50-Day Average Price 1600.87 1-Week % -3.15 -4.27 Price / 50-Day Average 1.00 4-Week % -3.18 -2.32 200-Day Average Price 1514.76 52-Week % 31.58 8.63 Price / 200-Day Average 1.06 RSI - Relative Strength Index 43.40 Quarter-to-Date % 6.63 6.15

Year-to-Date % 6.67 -3.88 Risk Metrics Last Month % 12.94 11.02 Price Volatility 21.06 Last Quarter % 3.13 -1.54 Sharpe Ratio 0.01 Last Calendar Year % 4.28 17.27 Sortino Ratio 0.03

5-Year Price Performance vs. FTSE 350

SSE PLC Current: 1.06 CAGR: 1.1% Over the past five years, SSE FTSE 350 Index Current: 1.20 CAGR: 3.8% PLC's stock price is up 5.5% which is 14.7% below the 1.3 1.3 FTSE 350 Index performance of 20.2% over the same period. SSE PLC's cumulative 1.3 1.3 annualized growth rate (CAGR) over the five year 1.2 ^NMX:LN 1.2 period has been 1.1% while that of the FTSE 350 Index has been 3.8%. 1.2 1.2 Over the past year, SSE PLC's stock price performance of 1.1 1.1 31.6% has outperformed that SSE:LN of the FTSE 350 Index by 1.0 1.0 8.6%. On a year-to-date basis, SSE PLC's stock price performance of 6.7% has 1.0 1.0 outperformed the FTSE 350 Index by 3.9%. 0.9 0.9 Over the past week, SSE PLC's stock price performance 0.9 0.9 of -3.1% has underperformed that of the FTSE 350 Index by 4.3%. 0.8 0.8

0.8 0.8

0.7 0.7

0.7 0.7 2017 2018 2019 2020 2021 2022

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % -39.8 -25.0 -13.3 Gross Margin % 39.4 20.2 13.4 Revenues Per Share % -40.2 -25.7 -14.2 EBITDA Margin % 47.6 21.0 12.5 EBITDA % 12.7 20.9 1.4 Pre-Tax Margin % 34.9 10.7 6.0 EPS Diluted % 39.0 36.5 3.0 Net Margin % 33.1 9.2 5.3 Free Cash Flow % 50.0 3.6 1.5 Return on Equity % 42.4 19.9 14.4 Cash from Operations % 1.7 -3.4 0.6 Return on Capital % 17.1 8.3 5.9 Book Value % 7.8 4.4 1.4 Return on Assets % 10.7 4.8 3.4

Revenue (M) SSE PLC's cumulative annualized revenue growth Current: 6826.40 Median: 7331.60 High: 31226.40 Low: 6800.60 CAGR: -30.4% rate over the charted period is 36,111.6 36,111.6 31,226.4 -30.4%. This compares to 29,037.9 cumulatative annualized 25,934.1 25,934.1 growth of -39.8% over the past 3 years. 15,756.7 15,756.7 7,331.6 6,800.6 6,826.4 5,579.3 5,579.3 2017 2018 2019 2020 2021 SSE PLC's cumulative EPS Diluted annualized EPS growth rate Current: 2.18 Median: 1.38 High: 2.18 Low: -0.28 CAGR: 8.4% over the charted period is 2.67 2.67 8.4%. This compares to 2.18 cumulatative annualized 1.58 1.65 1.38 1.65 growth of 39.0% over the past 3 years. 0.81 0.62 0.62 -0.06 -0.41 -0.41 2016 2017 2018 2019 2020 2021

Net Profit Margin % SSE PLC's net profit margin of 33.1% is 23.6% above the Current: 33.13 Median: 5.61 High: 33.13 Low: -0.86 CAGR: 60.0% period's mean net margin of 34.8 34.8 9.5%. During the charted period, the observed net profit 22.4 22.4 margin high and low were 33.1% and -0.9% respectively. 9.9 Mean (9.54) 9.9

-2.6 -2.6 2016 2017 2018 2019 2020 2021 SSE PLC's return on equity of Return on Equity % 42.4% is 22.4% above the Current: 42.40 Median: 20.30 High: 42.40 Low: -1.10 CAGR: 13.0% period's mean return on equity 44.6 44.6 of 20.0%. During the charted period, the observed ROE 28.6 28.6 high and low were 42.4% and Mean (20.00) -1.1% respectively. 12.7 12.7

-3.3 -3.3 2016 2017 2018 2019 2020 2021

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021 Valuation Metrics

5-Year 10-Year 5-Year 10-Year Current Median Median Current Median Median

Price / EPS TTM 7.3 11.6 23.4 Earnings Yield % 13.48 8.64 4.20

Price / Sales 2.4 1.2 0.5 Free Cash Flow Yield % 5.02 4.14 4.42

Price / Operating Cash Flow 5.7 6.3 10.3 Dividend Yield % 5.03 6.74 5.93

Price / Book Value 2.5 2.4 2.7 Enterprise Value / EBITDA 7.4 8.9 12.5

Price / EPS TTM SSE PLC is trading at 7.33 times its EPS generated Current: 7.33 Median: 11.55 High: 99.90 Low: 6.62 CAGR: -13.2% during the latest fiscal year. 104.6 104.6 This multiple is below the historically observed median 70.4 70.4 of 11.55, while high and low observations have been 99.90 and 6.62. 36.2 36.2

Median (11.55) 2.0 2.0 2016 2017 2018 2019 2020 2021 Price / Sales SSE PLC is trading at a Price to Sales ratio of 2.43 based on Current: 2.43 Median: 1.44 High: 2.53 Low: 0.39 CAGR: 36.3% sales generated during the 2.64 2.64 latest fiscal year. This ratio is above the historically observed 1.85 1.85 median ratio of 1.44, while Median (1.44) high and low observations have been 2.53 and 0.39. 1.07 1.07

0.28 0.28 2016 2017 2018 2019 2020 2021 SSE PLC is trading at a Price Price / Book Value to Book ratio of 2.50 based on Current: 2.50 Median: 2.41 High: 3.41 Low: 1.84 CAGR: -3.2% book value at the latest fiscal 3.5 3.5 year end. This ratio is above the historically observed median of 2.41, while high and 2.9 2.9 low observations have been 3.41 and 1.84. Median (2.41) 2.3 2.3

1.8 1.8 2016 2017 2018 2019 2020 2021 SSE PLC has a Free Cash Free Cash Flow Yield % Flow Yield of 5.02% based on Current: 5.02 Median: 4.10 High: 6.88 Low: 0.00 CAGR: -1.3% free cash flow generated 7.2 7.2 during the latest fiscal year. This value is above the historically observed median 4.7 Median (4.10) 4.7 yield of 4.10%, while high and low observations have been 2.2 2.2 6.88 and 0.00.

-0.3 -0.3 2016 2017 2018 2019 2020 2021

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021 Dividends Data

Dividends Per Share TTM 0.80 Payout Ratio TTM % 36.83% Dividend Yield TTM % 5.03%

Rate Ex Date Record Date Payment Date Currency Note 0.244 14-01-2021 15-01-2021 11-03-2021 GBP INTERIM GROSS 0.560 23-07-2020 24-07-2020 18-09-2020 GBP FINAL GROSS 0.240 16-01-2020 17-01-2020 13-03-2020 GBP INTERIM GROSS 0.682 25-07-2019 26-07-2019 20-09-2019 GBP INTERIM GROSS 0.293 17-01-2019 18-01-2019 15-03-2019 GBP INTERIM GROSS 0.663 26-07-2018 27-07-2018 21-09-2018 GBP FINAL GROSS 0.284 18-01-2018 19-01-2018 16-03-2018 GBP INTERIM GROSS 0.639 27-07-2017 28-07-2017 22-09-2017 GBP FINAL GROSS 0.274 19-01-2017 20-01-2017 17-03-2017 GBP INTERIM GROSS 0.625 28-07-2016 29-07-2016 23-09-2016 GBP FINAL GROSS 0.269 21-01-2016 22-01-2016 18-03-2016 GBP INTERIM NET

Dividend Growth and Yield

Dividends Per Share TTM SSE PLC's trailing 12-month dividend per share is 0.80 and Current: 0.80 Median: 0.92 High: 0.98 Low: 0.80 CAGR: -2.3% its dividend has grown at a 0.99 0.99 cumulative annualized rate of -2.3% over the charted period. 0.96 0.96 This compares to dividend growth of -12.80% over the 0.92 0.92 past year and cumulative annualized growth of -4.50% over the past 3 years. 0.89 0.89

0.86 0.86

0.82 0.82

0.79 0.79 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % SSE PLC's current dividend yield is 5.03% based on Current: 5.03 Median: 6.75 High: 9.21 Low: 4.82 CAGR: -3.2% trailing 12 month dividends. 9.43 9.43 The current yield is below the historically observed median 8.62 8.62 of 6.75% and, over the charted time period, the observed high 7.82 7.82 yield has been 9.21% and the observed low yield has been 4.82%. 7.02 7.02

6.21 6.21

5.41 5.41

4.60 4.60 2016 2017 2018 2019 2020 2021

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % -22.9 -5.1 12.6 30.4 48.2 -47.8 -27.7 -7.6 12.4 32.5

Federal Grid Company Of Unified Energ… 45.0 Societatea Energetica Electrica SA 28.9

Drax Group PLC 30.2 Northern Electric PLC 21.9 Drax Group PLC 19.4 Jersey Electricity PLC 12.3 Jersey Electricity PLC 17.5 Peer Group Average 8.2 Peer Group Average 5.6 Tata Power Co Ltd 7.4 SSE PLC 4.3 SSE PLC 6.7 ContourGlobal PLC 2.4 Societatea Energetica Electrica SA -11.2 Public Power Corp SA (Greece) 2.2

ContourGlobal PLC -11.3 AO Mosenergo -8.3

Northern Electric PLC -13.8 Federal Grid Company Of Unified Energ… -37.5

-22.9 -5.1 12.6 30.4 48.2 -47.8 -27.7 -7.6 12.4 32.5

Price / EPS TTM Price / Book Value 0.0 26.1 52.3 78.4 104.5 0.0 13.1 26.2 39.3 52.4

49.9 Tata Power Co Ltd 99.9 Societatea Energetica Electrica SA Federal Grid Company Of Unified Energ… 49.9 99.9 Drax Group PLC AO Mosenergo 15.4 15.2 Public Power Corp SA (Greece) 99.9 Tata Power Co Ltd Peer Group Average 12.8 63.0 ContourGlobal PLC ContourGlobal PLC 4.4 2.5 Peer Group Average 56.4 SSE PLC Drax Group PLC 1.5 15.6 Jersey Electricity PLC BKW AG 1.0 0.9 BKW AG 9.3 Jersey Electricity PLC Public Power Corp SA (Greece) 0.2 7.3 SSE PLC Northern Electric PLC 0.2 0.0 26.1 52.3 78.4 104.5 0.0 13.1 26.2 39.3 52.4

EPS 5-Year Growth Rate % Revenue 5-Year Growth Rate % -121.2 -79.9 -38.6 2.7 44.0 -31.1 -19.2 -7.3 4.6 16.6

ContourGlobal PLC 14.4 SSE PLC 36.5 Drax Group PLC 6.7 Federal Grid Company Of Unified Energ… 4.6 BKW AG 4.9 Jersey Electricity PLC 2.1 Northern Electric PLC 1.8 Jersey Electricity PLC 1.6 Societatea Energetica Electrica SA 1.7 AO Mosenergo 0.6 Peer Group Average -31.4 BKW AG 0.1 Peer Group Average -0.1 Drax Group PLC -100.0 Public Power Corp SA (Greece) -3.5 Tata Power Co Ltd -4.7 Public Power Corp SA (Greece) -100.0 SSE PLC -25.0 -121.2 -79.9 -38.6 2.7 44.0 -31.1 -19.2 -7.3 4.6 16.6

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021 Abbreviations: CAGR - Cumulative annual growth rate. EBIT - Earnings before interest and taxes. EBITDA - Earnings before interest, taxes, depreciation & amortization. LFY - Last fiscal year M - Million LON - London Stock Exchange

Definitions: Market Value - Weekly Price times latest Shares Outstanding times any applicable ADR factor. Revenue - Sum of the last four quarters of Revenues. Revenue Per Share - Sum of the last four quarters of Total Revenue divided by Weighted Average Shares Outstanding. Operating EPS LFY - EPS excluding non-recurring, non-operating items, fiscal year aligned TTM value. 60-Day Average Volume (000) - The average of the last 60 daily volume values in thousands of shares. Price 52-Week High - The high closing price from the last 52 weeks of daily closing prices. Price 52-Week Low - The low closing price from the last 52 weeks of daily closing prices. Price / 52-Week High - Latest price divided by the high price from the past 52 weeks of daily closing prices. Price / 52-Week Low - Latest price divided by the low price from the past 52 weeks of daily closing prices. 50-Day Average Price - Mean of last 50 daily closing prices. 200-Day Average Price - Mean of last 200 daily closing prices. Price / 50-Day Average Price - Latest closing price divided by mean of last 50 daily closing prices, as a percentage. Price / 200-Day Average Price - Latest closing price divided by mean of last 200 daily closing prices, as a percentage. Relative Strength Index - Relative Strength Index or RSI measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 - 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods. In this item, 14 days is used and one year of daily prices are considered. A value of 30 or below may imply oversold and 70 or above may imply overbought. Price Volatility - The standard deviation of the last 20 days of daily closing prices. Sharpe Ratio - The 5 year average of the excess monthly return over the risk - free rate(1 - month T - bill) over the 5 year standard deviation of the same series. Sortino Ratio - The same calculation as the Sharpe Ratio but with positive excess returns set to zero for the standard deviation denominator, so only negative volatility weighs in. Dividends Per Share TTM - Sum of the last four quarters of Dividends Per Share. Payout Ratio - Dividends Per Share TTM divided by Operating EPS TTM. Dividend Yield TTM % - Sum of the last four quarter of Dividends Per Share divided by Weekly Price. EBITDA - Sum of the last four quarters of EBITDA (Operating Income + Depreciation & Amortization). Free Cash Flow - Sum of the last four quarters Net Cash from Operations minus Capital Expenditures (Purchase of Property, Plant & Equipment), from the Cash Flow Statement. Book Value Per Share - Total Common Equity last quarter divided by Shares Outstanding last quarter. Gross Margin % - Sum of the last four quarters Gross Profit divided by the sum of the last four quarters Revenues. EBITDA Margin % - Sum of the last four quarters EBITDA divided by the sum of the last four quarters Revenues. Pre-Tax Margin % - Sum of the last four quarters of Earnings Before Taxes divided by sum of the last four quarters Revenues. Net Profit Margin % - Sum of the last four quarters of Operating EPS divided by sum of the last four quarters Revenues Per Share. Return on Equity % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Book Value. Return on Capital % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Capital Per Share. Return on Assets % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Assets Per Share. Price / EPS TTM - Weekly Price divided by the sum of the last four quarters of Operating EPS (capped at 99.9). Price / Sales - Weekly Price divided by Revenues Per Share TTM. Price / Book Value - Weekly Price divided by Book Value Per Share last quarter. Book Value Per Share is Total Common Equity last quarter divided by Shares Outstanding last quarter (capped at 49.9). Free Cash Flow Yield % - Free Cash Flow Per Share TTM divided by Weekly Price. Enterprise Value - Market Value plus Total Debt last year plus Preferred Equity last year minus Cash & Cash Equivalents last year. Enterprise Value / Sales - Enterprise Value divided by the sum of the last four quarters of Revenue. Enterprise Value / EBITDA - Enterprise Value divided by EBITDA TTM. Enterprise Value / EBIT - Enterprise Value divided by trailing four quarters of Operating Income. Enterprise Value / Free Cash Flow- Enterprise Value divided by the sum of the last four quarters of Free Cash Flow. Russell 1000 Index - The largest 1,000 stocks by market cap, the index comprehensively covers the US large cap universe. EPS 5-Year Growth Rate % is capped at 999.9%. Revenue 5-Year Growth Rate % is capped at 999.9%.

Utilities/Conventional Electricity Price: 1,600.00 GBX Report Date: September 29, 2021

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