Annual Report and Accounts 2020

06 April 2021

Investor and Analysts

Media Relations

Further to the release of the Company's preliminary results announcement on 25 February 2021, the Company announces that it has today, 6 April 2021, published its Annual Report and Accounts 2020 (Annual Report 2020).

The Company also announces that today, it has published on its website, and posted hard copies to shareholders who have requested them, the Notice of Annual General Meeting to be held at 11.00am on Monday 10 May 2021 at Centrica plc, Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD.

Given current UK Government restrictions, and our commitment to shareholder and employee safety, we will be unable to admit shareholders to the AGM in person. Shareholders are encouraged to exercise their votes by submitting their proxy forms either electronically or by post and to make use of the electronic facilities available to submit questions and to participate in the AGM remotely. Full details are set out within the Notice of Annual General Meeting.

In accordance with Listing Rule 9.6.1, copies of the following documents have been submitted to the Financial Conduct Authority and will shortly be available for inspection from the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism:

Annual Report 2020;
Notice of Annual General Meeting 2021; and
Proxy Form for the 2021 Annual General Meeting.

The above documents are also available at www.centrica.com/ar20 and www.centrica.com/agm21

This information should be read in conjunction with the Company’s preliminary results announcement. A condensed set of the Company’s financial statements and information on important events that have occurred during the financial year and their impact on the financial statements, were included in the preliminary results announcement released on 25 February 2021. That information, together with the information set out below, which is extracted from the Annual Report 2020, is provided in accordance with the Disclosure and Transparency Rule (DTR) 6.3.5R, which requires it to be communicated to the media in full unedited text through a Regulatory Information Service. This announcement is not a substitute for reading the full Annual Report 2020. Page and note references in the text below refer to page numbers and note numbers in the Annual Report 2020.

Our Principal Risks and Uncertainties

We manage risks to support our Group strategy

COVID-19 has posed significant challenges to the risk management and resilience of businesses across the globe. Centrica has a robust approach to risk management which enabled a rapid mobilisation of resources to react and mitigate the potential impacts of the pandemic. In the following pages, we set out an overview of Centrica’s risk management framework, highlighting changes adopted in 2020 and the Principal Risks at the year end. Our Principal Risks remain linked to our Group Priorities and the Group’s risk appetite is expressed in relation to our four categories of risk: Strategic, Operational, Financial and Compliance.

Strengthening risk management and internal control

Centrica’s Group Enterprise Risk and Internal Controls Framework remains a core element of our Governance Model which is set out below. During 2020, in light of changes to the organisational structure and operating model, the Risk Oversight process has been adjusted. The updated model is set out in the Risk Framework section below. The Group Core Principles and Framework and Governance structures remain unchanged. As part of this review, the Group Enterprise Risk team, working with the Centrica Leadership Team, conducted a full review of Group Principal Risks. An updated set of the most significant Principal Risks to the Group are set out on pages 36 to 39.