Joint Venture Formed

National Grid IFA 2 Limited (NGIFA2), the UK joint-venture vehicle through which National Grid holds its 50 percent interest in the IFA2 GB–France interconnector, was incorporated as a private limited company on 14 July 2014 under Companies House number 09129992 with a registered office at 1-3 Strand, London. NGIFA2 partners with RTE (the French TSO) which holds the matching 50 percent interest through the IFA2 SAS / RTE side of the project, and is the licensed entity to which Ofgem's cap-and-floor regulatory regime applies. The incorporation predates the Ofgem Initial Project Assessment by roughly a year (cap-and-floor granted in principle July 2015) and the Final Investment Decision in FY2016/17, establishing the corporate structure used for procurement, financing and the subsequent revenue regime. The company has remained active throughout development, construction, commissioning (commercial operations 22 January 2021) and the operational phase, including the Post Construction Review concluded by Ofgem in 2022. The SIC code 35120 — transmission of electricity — reflects its role as the GB-side asset owner.