No. The total monthly contribution to all Sharesave Schemes is restricted to £500 per person per month. If you are already currently saving £500 a month across all of your Sharesave contract(s), this means that you will not be able to join the 2024 scheme unless you have a scheme maturing in 2024 (and haven’t missed any payments).

No, you cannot increase or decrease your chosen savings amount once the invitation period has closed. We want you to stay saving with us, so it is important to choose an amount you can comfortably afford.

Providing you complete the contract you will receive a bonus on your savings. If you choose to save for three years, a tax-free bonus of 1.1 multiplied by your monthly contribution will be added to your savings. If you choose to save for five years, a tax-free bonus of 3.2 multiplied by your monthly contribution will be added to your savings.

If repayment is made during the first year, your savings will be repaid without interest. If repayment is made on or after the first anniversary of the starting date and at least 12 monthly contributions have been paid, tax-free simple interest will be payable at 1.42%.

No. The rate is fixed at invitation and returns are guaranteed. However, future invitations may be offered on different terms.

Your monthly savings amount is deducted from your salary once the usual statutory deductions such as PAYE and National Insurance Contributions have been deducted. This means that the money in your ‘savings account’ is free from any further Income Tax deductions. However, you may have to pay Capital Gains Tax (“CGT”) if you sell your shares and make a profit which takes you above the CGT exemption limit for that tax year (the limit for 2024/2025 is £3,000).

Capital Gains Tax is a tax on the profit or gain you make when you sell or ‘dispose of’ an asset, such as shares or property. You usually dispose of an asset when you cease to own it – for example if you sell it, give it away or transfer it to someone else.

You may suspend your monthly payments for up to a maximum of 12 months during the savings period by contacting the People Support team on 0121 498 5000 then selecting option 2. If this happens, the maturity of your Sharesave contract will be delayed by one month for each missed month’s payment. If you miss more than 12 payments your account will close, you will lose your right to buy shares and your savings, plus any interest, will be returned to you. By suspending payments, this may affect the extent to which you can enter into a new savings contract.

Sharesave Schemes currently allow you to contribute a maximum of £500 per month. If you start a Sharesave contract and then cancel it before the maturity date, the amount of that cancelled monthly contribution will count towards your maximum, until the maturity date of the cancelled option is reached.

For example, if you joined the 2023 Sharesave 3 year plan and invested £250 per period and then subsequently cancel that plan you still will only be able to invest a maximum of £250 into any future plans until 2026, the date that the plan will mature.

Your savings, which are held with Lloyds Bank plc, are your own and are covered by the Financial Services Compensation Scheme (“FSCS”). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For further information about the scheme refer to the FSCS website www.fscs.org.uk or call the FSCS on telephone number +44 (0)207 741 4100 or 0800 678 1100.

Alternatively, log onto www.lloydsbank.com for further information about the compensation scheme.

You will be provided with further information to help you make your decision. You will be able to use your savings and bonus to buy Mitchells & Butlers plc shares at the option price, within 6 months of the maturity of your savings contract. You can then sell, keep or even transfer them to someone else. You could also choose to request the return of your savings.

Whatever reason you leave employment, Equiniti will contact you within 8 weeks of the date you leave.

If you leave the Company by reason of retirement*, injury*, disability*, redundancy or sale of the business or company employing you, you will normally be able to continue to save for 6 months and use your savings, plus any interest or bonus, to buy shares in Mitchells & Butlers plc at the option price within that period.

If you die, your personal representatives will be able to use your savings, plus any interest or bonus, to buy shares in Mitchells & Butlers plc for up to one year after your death if you die before the maturity date, or for up to one year after the maturity date if you die on or within 6 months of the maturity date.

If you leave the Company for any other reason, you will normally lose your option to buy Mitchells & Butlers plc shares at the option price. However in all leaver situations you may choose either to withdraw your savings, plus any interest, or except in the case of death, continue to save for the duration of your contract and receive your tax-free bonus.

*These reasons must either fall within the Company’s policy on retirement, injury or disability or be agreed in advance with the Company.

Sharesave deductions occur 12 times per year, with Mitchells & Butlers paying 4 weekly there is a suspension period each year. For most Sharesave schemes this will occur in your August pay, however if you are part of the 2023 Sharesave scheme your suspension period will be in September.

We have provided a scheme comparison to help you decide which scheme is best for you