Cairn Homes Regulatory News (CRN)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Cairn Homes plc

LEI: 635400DPX6WP2KKDOA83

2. Reason for the notification (please tick the appropriate box or boxes):

[X] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments

[ ] An event changing the breakdown of voting rights

[ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name:

The Goldman Sachs Group, Inc.

City and country of registered office (if applicable):

Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, USA

4. Full name of shareholder(s) (if different from 3.)v: Goldman Sachs International

5. Date on which the threshold was crossed or reachedvi: 22/11/2019

6. Date on which issuer notified: 26/11/2019

7. Threshold(s) that is/are crossed or reached: Below 7%

8. Total positions of person(s) subject to the notification obligation:

% of voting rights attached to shares (total of 9.A)

% of voting rights through financial instruments(total of 9.B.1 + 9.B.2)

Total of both in % (9.A + 9.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

6.98%

0.19%

7.17%

776,045,754

Position of previous notification (if applicable)

7.01%

0.20%

7.21%

9. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

Indirect

Direct

Indirect

IE00BWY4ZF18

54,168,950

6.98%

SUBTOTAL A

54,168,950

6.98%

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

Securities Lending

Open

640,246

0.08%

SUBTOTAL B.1

640,246

0.08%

B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash settlementxii

Number of voting rights

% of voting rights

CFD

19/11/2029

Cash

376,795

0.05%

CFD

06/05/2027

Cash

196,907

0.03%

CFD

18/01/2029

Cash

187,964

0.02%

Swap

01/10/2024

Cash

24,977

0.003%

Swap

01/10/2024

Cash

20,314

0.003%

Swap

01/10/2024

Cash

19,480

0.003%

CFD

27/02/2023

Cash

17,406

0.002%

CFD

07/11/2029

Cash

9,658

0.001%

Swap

01/10/2024

Cash

6,290

0.001%

CFD

11/05/2028

Cash

4,278

0.001%

Swap

02/10/2020

Cash

243

0.00003%

SUBTOTAL B.2

864,312

0.11%

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X] Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

The Goldman Sachs Group, Inc.

Goldman Sachs (UK) L.L.C.

Goldman Sachs Group UK Limited

Goldman Sachs International

6.98%

7.15%

The Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC

The Goldman Sachs Group, Inc.

GSAM Holdings LLC

Goldman Sachs Asset Management, L.P.

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional informationxvi:

Please note, the total amount of voting rights have been rounded to 2 decimal places therefore there is a possibility of a rounding error.

General email contact:

gs-regops-emea-position-enquiries@gs.com