Direct Line Regulatory News (DLG)

Direct Line Insurance Group plc

9 March 2022

DIRECT LINE INSURANCE GROUP PLC

NOTIFICATION OF SHARE REPURCHASE PROGRAMME

As announced on 8 March 2022, Direct Line Insurance Group plc ("DLG") is commencing a share repurchase programme of DLG's ordinary shares of 10 10/11p each (the "Ordinary Shares") up to a maximum consideration of £100 million (the "Programme") which is expected to be completed during 2022. The Programme will be carried out in two tranches and its purpose is to reduce the share capital of DLG.

The first tranche of the Programme will be carried out through a non-discretionary mandate DLG has entered into with Morgan Stanley & Co. International Plc ("Morgan Stanley") in relation to the purchase by Morgan Stanley, acting as principal, during the period commencing on 9 March 2022 and expected to end by 18 July 2022 (and in any event by no later than 25 July 2022), of Ordinary Shares for an aggregate purchase price of no greater than £50 million and the simultaneous on-sale of such Ordinary Shares by Morgan Stanley to DLG. Morgan Stanley will make its trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, DLG. The maximum number of Ordinary Shares that can be repurchased under the first tranche of the Programme is 113,710,836 (being the number of Ordinary Shares DLG is authorised to purchase pursuant to the authority granted by shareholders at DLG's 2021 annual general meeting (the "AGM") less the number of Ordinary Shares purchased on or after the date of the AGM).

Any purchase of Ordinary Shares under the first tranche of the Programme will be carried out on the London Stock Exchange and other recognised investment exchanges, in accordance with DLG's general authority to make market purchases of Ordinary Shares, Chapter 12 of the Listing Rules, Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018), and Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).

DLG will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. To the extent permitted by law, Ordinary Shares purchased under the first tranche of the Programme will be cancelled.

For further information, please contact:

Paul Smith

Director of Investor Relations

Tel: +44 (0) 7794 811 263

Will Sherlock

Group Corporate Affairs and Sustainability Director

Tel: +44 (0) 7786836562

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

LEI: 213800FF2R23ALJQOP04