ESL.L Regulatory News (ESL)

(a) Full name of discloser:

DBAY Advisors Limited

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

Use a separate form for each offeror/offeree

OFFEREE - Eddie Stobart Logistics plc

(d) Is the discloser the offeror or the offeree?

OFFEROR

(e) Date position held:

The latest practicable date prior to the disclosure

19 September 2019

(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

If it is a cash offer or possible cash offer, state "N/A"

N/A

Class of relevant security:

Ordinary

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled in aggregate:

40,654,300

10.72

Nil

Nil

(2) Cash-settled derivatives:

Nil

Nil

Nil

Nil

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

Nil

Nil

Nil

Nil

TOTAL:

40,654,300

10.72

Nil

Nil

Class of relevant security in relation to which subscription right exists:

Nil

Details, including nature of the rights concerned and relevant percentages:

Nil

Details of any interests, short positions and rights to subscribe (including directors' and other employee options) of any person acting in concert with the party to the offer making the disclosure:

Class of relevant securities:

Ordinary

Name of Ultimate Beneficial Owner

Number of shares held

% (to 2 d.p.)

Alex Paiusco

2,863,350

0.75

Colin Kingsnorth

1,342,195

0.35

Andrew Pegge

1,342,195

0.35

Saki Riffner

1,118,496

0.29

Mike Branigan

894,797

0.24

Mike Haxby

357,918

0.09

Peter Nixon

223,699

0.06

William Stobart

2,489,844

0.66

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the party to the offer making the disclosure or any person acting in concert with it:

Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"

None

Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer making the disclosure, or any person acting in concert with it, and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none"

None

Supplemental Form 8 (Open Positions)

NO

Supplemental Form 8 (SBL)

NO

20 September 2019

Mike Haxby

01624 690906