easyJet Regulatory News (EZJ)

easyJet plc ("the Company")

Director/PDMR shareholding

24 December 2014

The following amendments have been made to the 'Director/PDMR shareholding' announcement released on 22 December 2014 at 09.48 under RNS No 4355A.

This arose due to an administrative error in the calculation of the original awards. All other details remain unchanged.

The Company announces that on 19 December 2014, the following Executive Directors and PDMRs, as set out against their names in the tables below, were conditionally awarded, purchased, or had a proportion of their annual bonus deferred into, shares under the Company's Long Term Incentive Plan (LTIP) and Deferred Annual Bonus Plan (DABP), as applicable.

The share price at the time of the grants and the Investment Share purchase was £16.44.

The LTIP Performance Shares Awards (and Matching Share Awards set out in Table 2) will vest in three years' time, free of charge, on 19 December 2017, subject to continued employment and the performance conditions shown below:

Awards vest on a straight-line basis between these points.

The Return on Capital Employed (ROCE) targets are based on average ROCE (including operating lease adjustments) over the three year performance period (being three years from 1 October 2014).

The Total Shareholder Return (TSR) targets are based on relative TSR compared to companies ranked FTSE 31 to 130 at the date of grant, where the average share price is calculated over three months at the start and end of the period. In addition, in order for the TSR-based awards to vest, easyJet must have achieved positive absolute TSR performance over the performance period.

Table 2 below sets out the shares corresponding to the mandatory deferral of annual bonus under the DABP, and the purchase of Investment Shares under the LTIP, together with the LTIP Matching Share Awards corresponding to the Investment Shares. The LTIP Investment Shares and DABP Shares below are already included in, and are not in addition to, the bonus figures disclosed in the Annual report and accounts. The Matching Share Awards are subject to the performance conditions outlined above.

The proportion of the annual bonus under the DABP is deferred for three years until 19 December 2017, will be subject to forfeiture and will not be subject to any further matching.

The Investment Shares were purchased by Executive Directors and PDMRs shown above, from their (post tax) voluntary deferral into shares. The Matching Share Awards are over the same amount of deferral, but pre-tax. As stated in the Company's Annual report and accounts, this will be the final year in which the Matching Share Award will operate for the Executive Directors.

Further details relating to the operation of the LTIP and DABP can be found within the Annual report and accounts which are available on the Company's website.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.4R.

For further details, please contact: