Just Group Regulatory News (JUST)

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

JUST GROUP PLC

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

An acquisition or disposal of voting rights

ü

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

CINVEN LIMITED

CINVEN S.A.

4. Full name of shareholder(s)  (if different from 3.):iv

FOURTH CINVEN FUND (NO. 1) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (NO. 2) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (NO. 3 - VCOC) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (NO. 4) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (UBTI) LIMITED PARTNERSHIP

FOURTH CINVEN FUND CO-INVESTMENT PARTNERSHIP

FOURTH CINVEN (MACIF) LIMITED PARTNERSHIP

FOURTH CINVEN FUND FCPR

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

28 September 2017

6. Date on which issuer notified:

28 September 2017

7. Threshold(s) that is/are crossed orreached: vi, vii

BELOW 15%, 14%, 13%, 12%, 11%, 10%, 9%, 8%, 7%, 6%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

ORDINARY

GB00BCRX1J15

FOURTH CINVEN FUND (NO. 1) LIMITED PARTNERSHIP

28,369,904

28,369,904

10,108,459

10,108,459

N/A

1.08%

N/A

FOURTH CINVEN FUND (NO. 2) LIMITED PARTNERSHIP

29,601,309

29,601,309

10,547,221

10,547,221

N/A

1.13%

N/A

FOURTH CINVEN FUND (NO. 3 - VCOC) LIMITED PARTNERSHIP

29,348,441

29,348,441

10,457,121

10,457,121

N/A

1.12%

N/A

FOURTH CINVEN FUND (NO. 4) LIMITED PARTNERSHIP

28,008,435

28,008,435

9,979,665

9,979,665

N/A

1.07%

N/A

FOURTH CINVEN FUND (UBTI) LIMITED PARTNERSHIP

15,757,230

15,757,230

5,614,447

5,614,447

N/A

0.60%

N/A

FOURTH CINVEN FUND CO-INVESTMENT PARTNERSHIP

1,426,413

1,426,413

508,244

508,244

N/A

0.05%

N/A

FOURTH CINVEN (MACIF) LIMITED PARTNERSHIP

408,181

408,181

145,439

145,439

N/A

0.02%

N/A

FOURTH CINVEN FUND FCPR

11,559,407

11,559,407

4,118,724

4,118,724

N/A

0.44%

N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

51,479,320

5.51%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Cinven Limited acts as manager for the following entities:

FOURTH CINVEN FUND (NO. 1) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (NO. 2) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (NO. 3 - VCOC) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (NO. 4) LIMITED PARTNERSHIP

FOURTH CINVEN FUND (UBTI) LIMITED PARTNERSHIP

FOURTH CINVEN (MACIF) LIMITED,

together the "Cinven Funds".

The Cinven Funds and the FOURTH CINVEN FUND CO-INVESTMENT PARTNERSHIP are party to an agreement whereby Fourth Cinven Fund Co-Investment Partnership acts in accordance with the actions of the Cinven Funds, meaning that Cinven Limited also effectively controls Fourth Cinven Fund Co-Investment Partnership.

Cinven S.A. acts as manager of FOURTH CINVEN FUND FCPR.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

This disclosure has been calculated based on issued share capital of 934,299,547 shares as disclosed by Just Group plc in its announcement of 31 August 2017.

14. Contact name:

Peter Moore, Compliance Manager, Cinven

Partners LLP

(Cinven Partners LLP is an adviser to the entities

subject to the notification obligation)

15. Contact telephone number:

020 7667 3264