LAM.L Regulatory News (LAM)

14 August 2015

LAMPRELL PLC("Lamprell" or "Company" and with its subsidiaries the "Group")

DIRECTORATE CHANGES

Lamprell (ticker: LAM), a leading provider of diversified fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, announces the following changes to the Board and senior management of the Company.

Mr James Moffat has decided to retire effective 30 June 2016 and will stand down as Chief Executive Officer and as a Director on that date. A search to find his successor is under way and an announcement in this regard will be made in due course. Until June 2016, Mr Moffat will continue in his role as a Director and Chief Executive Officer allowing a smooth handover of his responsibilities. Thereafter, he has agreed to work with the Company on an exclusive consultancy basis providing advice and assistance to the Group for a period of up to one year.

Mr John Kennedy will take on the role of Executive Chairman for the Group until the next annual general meeting of the Company in 2016 as the Company refreshes its strategy in light of the current market environment. This will also facilitate the transition process from Mr Moffat to the incoming Chief Executive Officer, when appointed.

Mr Tony Wright has been promoted to the role of Chief Financial Officer and has been appointed as an Executive Director of the Board with immediate effect. Mr Wright has been in the role of Deputy Chief Financial Officer since October 2014, having joined the Group in 2013 and worked on its refinancing.

Lamprell is also pleased to announce the appointments of Mr Mel Fitzgerald and Ms Debra Valentine as Non-executive Directors of the Company. Mr Fitzgerald will join the Board with immediate effect and Ms Valentine will join the Board with effect from 1 September 2015. Biographical details for both Mr Fitzgerald and Ms Valentine are set out below.

Mr Michael Press has decided to resign as a Non-executive Director for personal reasons and the Board has agreed to his departure with immediate effect. Mr Press will be replaced in the role of Senior Independent Director by Mr Ellis Armstrong. The Board will revise the composition of the principal Board committees shortly.

Mr John Kennedy, Chairman, Lamprell, said:

"We are sorry to see Jim Moffat retire and will always be grateful for his significant contribution. Under his management, the Company has delivered impressive financial and operational performance, including record profits in 2014, and is in a much stronger position as a result. We have already commenced the search process to find a replacement CEO. On behalf of the Board I sincerely thank Jim for his efforts and significant achievements since joining in early 2013.

I am delighted to announce that Mr Mel Fitzgerald and Ms Debra Valentine have agreed to join as Non-executive Directors as this will strengthen the Board significantly. They both bring many years of experience in the global energy industry and their respective skills will complement the current expertise on the Board, thereby creating a balanced and high-performing Board with a strong combination of industry specific, financial and operational experience.

I am also pleased that Mr Tony Wright has been promoted to the role of Chief Financial Officer for the Company. During his time working in the Group he has had a very positive impact on the way that the business operates and the Board is keen to promote from within where possible.

Finally, I would like to thank Michael Press for his involvement in the Group over the past two years during which time we have seen Lamprell establish a strong financial platform and embark on the next phase of its strategy. Michael contributed significantly to that process and it is with regret that we see him leave the Company. The Board wishes him all the best for the future and welcomes Ellis Armstrong into the role of Senior Independent Director."

The interim results will be announced on 27 August 2015. The management will hold a presentation for research analysts at 12.30pm at Holborn Bars (138-142 Holborn, London EC1 2NQ).

In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Tony Wright other than as follows:

Current Directorships

• None

Previous Directorships (past 5 years)

• PAE Thailand plc

In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Mel Fitzgerald other than as follows:

Current Directorships

• None

Previous Directorships (past 5 years)

• Subsea 7 S.A.

In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Debra Valentine other than as follows:

Current Directorships

• None

Previous Directorships (past 5 years)

• None

- Ends -

Enquiries:

Mel Fitzgerald

Mel Fitzgerald has been in management roles within the energy industry for more than 30 years, with wide international experience covering operations and strategy all over the globe. Currently, Mr Fitzgerald acts as a director to a number of companies in the energy sector, notably in the role of Chairman for Suretank Group Limited (a company that manufactures tanks for the offshore oil and gas industry). Previously, Mr Fitzgerald served as the Chief Executive Officer and Board Director at Subsea 7 (a global contractor for the provision of seabed-to-surface engineering, construction and services to the offshore industry, listed on the Oslo Stock Exchange) for five years until 2012 including driving the strategy leading to the merger with Acergy SA in 2011. Mr Fitzgerald has a Bachelor of Engineering (Civil/Structural) from the University of Ireland and a Masters of Business Administration from the University of Kingston. He is also a chartered engineer.

Debra Valentine

Debra Valentine is a seasoned executive with extensive experience in heavy industry, having led government relations, governance, risk and legal functions across complex global jurisdictions. Her current role is Group executive, Legal & Regulatory Affairs for Rio Tinto, a leading FTSE100 global mining group, and she has been a member of Rio Tinto's Executive Committee since 2009, contributing to the development and execution of the group's strategy. She has significant expertise in competition and anti-trust issues and has been involved in a number of significant corporate transactions, including the successful defence of a hostile takeover. Ms Valentine previously worked at United Technologies Corporation and as a partner with the law firm O'Melveny & Myers, as well as serving as general counsel at the US Federal Trade Commission from 1997 until 2001. Ms Valentine has an AB magna cum laude from Princeton University and a JD from Yale University, and is a member of the District of Columbia bar.