Lancashire Holdings Regulatory News (LRE)

Notification of Transactions of Directors/Persons Discharging ManagerialResponsibility and Connected Persons 1. Name of the issuer 2. State whether the notification related to (i) a transaction Lancashire Holdings Limited notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006) (i) a transaction notified in accordance with DTR 3.1.2 R 3. Name of the person discharging 4. State whether notification managerial responsibilities/ relates to a person connected director with a person discharging managerial responsibilities/ (1) Alex Maloney (Executive director named in 3 and identify Director and Group Chief connected person Officer) N/A (2) Elaine Whelan (Executive Director and Group Chief Financial Officer) 5. Indicate whether the notification 6. Description of shares (including is in respect of a holding of the class), debentures or derivatives person referred to in 3 or 4 or financial instruments relating above or in respect of a to shares non-beneficial interest 1. Lancashire Holdings Limited Persons referred to at 3 above ("LHL") Restricted Share Scheme Award and LHL Restricted Share Scheme Awards Bonus Deferral Plan 2. Lancashire Holdings Limited ("LHL")Restricted Share Scheme Award and LHL Restricted Share Scheme Awards Bonus Deferral Plan 7. Name of registered shareholder(s) 8. State the nature of the and, if more than one, the number transaction of shares held by each of them 1. Exercise of 246,530 1. Alex Maloney Restricted Share Awards 2. Elaine Whelan granted as nil-cost options over common shares of US$0.50 each, of which 236,198 were granted under the LHL Restricted Share Scheme and 10,332 were granted under the LHL Restricted Share Scheme Awards Bonus Deferral Plan and subsequent sale of 116,104 shares to cover tax liabilities 2. Exercise of 142,677 Restricted Share Awards granted as nil-cost options over common shares of US$0.50 each, of which 126,894 were granted under the LHL Restricted Share Scheme and 15,783 were granted under the LHL Restricted Share Scheme Awards Bonus Deferral Plan and subsequent sale of 3,082 shares to cover tax liabilities 9. Number of shares, debentures or 10. Percentage of issued class financial instruments relating to acquired (treasury shares of the shares acquired class should not be taken into account when calculating (1) 246,530 percentage) (2) 142,677 (1) 0.1343% (2) 0.0777% 11. Number of shares, debentures or 12. Percentage of issued class financial instruments relating to disposed (treasury shares of the shares disposed class should not be taken into account when calculating (1) 116,104 percentage) (2) 3,082 1. 0.0633% 2. 0.0017% 13. Price per share or value of 14. Date and place of transaction transaction 1. 7 May 2014 - London, England 1. £6.677371 per share 2. 7 May 2014 - London, England (2) £6.677371 per share 15. Total holding following 16. Date issuer informed of notification and total percentage transaction holding following notification (any treasury shares should not 8 May 2014 be taken into account when calculating percentage) 1. 321,841 common shares - Totalling 0.1754% (of which 100,000 shares belong to connected person Amanda Maloney) 2. 233,820 common shares - Totalling 0.1274% (of which 2,600 shares belong to connected person Kilian Whelan) If a person discharging managerial responsibilities has been granted options bythe issuer complete the following boxes 17. Date of grant 18. Period during which or date on which exercisable 19. Total amount paid (if any) for 20. Description of shares or grant of the option debentures involved (class and number) 21. Exercise price (if fixed at time 22. Total number of shares or of grant) or indication that debentures over which options price is to be fixed at the time held following notification of exercise 23. Any additional information 24. Name of contact and telephone number for queries In addition to the securities noted in question 15 above, Alex Christopher Head + 44 (0) 207 Maloney also holds the following 264 4145 interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan - 45,610 (vesting is subject to time and employment conditions only) Restricted Share Scheme Awards- 443,467* In addition to the securities noted in question 15 above, Elaine Whelan also holds the following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan - 39,195 (vesting is subject to time and employment conditions only) Restricted Share Scheme Awards- 292,662* *Pursuant to the Rules of the Restricted Share Scheme, the number of shares that will actually vest depends on the satisfaction of certain conditions including employment, performance and time conditions. N.B: Elaine Whelan and Alex Maloney have sold only the number of shares required to cover tax liabilities and have retained the remainder of the resulting shares. Name of authorised official if issuer for making notification Christopher HeadCompany Secretary 9 May 2014