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 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 Lancashire Holdings Limited 3. Name of the person 4. State whether notification relates to a discharging managerial person connected with a person responsibilities/director discharging managerial responsibilities/ director named in 3 and identify connected person Alex Maloney (Executive N/A Director and Group Chief Executive Officer ) 5. Indicate whether the 6. Description of shares (including class), notification is in respect of debentures or derivatives or financial a holding of the person instruments relating to shares referred to in 3 or 4 above or in respect of a non-beneficial interest Persons referred to at 3 above Lancashire Holdings Limited ("LHL") Restricted Share Scheme Award and LHL Restricted Share Scheme Awards Bonus Deferral Plan 7. Name of registered 8. State the nature of the transaction shareholder(s) and, if more than one, the number of shares held by each of them Exercise of 113,725 Restricted Share Awards granted as nil-cost options over common shares of US$0.50 each, of which Alex Maloney 93,583 were granted under the LHL Restricted Share Scheme and 20,142 were granted under the LHL Restricted Share Scheme Awards Bonus Deferral Plan and subsequent sale of 53,558 shares to cover tax liabilities 9. Number of shares, debentures 10. Percentage of issued class acquired or financial instruments (treasury shares of the class should not relating to shares acquired be taken into account when calculating percentage) 113,725 0.0575% 11. Number of shares, debentures 12. Percentage of issued class disposed or financial instruments (treasury shares of the class should not relating to shares disposed be taken into account when calculating percentage) 53,558 0.0271% 13. Price per share or value of 14. Date and place of transaction transaction 25 March 2015 - London, England £6.296077 per share 15. Total holding following 16. Date issuer informed of transaction notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 25 March 2015 382,008 common shares - Totalling 0.1932% (of which 100,000 shares belong to connected person Amanda Maloney) 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 grant 20. Description of shares or of the option debentures involved (class and number) 21. Exercise price (if fixed at time of 22. Total number of shares or grant) or indication that price is to debentures over which options be fixed at the time of exercise held following notification 23. Any additional information 24. Name of contact and telephone number for queries In addition to the securities noted in question 15 above, Alex Maloney also holds the following interests in the Company: Christopher Head + 44 (0) 207 264 4145 Restricted Share Scheme Awards Bonus Deferral Plan - 67,397 (vesting is subject to time and employment conditions only) Restricted Share Scheme Awards- 500,510* *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: Alex Maloney has sold only the number of shares required to cover tax liabilities and has retained the remainder of the resulting shares. Name of authorised official if issuer for making notification Christopher Head Company Secretary 26 March 2015