Millennium & Copthorne Hotels Regulatory News (MLC)

For Immediate Release 27 June 2018

MILLENNIUM & COPTHORNE HOTELS PLC

LEI: 2138003EQ104LZ1JNH19

NOTIFICATION OF TRANSACTION OF DIRECTOR/PDMR

Millennium & Copthorne Hotels plc (the "Company") announces that on 27 June 2018, the Company's new Group Chief Executive Officer, Jennifer Fox, was granted a conditional share award (the "Award") in respect of 178,299 ordinary shares of 30 pence each in the Company ("Ordinary Shares") pursuant to the Millennium & Copthorne Hotels plc 2016 Long Term Incentive Plan (the "LTIP").

The value of the Award is £937,496, which represents approximately 150% of Ms Fox's base annual salary in line with the Company's Remuneration Policy. The Award will have a three-year performance period, with vesting to occur on the third anniversary of the grant date, followed by a two-year post-vesting holding period.

Performance conditions

The Company's Remuneration Committee has reviewed the performance conditions to be associated with the Award and has agreed that the following will apply: cumulative earnings per share ("EPS"), annualised growth of revenue per available room measured on a like-for-like and constant currency basis ("RevPAR") and total shareholder return ("TSR") as measured against a comparator group comprising companies in the FTSE 250 index, excluding investment trusts. The weightings to be applied to the performance conditions are 60% to EPS, 20% to RevPAR and 20% to TSR.

The Remuneration Committee believes that these performance conditions align management incentives with delivering the Group's long term business strategy. The Remuneration Committee further believes that the targets applicable to the conditions, which are set out below, are appropriately stretching and represent a level of difficulty comparable to those applied historically.

Notes:

1. The number of Ordinary Shares that will vest after the three-year performance period, from 1 January 2018 through 31 December 2020, will depend on the extent to which the targets are achieved and will remain subject to the rules of the LTIP. Any Ordinary Shares that vest on 27 June 2021 will be subject to an additional two-year holding period ending on 27 June 2023.

2. Vesting levels between threshold and maximum will be assessed on a straight-line basis.

3. No consideration was paid for the grant of the award and no payment is due from the grantee on the vesting and exercise of the Award.

4. The price used to calculate the number of LTIP shares awarded was £5.258, being the average of the mid-market closing price of the Company's ordinary shares on the five dealing days immediately preceding 27 June 2018.This announcement is made in accordance with the requirements of the EU Market Abuse Regulation Article 19.