Next Regulatory News (NXT)

Maximum No. of Shares

Lord Wolfson of Aspley Guise

15,194

Amanda James

9,252

Richard Papp

8,969

Jane Shields

8,969

Jeremy Stakol

8,031

·

the award will vest following the third anniversary of the date of grant subject to performance targets and continued employment in the NEXT Group;

·

a variable percentage of the maximum number of shares above can vest, depending on the relative Total Shareholder Return of NEXT over a three year period against a comparator group;

·

for relative performance against the comparator group the percentage vesting will be:

Relative performance

Percentage vesting

Below median

0%

Median

20%

Upper quintile

100%

·

the Remuneration Committee has discretion to override and reduce formulaic outcomes under the LTIP awards should this be considered appropriate in the circumstances;

·

before any of the awards vest, the Committee must have regard to the underlying financial performance of the Company;

·

to the extent that the performance condition is not met, the award will lapse completely;

·

to the extent that awards vest, dividend equivalents will be accrued; and

·

any vesting of these awards granted to executive directors (including dividend equivalents) will be settled in shares and, after payment of tax, the net shares received should be retained for a period of two further years.

1

Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")

a)

Name

1. Lord Wolfson of Aspley Guise

2. Amanda James

3. Richard Papp

4. Jane Shields

5. Jeremy Stakol

2

Reason for the notification

a)

Position/status

1. Chief Executive (PDMR)

2. Group Finance Director (PDMR)

3. Group Merchandise and Operations Director (PDMR)

4. Group Sales, Marketing and HR Director (PDMR)

5. Group Investments, Acquisitions and Third Party Brands Director (PDMR)

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Next plc

b)

LEI

213800WQD8ECPZP9PH98

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of £0.10 each - conditional award

Identification code

GB0032089863

b)

Nature of the transaction

Conditional award granted of shares under the LTIP. Maximum number of shares as follows:

1. Lord Wolfson of Aspley Guise - 15,194

2. Amanda James - 9,252

3. Richard Papp - 8,969

4. Jane Shields - 8,969

5. Jeremy Stakol - 8,031

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Lord Wolfson of Aspley Guise

Nil

15,194

Amanda James

Nil

9,252

Richard Papp

Nil

8,969

Jane Shields

Nil

8,969

Jeremy Stakol

Nil

8,031

d)

Aggregated information

- Aggregated volume

n/a single transactions

- Price

e)

Date of the transaction

22 September 2023

f)

Place of the transaction

Outside a trading venue