Phoenix Group Holdings Regulatory News (PHNX)

Phoenix Group Holdings (the 'Company') - Board Changes

As previously reported in the Company's Annual Report for 2016 and the notice for the Company's Annual General Meeting held today ("the AGM"), Isabel Hudson and David Woods have left the Board with effect from today, having decided not to seek re-election at the AGM.

In accordance with paragraph 9.6.11 of the Financial Conduct Authority's Listing Rules, the Company announces the following Board Committee changes:

· With effect from today, Kory Sorenson succeeds Ian Cormack as Remuneration Committee Chair. Ian Cormack remains on the Board as Senior Independent Director.

· With effect from today, John Pollock succeeds David Woods as Risk Committee Chair.

Henry Staunton, Chairman of Phoenix Group Holdings, said:

"Isabel and David leave Phoenix with our very best wishes after over seven years of excellent service on the Board. Ian Cormack has chaired our Remuneration Committee for over seven years with tremendous diligence and expertise. I am very pleased that he remains on the Board as Senior Independent Director and a member of the Nomination Committee. Our succession plan is working to good effect with Kory Sorenson and John Pollock assuming the Remuneration and Risk Committee Chair positions respectively. Kory has been a member of the Remuneration Committee since joining the Board in July 2014, and John has substantial risk management experience from his executive career at Legal and General where he was a main Board Director for twelve years up to his retirement in 2015."

No loss of office payments have been or will be paid to either Isabel Hudson or David Woods who will receive their contractual non-executive director's fees up to 11 May 2017, being the date of their resignation from the Board.

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