Ricardo Regulatory News (RCDO)

Ricardo PLC

Director / PDMR Shareholdings

1. 2006 Long Term Incentive Plan - vesting of plan cycle 3

Ricardo PLC (the "Company") announces that on 15 November 2012, a total of 101,217 ordinary shares of 25 pence each in the Company ("Shares") vested in favour of Executive Directors and other Persons Discharging Managerial Responsibilities ("PDMRs") under the terms of the Company's 2006 Long Term Incentive Plan (the "Plan"). This vesting, details of which are provided below, related to awards that were granted under the Plan on 21 October 2009 and was subject to the satisfaction of both EPS and TSR performance conditions. Ordinarily, these awards would have vested on the third anniversary of the date of award in October 2012. However, such vesting was delayed due to the recent prohibited period (which expired on 8 November 2012) arising from the Company's acquisition of the business, operating assets and employees engaged in the business of AEA Technology Plc, a subsidiary of AEA Technology Group plc.

Following the vesting, a total of 59,621 of the above Shares were sold at a price of £3.5868 per Share on behalf of the Executive Directors and other PDMRs on 16 November 2012. Details of these sales are set out below:

2. Net current total holdings of Shares

Following the above notifications, the total holdings of Shares of the relevant Executive Directors and other PDMRs are as follows:

The above notifications are intended to satisfy the Company's obligations under Disclosure and Transparency Rule ("DTR") 3.1.4R.