Ricardo Plc Regulatory News (RCDO)

Ricardo PLC

Director / PDMR Shareholdings

18 November 2015

London

1. Purchase of shares

Ricardo PLC (the "Company") announces that on 17 November 2015, it received notification of the following transactions by Ian Lee, a non-executive director of the Company, and his spouse, Ann Lee:

· on 17 November 2015, Ian Lee purchased 92 ordinary shares of 25 pence each in the Company ("Shares") into his ISA at a price of £8.68875 per Share; and

· on 17 November 2015, Ann Lee purchased 93 Shares into her ISA at a price of £8.68875 per Share.

Both of these transactions reflect the automatic reinvestment in further Shares of dividends received into the respective ISAs referred to above pursuant to standing elections to do so.

2. 2006 Long Term Incentive Plan & 2011 Deferred bonus Plan - sale of Shares that vested on 16 November 2015

The Company also announces that on 18 November 2015, a total of 293,709 Shares were sold at a price of £8.5742 per Share on behalf of Executive Directors and other Persons Discharging Managerial Responsibilities ("PDMRs"). The Shares sold (details of which are set out below) had been acquired by the relevant individuals on 16 November 2015 pursuant to the vesting of awards originally granted under the terms of the Company's 2006 Long Term Incentive Plan and its 2011 Deferred Bonus Plan on 15 November 2012.

3. 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.