Serco Regulatory News (SRP)

PDMR

Number of Shares subject to the Performance Award

Rupert Soames,

Group Chief Executive

1,173,384

Nigel Crossley,

Group Financial Controller

454,099

David Dacquino,

CEO Americas

381,382

David Eveleigh,

Group General Counsel & Company Secretary

234,073

Mark Irwin,

CEO UK & Europe

323,854

Anthony Kirby,

Group Chief Operating Officer

281,612

Philip Malem,

CEO Middle East

221,103

Kate Steadman,

Group Strategy & Communications Director

144,947

Peter Welling

CEO AsPac

 238,455

Performance

Measure

Weighting

Performance Target

Aggregate EPS

25%

Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 28.41p (threshold, 25% vesting) to 31.56p (target, 50% vesting) to 34.72p (maximum, 100% vesting), measured as an aggregate over the three-year performance period ending 31 December 2024.

Relative TSR

25%

Total Shareholder Return (TSR) of median (threshold, 25% vesting) to upper quartile (maximum, 100% vesting) when ranked relative to companies in the FTSE250 (excluding investment trusts), measured over the three-year performance period ending 31 December 2024.

Average ROIC

25%

Pre-tax Return on Invested Capital (ROIC) of 17.3% (threshold, 25% vesting) to 19.3% (target, 50% vesting) to 21.2% (maximum, 100% vesting), measured as an average over the three-year performance period ending 31 December 2024.

ESG Scorecard

15%

Employee engagement:

· Average annual Group employee engagement score over the three-year performance period at or above 70 for on target performance, and at or above 72 for maximum performance.

Improvement in colleague diversity:

· Performance will be assessed against a scorecard of factors relating to the improvement in colleague diversity. This will include reviewing progress on activities which support diversity, such as:

o commitment to diversity charters, where appropriate, such as the UK Race at Work charter, and progress shown against the commitments made;

o the continued implementation of policies to promote diversity in recruitment and candidate pools;

o wider and better targeted participation in learning and career development; and

o active management of a talent pipeline and progression within the organisation which will, in time, result in a more diverse leadership cadre.

· To track progress, the Committee will also review quantitative metrics such as the percentage of women and colleagues of diverse ethnic backgrounds, holding senior global leadership roles.

Improvement in our understanding, management and disclosure of Serco's environmental risks:

· Demonstrate significant improvements in environmental performance and management of environmental risks, through actions taken in line with our environmental strategy and improvements in externally issued environment/climate change ratings.

Order Book

10%

Book-to-bill ratio of 100% (target, 50% vesting) to 105% (maximum, 100% vesting) measured on a cumulative basis over the three-year performance period ending 31 December 2024.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Rupert Soames

2

Reason for the notification

a)

Position/status

Group Chief Executive

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

1,173,384

d)

Aggregated information

- Aggregated volume

1,173,384

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nigel Crossley

2

Reason for the notification

a)

Position/status

Group Financial Controller

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

454,099

d)

Aggregated information

- Aggregated volume

454,099

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Dacquino

2

Reason for the notification

a)

Position/status

CEO Americas

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

381,382

d)

Aggregated information

- Aggregated volume

381,382

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Eveleigh

2

Reason for the notification

a)

Position/status

Group General Counsel & Company Secretary

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

234,073

d)

Aggregated information

- Aggregated volume

234,073

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Irwin

2

Reason for the notification

a)

Position/status

CEO UK & Europe

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

323,854

d)

Aggregated information

- Aggregated volume

323,854

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Anthony Kirby

2

Reason for the notification

a)

Position/status

Group Chief Operating Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

281,612

d)

Aggregated information

- Aggregated volume

281,612

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Philip Malem

2

Reason for the notification

a)

Position/status

CEO Middle East

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

221,103

d)

Aggregated information

- Aggregated volume

221,103

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kate Steadman

2

Reason for the notification

a)

Position/status

Group Strategy & Communications Director

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

144,947

d)

Aggregated information

- Aggregated volume

144,947

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Welling

2

Reason for the notification

a)

Position/status

CEO AsPac

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Serco Group plc

b)

LEI

549300PT2CIHYN5GWJ21

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 2 pence each ("Ordinary Shares")

Identification code

ISIN: GB0007973794

b)

Nature of the transaction

The grant of conditional share awards on 6 April 2022 under the Serco Group plc 2019 Long-Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

238,455

d)

Aggregated information

- Aggregated volume

238,455

- Price

n/a

e)

Date of the transaction

6 April 2022

f)

Place of the transaction

n/a