Naked Wine Regulatory News (WINE)

For Immediate Release 15 June 2017

Majestic Wine PLC

("Majestic")

Board Changes

Majestic Wine today announces the following Board changes;

Phil Wrigley has informed the Board that he will retire as Chairman and step down from the Board at the AGM in August 2017.

Greg Hodder, who was appointed Non-Executive Director on 1 October 2015, will be appointed as Chairman-Designate with immediate effect, formally taking over as Chairman at the conclusion of the AGM.

Ian Harding, who was appointed Non-Executive Director on 1 June 2013, will be appointed Senior Independent Director with immediate effect. Ian will remain Chair of the Audit Committee.

An external search process is now underway to appoint an additional Non-Executive Director to add further experience to the Board.

Rowan Gormley, Chief Executive commented:

"Phil has made a tremendous contribution to the future of Majestic, through his wisdom, decades of retailing experience and wicked sense of humour. He will be sorely missed. We wish him a very happy and well deserved retirement.

Greg's extensive retailing and ecommerce experience, along with his first-hand knowledge of the wine market and the USA, our biggest growth market, make him the ideal person to take over from Phil at this stage of the transformation plan.

Ian Harding has retail and corporate governance experience from his time auditing and working in FTSE 100 companies and the gravitas to fulfil the role of Senior Non-Executive Director. He has been heavily involved in developing and communicating the transformation plan from the start.

We are 18 months into our transformation and are moving out of the "test and learn phase" of the plan and into the "roll out" phase. This means we need to recognise Directors with the skills that can support this next stage. We've got a strong mix of skills on our Board which will support the Group as we move from a turnaround to a growth Company."

Phil Wrigley, Chairman said:

 "Greg has made a huge contribution in the Board room since joining two years ago and it is clear to us all that he is an excellent fit as Chairman. He has a unique combination of experience and leadership skills that are a perfect fit for Majestic's transformation.

The Board are well positioned to take the Group to the next stage of the transformation plan and I believe it is right time for a new Chairman to oversee its full delivery. It has been a privilege to be a part of such an important time in Majestic's history."

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About the directors:

Phil Wrigley joined Majestic as Chairman in 2010. During his tenure the business has undergone a significant transformation from a largely UK store based retailer to an international business with significant and fast growing ecommerce operations in the USA, UK and Australia. Under his leadership Naked Wines was acquired in 2015 and the Board significantly strengthened with the necessary retailing, strategic and governance skills to lead the successful completion of the transformation plan.

Greg Hodder joined Majestic as Non-Executive Director in 2015. Greg has worked in retail for 30 years including nine years as CEO of Charles Tyrwhitt Shirts Ltd, 14 years as CEO of Direct Wines (owner of Laithwaites) and four years as President for Smallbone USA, the kitchen and home designer.

Ian Harding joined Majestic as Non-Executive Director and Chairman of the Audit Committee in 2013. He is a Chartered Accountant and spent 16 years in various finance and auditing roles at PwC, Superdrug PLC and Kingfisher PLC. In 2001 he became Kingfisher's Investor Relations Director and went on to hold several senior roles on the executive committee including Communications Director and latterly Special Advisor to the Board.

About Majestic Wine PLC:

Majestic Wine PLC is a leading wine specialist, operating in four separate divisions, each with the fundamental goal of delivering sustained growth in shareholder value by doing the right thing for the Group's customers, suppliers and people:

•Majestic Retail - The UK's largest specialist wine retailer, with 210 branches in the UK and two in France. We help people find the wines they will love through over 900 highly trained, specialist store team members. Sales for the year ended 3 April 2017 were £262.2m.

•Naked Wines - Funds independent winemakers to make exclusive wines at preferential prices which we pass onto our customers. Naked Wines currently has 159 winemakers in 16 countries and 320,000 Mature Angels (Customers). Sales for the full year ended 3 April 2017 were £144.3m.

•Majestic Commercial - A specialist on-trade supplier who aims to support businesses to make their wine lists more profitable, with the unique advantage of running their supply chain through Majestic Retail stores. Sales for the year ended 3 April 2017 were £47.0m.

•Lay and Wheeler - A specialist fine wine merchant. Lay & Wheeler aims to be a trusted guide for people who love fine wine, supplying the world's finest wines with a personal service. Sales for the year ended 3 April 2017 were £14.7m.