Xps Pensions Regulatory News (XPS)

26 July 2019

For Immediate Release

XPS Pensions Group plc (the "Company")

Directorate Change

XPS Pensions Group plc announces today that Non-Executive Director Jonathan Punter will retire from the Board of Directors effective upon the conclusion of the Company's Annual General Meeting to be held on 12 September 2019.

Jonathan Punter's appointment to the Board is pursuant to a Relationship Agreement with Punter Southall Group Limited ("PSGL") entered into on the completion of the Company's acquisition of PSGL and its subsidiaries on 11 January 2018 (the "Relationship Agreement"). The Relationship Agreement entitles PSGL to appoint one nominee Director to the Board for so long as PSGL holds a beneficial interest, directly or indirectly, in 10% or more of the aggregate voting rights in the Company from time to time.

PSGL has informed the Company that it does not currently intend to nominate a replacement Director to the Board at this time.

Tom Cross Brown, Chairman of the Board, said: "On behalf of the Board, I thank Jonathan for his contribution to the Board since his appointment".

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Notes to Editors:

XPS Pensions Group is the largest pure pensions consultancy in the UK, specialising in pensions actuarial, investment consulting and administration, with revenues of around £110 million. The XPS Pensions Group business combines expertise, insight and technology to address the needs of both pension trustees and sponsoring companies for over 1,000 pension schemes on an ongoing and project basis. These clients include 25 schemes with over £1bn of assets, and we undertake pensions administration for over 800,000 scheme members.