PDMR Shareholding

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Francis

2.

Reason for the Notification

a)

Position/status

Global Head of Professional Services

b)

Initial notification/Amendment

Initial notification

3.

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

a)

Name

Lombard Risk Management Plc

b)

LEI

N/A

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

Identification code

LRM

b)

Nature of the transaction

Purchase of ordinary shares from the open market

c)

Price(s) and volume(s)

d)

Aggregated information:

· Aggregated volume

· Price

60,461 ordinary shares of 0.5 pence purchased at 8.25 pence per ordinary share

e)

Date of the transaction

20 October 2016

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)