Total Voting Rights

 2 March 2020

LEI: 213800UQPHIQI5SPNG39

TRIAN INVESTORS 1 LIMITED(the "Company")

TOTAL VOTING RIGHTS

In accordance with DTR 5.6.1R, as at 29 February 2020 the Company had 267,825,147 Ordinary Shares in issue, each with equal voting rights, and 2,760,830 shares held in Treasury.

This total voting rights figure can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Estera International Fund Managers (Guernsey) Limited(Administrator and Company Secretary)+44 (0)1481 742 742Mariana Enevoldsen