Section 430(2B) Companies Act 2006 Statement

The following information is provided in accordance with section 430(2B) of the Companies Act 2006.

On 3 April 2018, the Company announced that Matthew Ingle had formally retired from his position as Chief Executive Officer and Director of the Company with effect from 2 April 2018. His retirement date from the Group will be 31 July 2018 and he will continue to receive his base salary and benefits until that date, during which period he will remain at the Company's disposal to support the transition. Matthew's services will also be retained under a consultancy arrangement for an initial period of 12 months following his retirement. Any fees paid to Matthew under this agreement will be disclosed in the relevant directors' remuneration report. Matthew will not be remunerated for his role as Honorary Life President of the Company.

Matthew will receive a pro-rated annual bonus in respect of time served to his retirement date for 2018, with the award subject to the achievement of the normal performance targets for the year (see page 77 of the 2017 Annual Report). No deferral will be applied to this award.

In accordance with our approved loss of office policy, unvested awards under the 2016 and 2017 Performance Share Plan will be pro-rated for the proportion of the performance period in which Matthew was employed. His 2016 and 2017 PSP awards will vest on their normal vesting dates of 5 May 2019 and 27 March 2020 respectively, subject to the extent to which performance conditions are met. These awards will not be subject to a post-vest holding period. Matthew will not receive an award under the 2018 Performance Share Plan.