Lancashire Holdings

Remuneration Information • Feb 23, 2021

National Storage Mechanism | Additional information

LANCASHIRE HOLDINGS LIMITED - Director/PDMR Shareholding

PR Newswire

London, February 23

Lancashire Holdings Limited

(the “Company”) or (“LHL”)

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The Company announces that, on 19 February 2021, Restricted Share Awards (“RSS awards”) were granted as nil-cost options over common shares of US$0.50 each under the LHL Restricted Share Scheme as both Long Term Incentive Performance RSS Awards and Deferred Annual Bonus RSS Awards to Alex Maloney, Executive Director and Group Chief Executive Officer and to Natalie Kershaw, Executive Director and Group Chief Financial Officer.

Mr. Maloney was granted 356,943 RSS awards as nil-cost options over the Company’s common shares of US$0.50 each. Of these RSS awards 313,321 were granted as Long Term Incentive Performance RSS Awards* and 43,622 were granted as Deferred Annual Bonus RSS Awards**.

Ms. Kershaw was granted 201,526 RSS awards as nil-cost options over the Company’s common shares of US$0.50 each. Of these RSS awards 174,653 were granted as Long Term Incentive Performance RSS Awards* and 26,873 were granted as Deferred Annual Bonus RSS Awards**.

*In accordance with the LHL Restricted Share Scheme rules, in the normal course of events the 2021 Long Term Incentive Performance RSS Awards will vest in 2024 to the extent that the Performance Conditions (measured over a three-year performance period ending 31 December 2023) have been satisfied and provided the Award holder remains employed by a Group Member on the date of vesting.

**In accordance with the LHL Restricted Share Scheme rules, exercise of the 2020 Deferred Annual Bonus RSS Awards may occur over the relevant vested awards at such point as the Award holder selects, up to the 10th anniversary of the date of grant. Subject to the vesting conditions, each Deferred Annual Bonus RSS Award will vest in three equal tranches.  Vested awards may only be exercised in “open periods”. It is anticipated that the first open period following the normal vesting date will commence in February 2022 in the case of the first tranche, in February 2023 in the case of the second tranche, and in February 2024 in the case of the third tranche.

The notification below, made in accordance with the requirements of UK MAR, provides further detail:

1Details of the person discharging managerial responsibilities/person closely associateda)NameAlex Maloney2Reason for the notificationa)Position/statusExecutive Director and Group Chief Executive Officerb)Initial notification/AmendmentInitial notification3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameLancashire Holdings Limitedb)LEI5493002UNUYXLHOWF7524Details 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 conducteda)Description of the financial instrument, type of instrument

Identification codeNil-cost options over Common Shares of US$0.50 each

ISIN: BMG5361W1047b)Nature of the transactionGrant of356,943 RSS awards granted as nil-cost options over common shares of US$0.50 each, of which 313,321 were granted as Long Term Incentive Performance RSS Awards and 43,622 were granted as Deferred Annual Bonus RSS Awards.c)Price(s) and volume(s)

Price(s)	Volume(s)
Nil	313,321
Nil	43,622

d)Aggregated information

356,943

NILe)Date of the transaction2021-02-19f)Place of the transactionOutside a trading venue

1Details of the person discharging managerial responsibilities/person closely associateda)NameNatalie Kershaw2Reason for the notificationa)Position/statusExecutive Director and Group Chief Financial Officerb)Initial notification/AmendmentInitial notification3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameLancashire Holdings Limitedb)LEI5493002UNUYXLHOWF7524Details 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 conducteda)Description of the financial instrument, type of instrument

Identification codeNil-cost options over Common Shares of US$0.50 each

ISIN: BMG5361W1047b)Nature of the transaction Grant of201,526RSS awards granted as nil-cost options over common shares of US$0.50 each, of which 174,653 were granted as Long Term Incentive Performance RSS Awards and 26,873 were granted as Deferred Annual Bonus RSS Awardsc)Price(s) and volume(s)

Price(s)	Volume(s)
Nil	174,653
Nil	26,873

d)Aggregated information

201,526

NILe)Date of the transaction2021-02-19f)Place of the transactionOutside a trading venue

Name of authorised official of issuer for making notification

Christopher Head Company Secretary 23 February 2021	+44 20 7264 4145 chris.head@lancashiregroup.com