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    REG-FirstGroup PLC: Director/PDMR Shareholding

    Picture of Firstgroup logoFirstgroupAnnouncement
    15/11/2018 16:40
     

FirstGroup plc

15 November 2018

Director/PDMR Shareholding

Grant of awards under the Long-Term Incentive Plan (“LTIP”)

Further to the announcement dated 13 November 2018 regarding his appointment
as Chief Executive of FirstGroup plc (the “Company”), Matthew Gregory’s
LTIP award opportunity is now 200% in accordance with the Company’s approved
Remuneration Policy.

Therefore, the Company confirms that Matthew was yesterday granted an award,
for nil consideration, over 232,998 ordinary shares of £0.05 each under the
LTIP. This award is in addition to the grant made to Matthew over 909,550
shares on 5 July 2018, at the time of the Company’s annual LTIP awards
(which represented 175% of Matthew’s salary as Chief Financial Officer).

The additional award has been made in recognition of Matthew’s appointment
as Chief Executive and has been calculated to reflect the period during the
year which Matthew, as Chief Executive, is eligible for a 200% LTIP award,
taking into account his salary upon promotion.

LTIP awards will normally vest following the end of the three-year performance
period commencing on 1 April 2018, subject to the satisfaction of performance
conditions relating to earnings per share (“EPS”) growth, relative total
shareholder return (“TSR”) and road return on capital employed
(“ROCE”), and provided participants remain in their roles within
FirstGroup. The targets for these performance conditions are set out below:

 Vesting (% of max)  EPS growth (40% weighting)  Relative TSR (40% weighting)  Road ROCE (20% weighting)  
         0%                   <4% CAGR                      
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