REG-Lancashire Holdings Ltd: Share Repurchase Programme

Lancashire HoldingsAnnouncement

22/11/2023 07:15

Share Repurchase Programme

LANCASHIRE HOLDINGS LIMITED

22 November 2023

Hamilton, Bermuda

Share Repurchase Programme

Lancashire Holdings Limited (the “Company” or “Lancashire”) today
announces that, further to the announcement made in the Company’s Q3 2023
Trading Statement dated 9 November 2023, it will commence a share repurchase
programme of its common shares of US$0.50 each (the “Shares”) up to a
maximum consideration of US$50,000,000 (the “Aggregate Purchase Price”)
(the “Programme”).

Lancashire announces that it has entered into an instruction to Morgan Stanley
& Co. International Plc (“Morgan Stanley”) in relation to the purchase by
Morgan Stanley, acting as riskless principal during the period commencing on
22 November 2023 and ending no later than 29 February 2024, of up to
24,401,000 Shares for an aggregate amount of no greater than the Aggregate
Purchase Price and the simultaneous on-sale of such Shares by Morgan Stanley
to Lancashire.

Any purchase of Shares in relation to this announcement will be executed in
accordance with the relevant regulations (including but not limited to the
Listing Rules) and Lancashire’s general authority, as granted by
shareholders at Lancashire’s AGM held on the 26 April 2023, to make market
purchases of Shares. Lancashire will announce any market repurchase of Shares
no later than 7:30am on the business day following the day on which the
repurchase occurred. Shares purchased under the Programme will either be used
to satisfy a number of future exercises of awards under the Company’s
Restricted Share Scheme; or will be held in treasury; or will be cancelled.

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer for securities in any jurisdiction.

See further the “Note Regarding Forward-Looking Statements” below. 

For further information, please contact:

 Lancashire Holdings Limited                                         
 Christopher Head             +44 20 7264 4145                       
                              chris.head@lancashiregroup.com         
 Jelena Bjelanovic            +44 20 7264 4066                       
                              jelena.bjelanovic@lancashiregroup.com  
 FTI Consulting               +44 20 37271046                        
 Edward Berry                 Edward.Berry@FTIConsulting.com         
 Tom Blackwell                Tom.Blackwell@FTIConsulting.com        

About Lancashire

Lancashire, through its UK and Bermuda-based operating subsidiaries, is a
provider of global specialty insurance and reinsurance products.

Lancashire’s common shares trade on the premium segment of the Main Market
of the London Stock Exchange under the ticker symbol LRE. Lancashire has its
head office and registered office at Power House, 7 Par-la-Ville Road,
Hamilton HM 11, Bermuda.

The Bermuda Monetary Authority (“BMA”) is the Group Supervisor of the
Lancashire Group.

For more information, please visit Lancashire’s website at
www.lancashiregroup.com.

This release contains information which may be of a price sensitive nature,
that Lancashire is making public in a

manner consistent with the UK Market Abuse Regulation and other regulatory
obligations. The information was submitted for publication, through the agency
of the contact persons set out above, at 7:00am GMT on 22 November 2023.

NOTE REGARDING FORWARD-LOOKING STATEMENTS:

CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE MODELLED LOSS
SCENARIOS) MADE IN THIS RELEASE OR OTHERWISE THAT ARE NOT BASED ON CURRENT OR
HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
STATEMENTS CONTAINING THE WORDS “BELIEVES”, “ANTICIPATES”, “AIMS”,
“PLANS”, “PROJECTS”, “FORECASTS”, “GUIDANCE”, “INTENDS”,
“EXPECTS”, “ESTIMATES”, “PREDICTS”, “MAY”, “CAN”,
“LIKELY”, “WILL”, “SEEKS”, “SHOULD”, OR, IN EACH CASE, THEIR
NEGATIVE OR COMPARABLE TERMINOLOGY.

ALL FORWARD-LOOKING STATEMENTS IN THIS RELEASE SPEAK ONLY AS AT THE DATE OF
PUBLICATION. LANCASHIRE HOLDINGS LIMITED EXPRESSLY DISCLAIMS ANY OBLIGATION OR
UNDERTAKING (SAVE AS REQUIRED TO COMPLY WITH ANY LEGAL OR REGULATORY
OBLIGATIONS INCLUDING THE RULES OF THE LONDON STOCK EXCHANGE) TO DISSEMINATE
ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENT TO REFLECT ANY
CHANGES IN THE GROUP’S EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH
STATEMENT IS BASED. ALL SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS
ATTRIBUTABLE TO THE GROUP OR INDIVIDUALS ACTING ON BEHALF OF THE GROUP ARE
EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THIS NOTE.



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