Director/PDMR Shareholding

Lancashire Holdings Limited

(the “Company”)

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

The Company announces that, on 15 February 2022, Natalie Kershaw, Executive Director and Chief Financial Officer exercised 21,032 Restricted Share Awards (“RSS awards”) granted as nil-cost options over the Company’s common shares of US$0.50 each. These RSS awards were granted under the LHL Restricted Share Scheme.

Ms. Kershaw sold 9,407 of the resulting shares at the price shown below to cover the tax, national insurance and fees arising as a result of the exercise and retained the balance of 11,625 shares. The exercise was satisfied using existing shares in issue held by the Lancashire Holdings Limited Employee Benefit Trust.

Following this transaction, Ms. Kershaw has an interest in the Company of 52,840 common shares, representing 0.0217%.

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Natalie Kershaw
2	Reason for the notification
a)	Position/status	Executive Director and Group Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Lancashire Holdings Limited
b)	LEI	5493002UNUYXLHOWF752
4(i)	Details 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 conducted
a)	Description of the financial instrument, type of instrument Identification code	Common Shares of US$0.50 each ISIN: BMG5361W1047
b)	Nature of the transaction	Acquisition of shares on exercise of 21,032 Restricted Share Awards (“RSS awards”) granted as nil-cost options over common shares of US$0.50 each. These RSS awards were granted under the LHL Restricted Share Scheme Performance Awards.
c)	Price(s) and volume(s)	Price(s) Volume(s)  nil 21,032 shares acquired on exercise of RSS awards
d)	Aggregated information Aggregated volume Price	21,032 Nil
e)	Date of the transaction	2022-02-15
f)	Place of the transaction	(XLON) London Stock Exchange – Regulated Market
4 (ii)	Details 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 conducted
a)	Description of the financial instrument, type of instrument Identification code	Common Shares of US$0.50 each ISIN: BMG5361W1047
b)	Nature of the transaction	Sale of 9,407 shares to cover tax liabilities and fees on exercise of 21,032 Restricted Share Awards (“RSS awards”) granted as nil-cost options over common shares of US$0.50 each
c)	Price(s) and volume(s)	Price(s) Volume(s)  5.32  9,407 shares sold to cover tax liabilities
d)	Aggregated information Aggregated volume Price	9,407 £50,045.24
e)	Date of the transaction	2022-02-15
f)	Place of the transaction	(XLON) London Stock Exchange – Regulated Market

Name of authorised official of issuer for making notification

Christopher Head Company Secretary 16 February 2022

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