Shepherd Neame Ltd Director/PDMR Shareholding

The following share transactions have been notified to the Company and are reported accordingly:

The Company was informed on 22 April 2016 by Mr Jonathan Neame that he had exercised and subsequently sold 4,065 secondary options granted by the Company under the Shepherd Neame 2005 Restricted Share Scheme on 19 October 2012 and vesting on 19 October 2015, in accordance with the performance criteria being met. The option price was £1.00 per ordinary share and the sale price was £11.65 per share. His wife, Mrs Lucilla Neame, disposed of 3,100 ordinary shares at a price of £11.65 per share. As a result of these disposals, the beneficial interest in the Company’s shares held by Mr Neame and his connected parties, decreased from 152,074 ordinary shares (1.02%) to 148,974 ordinary shares (1.00%).

The Directors of Shepherd Neame Limited accept responsibility for this statement.