15 July 2016

Melrose Industries PLC

("Melrose" or the "Company")

Final regulatory approvals received for Melrose's tender offer for Nortek

The Board of Melrose Industries PLC ("Melrose") is pleased to announce today that, with regards to the proposed acquisition of Nortek, Inc. ("Nortek"), the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act was granted by the regulatory authority in the United States on 13 July 2016. Accordingly, all anti-trust conditions in relation to the tender offer have been satisfied.

Enquiries:

IMPORTANT NOTICE:

This announcement does not, and is not intended to, constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities in the United States or any other jurisdiction where to do so would constitute a violation of the relevant securities laws.

This announcement is for information purposes only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for, any securities in Melrose Industries PLC or any other entity. No securities of Melrose Industries PLC have been or will be registered under the U.S. Securities Act of 1933 and such securities may not be offered or sold in the United States absent registration or an exemption from registration thereunder.

This announcement is for information purposes only and is not an offer to buy or the solicitation of an offer to sell any shares in the capital of Nortek (the "Nortek Shares"). The solicitation of offers to buy Nortek Shares will only be made pursuant to the offer to purchase, the letters of transmittal and related documents which were filed with the United States Securities and Exchange Commission ("SEC") on 8 July 2016. Nortek securityholders are strongly advised to read both the tender offer statement and the solicitation/recommendation statement filed by Nortek regarding the tender offer on 8 July 2016 as they contain important information.  Nortek securityholders may obtain free copies of these statements and other documents filed with respect to the tender offer at the SEC's website at www.sec.gov.  In addition, copies of the tender offer statement and related materials may be obtained for free by directing such requests to the information agent for the tender offer.  The solicitation/recommendation statement and related documents may be obtained by directing such requests to Nortek.

The distribution of this announcement in jurisdictions other than the United Kingdom may be affected by the laws of relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom will need to inform themselves about, and observe any, applicable requirements.

This announcement has been prepared in accordance with English law, the Listing Rules made by the Financial Conduct Authority (the "FCA") under section 73A of the Financial Services and Markets Act 2000 (as amended, modified or re-enacted from time to time) ("FSMA"), articles 17, 18 and 19 of the Regulation (EU) No. 596/2014 of the European Parliament and the Council of 16 April 2014 on market abuse and the transparency rules made by the FCA under Part IV of FSMA and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England.