15 June 2017

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

On 13 June 2017 the following conditional share awards over ordinary shares of 4 ^329/395 pence in Aggreko plc (the "Company") were made under the Aggreko 2015 Long Term Incentive Plan (the "LTIP") and Aggreko Restricted Share Plan 2015 (the "RSP") to the Chief Executive Officer and other Persons Discharging Managerial Responsibility ("PDMRs") of the Company.

No consideration was paid for the grant of the awards.

Award to Chief Executive Officer

An award to the Chief Executive Officer was made under the LTIP as follows:

The vesting of the award is subject to continued office and performance conditions based on the long-term financial performance of the Group set by the Remuneration Committee of the Company. 

The three-year performance period over which D-EPS and ROCE performance will be measured is from 1 January 2017 to 31 December 2019. The performance criteria for the LTIP award is as follows:

•     75% of the award is based on three-year cumulative D-EPS as compared to three-year compound growth in real (RPI-adjusted) D-EPS. No performance shares will be awarded against this element if performance is below an equivalent of RPI+3% per annum growth. Awards will then start to vest above that level and will increase straight-line to a maximum at an equivalent of RPI+15% per annum growth; and

•     25% of the award is based on average ROCE over the performance period in a range of 20% to 25%. No performance shares will be awarded against this element if performance is less than 20% and awards will increase straight-line to the maximum at 25% ROCE.

A proportion of shares which vest will be subject to a further retention period of up to two years, with one-third being released (post-tax) on vesting and a further third being released after each of one and two years from vesting.     

Recruitment award to Stephen Beynon

An award was made to Stephen Beynon under the RSP as follows:

The vesting of the award is subject to continued employment at date of vesting.

Further awards

The following awards were made under the RSP:

The vesting of both the Performance and Supplementary awards is subject to continued employment of the PDMR at the date of vesting.  The awards will normally vest on 13 June 2020. 

Vesting of the Performance award is also subject to performance conditions based on the long-term financial performance of the Group set by the Remuneration Committee of the Company.

The performance period is the three financial years from 1 January 2017 to 31 December 2019. D-EPS will be measured over the three-year performance period.  ROCE will be measured in the final year of the performance period. The performance criteria for the Performance Awards are as follows:

•     75% of the award is based on three-year cumulative D-EPS, with 25% of shares awarded against this element for D-EPS growth of 5% per annum. Awards will then continue to vest above that level and will increase straight-line to a maximum for 12% per annum growth; and

•     25% of the award is based on final year ROCE in the range of 15% to 20%, with 25% of shares awarded against this element if 2019 ROCE is 15%.  Awards will increase straight-line to the maximum at 20% ROCE in 2019.

For all PDMRs, other than Anna Filipopoulos, a proportion of shares which vest will be subject to a further retention period of up to two years, with one-third being released (post-tax) on vesting and a further third being released after each of one and two years from vesting.     

Details of awards granted to PDMRs are set out below in compliance with Article 19 of Regulation 596/2014.