28 July 2017

Royal Mail plc

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

Long Term Incentive Plan 2014 (LTIP 2014) Vesting

On 28 July 2017, the shares vesting under the Royal Mail plc (the "Company") LTIP 2014 were transferred to the plan's participants.  As a result of the Company achieving 46 per cent of the performance target relating to the LTIP 2014, the Persons Discharging Managerial Responsibility ("PDMRs") listed below received the total number of shares shown in the table below.  This is 46 per cent of each PDMR's original award, granted in July 2014:

Also on 28 July 2017, the shares vesting under the GLS LTIP 2014 were transferred to the plan's participants, and to the PDMR listed below:

Long Term Incentive Plan 2017 (LTIP 2017) Grant

On 28 July 2017, the PDMRs listed below were granted conditional share awards over ordinary shares in Royal Mail plc under the Royal Mail LTIP 2017. The number of shares awarded under the LTIP 2017 is set out in the table below, which is the maximum grant that the PDMRs are eligible for, and will only vest in full if the maximum performance conditions are achieved.  Over the last three years, the LTIP has vested, on average, at 59 per cent of the maximum. 

The LTIP 2017 share awards will normally vest at the end of the three year performance period, once the Remuneration Committee has determined achievement against the performance condition.  The earliest release date will be 28 July 2020, subject to the participant continuing to hold office or employment within the Royal Mail Group, and then be subject to a two year holding period. 

In addition, a conditional share award over ordinary shares in Royal Mail plc was also granted on 28 July 2017 to Rico Back, a PDMR, under the GLS Long Term Incentive Plan.  This share award will normally vest on the third anniversary of the Grant Date, subject to the achievement of performance conditions.  The earliest release date will be 28 July 2020.  The number of shares awarded under the GLS LTIP 2017:

No consideration was paid for the grant of the share awards.

The PDMRs are bound by the Shareholder Guidelines Policy which sets a minimum shareholding requirement and are expected to retain any shares released under the LTIP until this is achieved.

The attached notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.

Contacts:

Company Secretariat

Kulbinder Dosanjh

Phone: 020 7449 8133  

Email: cosec@royalmail.com

Media

Andrew Moys

Phone: 07841 803 321

Email: andrew.moys@royalmail.com

Royal Mail press office out of hours: 020 3338 1007

Investor Relations

Catherine Nash

Phone: 020 7449 8183

Email: investorrelations@royalmail.com