Norcros plc ("Norcros" or "the Company")

Director Dealings - APSP and DBP Share Options

Director/PDMR Shareholding

Norcros announces that following a recommendation from the Remuneration Committee, the Board has granted new share options under the Company's Approved Performance Share Plan (the "APSP") and the Deferred Bonus Plan (the "DBP") to the following Directors, on 23 July 2025.

The notification below, made in accordance with the requirements of the Market Abuse Regulation ("MAR"), provides further details.

APSP Share Option Awards

The Company has today granted the following nil cost share option awards under the APSP in respect of the current financial year (the "APSP Awards") to two Executive Directors of the Company over ordinary shares of ten pence each in the Company ("Ordinary Shares"). 

Under the APSP, awards are made subject to suitably stretching performance targets determined by the Remuneration Committee.  Accordingly, vesting of the APSP Awards will be subject to the following:

·      60% to the achievement of Earnings Per Share ("EPS") growth targets measured over a three-year performance period starting with the current financial year.

·      40% to the Company's total shareholder return performance relative to a defined comparator group, measured over the three-year period.

·      The EPS element will be subject to a discretionary assessment by the Remuneration Committee of the quality of earnings by reference to the Company's return on capital employed performance.

The APSP Awards will normally vest on the third anniversary of their grant, subject to satisfactory achievement of the performance targets and any vested shares will be subject to the Company's policy on a two-year post-vesting holding period.  No consideration was paid for the APSP Awards.

Bonus payment - Deferred Share Awards

Under the annual bonus scheme, 50 per cent. of an Executive Director's total bonus for the year is satisfied in cash, with the other 50 per cent. delivered in the form of nil cost options under the DBP.  These options represent 50 per cent. of the bonuses earned by the Executive Directors for the 2025 financial year.    

Norcros therefore also announces the grant of the following nil cost share option awards under the DBP in respect of the year ended 31 March 2025 (the "Deferred Awards") to the relevant Executive Director of the Company over Ordinary Shares.

The Deferred Awards are granted on the terms of the DBP and will normally vest on the third anniversary of their grant.  Because these shares represent part of a bonus already earned, no consideration was paid for the Deferred Awards and no consideration is due to be payable on vesting. Any vested shares will be subject to the Company's shareholding requirements.

MAR Notification

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

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