Speedy Hire Plc (the "Company")

Notification of transactions by Persons Discharging Managerial Responsibilities

On 21 July 2023 awards (the "PSP Awards") over ordinary shares of 5 pence each in the share capital of the Company ("Shares") were granted under the Company's 2014 Performance Share Plan ("PSP") to persons discharging managerial responsibilities as detailed below (the "PDMRs"). The number of Shares referred to below is the maximum available if the performance conditions are met in full. In the normal course of events, the PSP Awards will become exercisable as from the third anniversary of the grant, subject to each PDMR's continued service and the extent to which the following objective earnings per share ("EPS") and total shareholder return performance ("TSR") conditions have been satisfied:

·      50% of the PSP Awards will be subject to an EPS condition. 25% of this part of an award vests for EPS of 6.25 pence with full vesting of this part of an award for EPS of 8.00 pence for the financial year ending 31 March 2026. A sliding scale operates between these points; and

·      50% of the PSP Awards will be subject to a relative TSR condition based on the Group's performance against the constituents of the FTSE 250 (excluding investment trusts) measured over three years from the date of award.  25% of this part of an Award vests if the Company's TSR is ranked at the median of the TSRs of the comparator group, with full vesting of this part of an award for upper quartile performance. A sliding scale operates between these points.

In addition to the above, the Company's Remuneration Committee retains discretion to reduce the level of vesting of the PSP Awards in response to exceptional circumstances. This will include an assessment as to whether a windfall gain has occurred between grant and vesting of the 2023 award, in 2026. If the Committee determines that a windfall has occurred upon vesting, then it will consider the extent to which the number of shares vesting will be scaled back.

The PSP Awards were granted in the form of nil-cost options and remain subject to the rules of the PSP at all times including that awards to executive directors are subject to a two-year post vesting holding period (net of tax).

Enquiries:

Neil Hunt

Company Secretary

Speedy Hire Plc

Telephone:  01942 720000