Director/PDMR/PCA Transaction-Initial Notification

AJ Bell plc (Company)

Director/PDMR/PCA Transaction - Initial Notification

The Company announces that it was notified on 15 March 2019, that Christopher Bruce Robinson a person discharging managerial responsibility (PDMR) in the Company has transferred 120,638 ordinary shares of £0.000125 each in the Company (Ordinary Shares) to his wife, Diana Lee Robinson, a person closely associated (PCA). The transfer took place on 15 March 2019.

The transaction was entered into in accordance with an exception from the lock up arrangements applicable to Management Selling Shareholders (as defined in the prospectus published in relation to the initial public offering of the Company's shares on 27 November 2018 (Prospectus), as described in paragraph 10 of Part 7 (Details of the Offer) of the Prospectus, of one year in respect of 100% of their shareholdings at Admission (as defined in the Prospectus) and a further one year in respect of 50% of such shareholdings. Notwithstanding the transaction, the Ordinary Shares remain subject to the terms of such lock up arrangements.

Following the transaction, there has been no change in the number of shares in which Christopher Bruce Robinson has an interest. The shares had previously been held by Christopher Bruce Robinson on trust for his wife, Diana Lee Robinson.

This announcement, including the notification below, is made in accordance with the requirements of the EU Market Abuse Regulation.

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

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

Name of officer of issuer responsible for making notification: Bruce Robinson (Company Secretary)

Date of notification: 18 March 2019