2019/20 Remuneration Policy

27 August 2019

DIXONS CARPHONE PLC (the "Company")

2019/20 REMUNERATION POLICY (the "Policy")

In advance of the 2019 Annual General Meeting to be held on Thursday 5 September 2019 (the "2019 AGM"), the Company wishes to update shareholders on an aspect of the proposed Policy as set out in the 2018/19 Annual Report and Accounts that will be subject to a binding vote at the 2019 AGM.

The Remuneration Committee gives an undertaking that notwithstanding the Policy flexibility to pay up to 10% of base salary as a pension contribution (or cash allowance in lieu of pension) for a newly appointed executive director, any such appointment would be made with a pension contribution in line with the level paid to the majority of the UK workforce across the Group (which at the current time is 3% of salary).

Tony DeNunzio, Deputy Chairman and Chairman of the Remuneration Committee said: 'As Dixons Carphone embarks upon its transformation, all our colleagues have a vital role in ensuring the business becomes the world-class retailer we know it can be. As a board, we feel it is important that our remuneration policies are fair, consistent and transparent, operating in the interests of all our colleagues and broader stakeholders. Having consulted further with our shareholders and considered evolving market practice, we recognise that equalizing pension contributions for new executive directors in line with other colleagues across the business is an important step in that direction.'

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