Clarification of Directors' Remuneration Policy

22 May 2019

Funding Circle Holdings plc

Clarification of Directors' Remuneration Policy (contained in the 2018 annual report and accounts)

In advance of the first Annual General Meeting ("AGM") of Funding Circle Holdings plc (the "Company") at 9am on Wednesday 5 June 2019 and following feedback from shareholder advisory bodies, the Company wishes to clarify an element of the Remuneration Policy which is being put to a shareholder vote at the 2019 AGM. 

The awards granted under the Company's long-term incentive plan (LTIP) to the CEO and CFO will be subject to the following annual limits:

·       A maximum of £1.98 million for the CEO in each year for the three year period;

·       A maximum of £1.12 million for the CFO in each year for the three year period.

This will replace the limit based on the median of the maximum total direct compensation for the FTSE 250 (excluding the top 50 companies in the FTSE 250). The LTIP represents the sole incentive under the Remuneration Policy, which has been purposely weighted towards long-term variable performance related remuneration. 

As a result, the disclosure made by the Company in the Remuneration Policy table on page 68 of the 2018 annual report and accounts (the "Annual Report") should be amended from "Derived from the median of maximum total direct compensation for FTSE 250 companies (other than the top 50 companies to ensure peer size is relevant). For 2019, these awards would be £1.98 million for the CEO and £1.12 million for the CFO." to read as follows (amended wording is under the Maximum Opportunity section and in bold):

As detailed in the Annual Report, the CEO has waived his entitlement to a LTIP award in 2019. 

There are no other changes to disclosures in the Annual Report. There is no change to the contents of the AGM Notice, issued on 8 April 2019. A copy of the AGM Notice is available to download from the Company's website here: https://corporate.fundingcircle.com/download_file/228/0  

Investor Relations:

Funding Circle

David de Koning - Director of Investor Relations and Communications (020 3667 2245)

About Funding Circle:

Funding Circle (LSE: FCH) is a global SME loans platform, connecting SMEs who want to borrow with investors who want to lend in the UK, US, Germany and the Netherlands. Since launching in 2010, investors across Funding Circle's geographies - including more than 90,000 retail investors, banks, asset management companies, insurance companies, government-backed entities and funds - have lent more than £7 billion to over 65,000 businesses globally. Funding Circle is a member of the FTSE 250 Index.