Directorate Change

23 January 2019

RETIREMENT OF GROUP FINANCE DIRECTOR AND

APPOINTMENT OF CHIEF FINANCIAL OFFICER

John Laing Group plc ("John Laing" or the "Company") is pleased to announce the appointment of Luciana Germinario as Chief Financial Officer Designate.

Patrick O'D Bourke has decided to retire and will step down from the Board following John Laing's Annual General Meeting on 9 May 2019 to pursue a non-executive career. Patrick has served as Group Finance Director since 2011.

Luciana Germinario will be appointed to the Board of Directors of John Laing with effect from 25 April 2019. To enable a smooth transition, she will be getting to know the business in the meantime and will subsequently succeed Patrick O'D Bourke.

Luciana was the Chief Financial Officer for Eight Roads, the principal investment division of Fidelity International Limited which oversees proprietary capital investments into real estate, venture capital and growth businesses. Prior to this, Luciana held a number of finance roles within General Electric.

Olivier Brousse, Chief Executive Officer, commented: "Patrick has been a crucial member of the team and has been instrumental in our successful IPO in 2015 and our move to a more internationally focussed business. I have thoroughly enjoyed working with him and we will be sorry to see him retire. The Board and I are very pleased to welcome Luciana to the team. Her previous international financial and investment experience will be an excellent addition to John Laing's executive team. I am looking forward to working with her as we continue to grow the business."

Will Samuel, Chairman, commented "We are delighted that Luciana will soon be joining us. John Laing has a strong track record of identifying strong investment opportunities in the infrastructure and renewable energy sectors. Demand for both is increasing and Luciana will bring strong operational capability with a real focus on driving investment performance. On behalf of the Board, I would also like to express our particular appreciation to Patrick for his invaluable contribution to the business. We wish him well for the future."

Statutory and Other Disclosures

Luciana Germinario's service contract, remuneration and benefits on appointment will be consistent with John Laing's Directors' Remuneration Policy approved by shareholders at the Annual General Meeting held on 11 May 2016. A summary of the key terms is provided here and further detail will be set out in the Company's 2018 Remuneration Report following her appointment.

Her basic salary will be £325,000. She will participate in the Annual Bonus Scheme for Executive Directors with a maximum bonus opportunity of 100% of basic salary. The bonus will be pro-rated to reflect actual service during the year. Bonus targets and parameters are set each year by the Remuneration Committee.  In addition, she will receive an award under the Company's Long-Term Incentive Plan in the grant window that follows her date of joining in accordance with terms of the Company's Remuneration Policy.   

Luciana will also receive buyout awards in recognition of the forfeiture of certain long-term incentive awards granted to her by her previous employer upon resignation. The awards will be structured to mirror the time horizons and expected value of the forfeited remuneration.  The grant of the buyout awards is subject to verification conditions. The grant value of the buyout awards is approximately £240,000 and the awards will primarily be delivered in shares.

A pension provision of 12% of basic salary will be provided.  She will also receive private medical insurance, permanent health insurance and life assurance.

There are no other matters relating to Luciana Germinario which would require disclosure under Listing Rules 9.6.13R.

Further information