Vectura Appoints Paul Fry as CFO

Vectura Group plc

Vectura announces the appointment of Paul Fry as Chief Financial Officer and Executive Director

Chippenham, UK - 16 July 2018: Vectura Group plc (LSE: VEC) ("Vectura", the "Group" or the "Company"), an industry-leading inhaled product formulation, device design and development business, announces the appointment of Paul Fry as Chief Financial Officer and Executive Director with effect from 29 October 2018. Paul succeeds Andrew Derodra who, as previously announced, leaves the Group and Board on 31 July 2018. Interim arrangements from within the Vectura group are in place ahead of Paul joining the Company.

Paul joins Vectura from Immunocore, the privately held leading T Cell Receptor biotechnology company, where he has been Chief Financial Officer since January 2017. Paul has significant experience in senior positions in the healthcare and telecommunications sectors. Before joining Immunocore Paul served as Director of Global Finance Operations at Vodafone Plc, where he was responsible for key financial controller activities and core processes as well as large transformation programmes.

Prior to his role at Vodafone, Paul spent more than 25 years at GlaxoSmithKline (GSK), where he held a number of senior roles including Head of Global Finance Services and as CFO for GSK's Italian Pharmaceutical business.

Paul graduated from Oxford University in 1988 and qualified as an accountant with the Chartered Institute of Management Accountants in 1991.

James Ward-Lilley, Vectura's Chief Executive Officer, commented:

"We are delighted to welcome Paul to Vectura. Paul brings with him significant industry experience and has an excellent track record as a strong finance and business leader in a range of businesses of varying scale. Paul's appointment reinforces our commitment to attracting talent with relevant sector and operational experience that will help us deliver our strategy. Together with the rest of the Board and the wider executive team, I am very much looking forward to working with Paul."

Commenting on his appointment, Paul Fry said:

"I am very happy to be joining Vectura plc at such a pivotal time. The Company has been transforming and making significant progress in terms of growth and portfolio development. I look forward to building on this firm foundation and helping James and the team drive further growth across the Group."

Paul's base salary will be £335k per annum and the rest of his package is in line with Vectura's existing remuneration policy for Executive Directors.

The remuneration committee has also agreed to compensate Paul on joining Vectura to reflect the forfeiture of his existing bonus entitlements and long term incentives resulting from his departure from Immunocore. Full details of these arrangements, which are in line with Vectura's recruitment policy, will be disclosed at the time Paul takes up his role and in next year's Annual Report and Accounts.

There are no additional details to disclose under Listing Rule 9.6.13. (1)- (6) of the UK Listing Authority in relation to the appointment of Paul Fry.

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About Vectura

Vectura is an industry-leading inhaled product formulation, device design and development business offering a uniquely integrated inhaled drug delivery platform. We develop inhalation products to help patients suffering from airways diseases.

Vectura has eight key inhaled, two non-inhaled and ten oral products marketed by partners with growing global royalty streams, and a diverse partnered portfolio of drugs in clinical development. Our partners include Hikma, Novartis, Sandoz, Mundipharma, Kyorin, Baxter, GSK, UCB, Ablynx, Bayer, Chiesi, Almirall, Janssen, Dynavax and Tianjin KingYork.

Vectura's strategy is to fully leverage its differentiated technology and skills, maximising value by enhancing the delivery and performance of inhaled products and through the development of high-quality generic alternatives to branded therapies.

For further information, please visit Vectura's website at www.vectura.com.