Transaction in Own Shares

5 July 2018                                                                                         

Ultra Electronics Holdings plc

("Ultra" or the "Group")

Purchase of shares during closed period

Ultra, the international defence, security, transport and energy group, today announces that it has entered into an agreement with Investec Bank plc ("Investec") under which it has issued an irrevocable instruction to Investec to manage the Group's share buyback programme, previously announced on 5 March 2018, during Ultra's closed period prior to the release of Ultra's interim results on 6 August 2018.

Investec will carry out the acquisition of Ultra's ordinary shares independently of, and uninfluenced by, Ultra for subsequent repurchase by the Group.  Any share purchases effected pursuant to the agreement will be subject to the terms of the agreement with Investec and in any case will be effected in a manner consistent with both the general authority vested in the Group to repurchase shares and conducted within the parameters prescribed by [the Market Abuse Regulation 596/2014, the Commission Delegated Regulation (EU) 2016/1052 and] Chapter 12 of the United Kingdom Listing Rules. Any purchase of ordinary shares by Ultra contemplated by this announcement will be carried out on the London Stock Exchange.  As previously announced, the sole purpose of these share purchases is to reduce the Group's share capital.

Enquiries:

Ultra Electronics Holdings plc

Cherise Trumper, Assistant Company Secretary                                                               020 8813 4313

Cherise.trumper@ultra-electronics.com

Anant Prakash, General Counsel & Company Secretary                                                    020 8813 4303

Anant.prakash@ultra-electronics.com

Further information about Ultra:

Ultra Electronics is an internationally successful defence, security, transport and energy company with a long track record of development and growth. Ultra and Ultra's subsidiaries and subsidiary undertakings (the "Ultra Group") manage a portfolio of specialist capabilities generating innovative solutions to customer needs. Ultra applies electronic and software technologies in demanding and critical environments ranging from military applications, through safety-critical devices in aircraft, to nuclear controls and sensor measurement. These capabilities have seen the Ultra Group's highly-differentiated products contributing to a large number of platforms and programmes.  

Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra's systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra's positions for the long-term which underpins the superior financial performance of the Ultra Group.  

Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Ultra Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers, as well as formulating Ultra's overarching, corporate strategy.  

Across the Ultra Group's three divisions, Ultra operates in the following eight market segments: