Director/PDMR Shareholding

Lancashire Holdings Limited

(the "Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The Company announces that, on 18 May 2026, Alex Maloney, Executive Director and Group Chief Executive Officer, exercised 465,675 Restricted Share Awards (" RSS awards ") granted as nil-cost options over the Company's common shares of US$0.50 each. These RSS awards were granted under the LHL Restricted Share Scheme Performance Awards and Bonus Deferral Plan.

Mr. Maloney sold 230,387 of the resulting shares at the price shown below to cover the tax, national insurance and fees arising as a result of the exercise and retained the balance of 235,288 shares. The exercise was satisfied using existing shares in issue held by the Lancashire Holdings Limited Employee Benefit Trust.

Following this transaction, Mr. Maloney has an interest in the Company of 1,282,793 common shares (which includes 181,819 shares held via a connected person) , representing 0.5257%.

The notification made in accordance with the requirements of UK MAR, provides further detail:

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Alex Maloney
2	Reason for the notification
a)	Position/status	Executive Director and Group Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Lancashire Holdings Limited
b)	LEI	5493002UNUYXLHOWF752
4(i)	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Common Shares of US$0.50 each ISIN: BMG5361W1047
b)	Nature of the transaction	(i)                   Acquisition of shares on exercise of 465,675 RSS awards granted as nil-cost options over common shares of US$0.50 each. These RSS awards were granted under the LHL Restricted Share Scheme Performance Awards and Bonus Deferral Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s)   Nil 465,675 shares acquired on exercise of RSS awards
d)	Aggregated information -           Aggregated volume -           Price	465,675 Nil
e)	Date of the transaction	2026-05-18
f)	Place of the transaction	(XLON) London Stock Exchange - Regulated Market
4(ii)	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Common Shares of US$0.50 each ISIN: BMG5361W1047
b)	Nature of the transaction	(ii)                Sale of 184,982 shares to cover tax liabilities and fees on the exercise of 373,899 RSS awards granted as nil-cost options over common shares of US$0.50 each (iii)              Sale of 45,405 shares to cover tax liabilities and fees on exercise of 91,776 RSS awards granted as nil-cost options over common shares of US$0.50 each
c)	Price(s) and volume(s)	Price(s) Volume(s)   £ 6.359192 184,982 shares sold to cover tax liabilities   £ 6.357000 45,405 shares sold to cover tax liabilities
d)	Aggregated information -           Aggregated volume -           Price	230,387 £2,961,115
e)	Date of the transaction	2026-05-18
f)	Place of the transaction	(XLON) London Stock Exchange - Regulated Market

Name of authorised official of issuer for making notification

Christopher Head Company Secretary 20 May 2026

[e-mail]

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