Holding(s) in Company 2

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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)ⁱ

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedⁱⁱ: Paddy Power Betfair Plc
2. Reason for the notification (please tick the appropriate box or boxes): [ ] An acquisition or disposal of voting rights [ ] An acquisition or disposal of financial instruments [X] An event changing the breakdown of voting rights [ ] Other (please specify)ⁱⁱⁱ:
3. Details of person subject to the notification obligation^iv :
Name: Parvus Asset Management Europe Limited		City and country of registered office (if applicable): London, United Kingdom
4. Full name of shareholder(s) (if different from 3.)^v: Parvus Asset Management Europe Limited has been appointed as Investment Manager to a number of funds and managed accounts. Under the terms of the various investment management agreements, Parvus Asset Management Europe Limited holds the power to vote any physical shareholdings held by these clients. No individual client holds voting rights which equal or exceed the notifiable threshold.
5. Date on which the threshold was crossed or reached^vi: 1 February 2019
6. Date on which issuer notified: 5 February 2019
7. Threshold(s) that is/are crossed or reached: Going above 9% in aggregate. Going above 9% in equity swaps.
8. Total positions of person(s) subject to the notification obligation:
	% of voting rights attached to shares (total of 9.A)	% of voting rights through financial instruments (total of 9.B.1 + 9.B.2)	Total of both in % (9.A + 9.B)	Total number of voting rights of issuer^vii
Resulting situation on the date on which threshold was crossed or reached	0%	9.04%	9.04%	78,702,310
Position of previous notification (if applicable)	0%	8.66%	8.66%

9. Notified details of the resulting situation on the date on which the threshold was crossed or reached^viii:
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)	Number of voting rights^ix					% of voting rights
	Direct		Indirect			Direct		Indirect



SUBTOTAL A

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations
Type of financial instrument		Expiration date^x		Exercise/ Conversion Period^xi		Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



				SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations
Type of financial instrument	Expiration date^x			Exercise/ Conversion Period ^xi	Physical or cash settlement^xii		Number of voting rights			% of voting rights
Equity Swap	11/03/2019			N/A	Cash		1,255,381			1.60%
Equity Swap	02/05/2019			N/A	Cash		458,605			0.58%
Equity Swap	28/06/2019			N/A	Cash		27,163			0.03%
Equity Swap	01/07/2019			N/A	Cash		8,200			0.01%
Equity Swap	05/07/2019			N/A	Cash		13,954			0.02%
Equity Swap	12/07/2019			N/A	Cash		2,461,450			3.13%
Equity Swap	03/09/2019			N/A	Cash		53,487			0.07%
Equity Swap	08/11/2019			N/A	Cash		5,900			0.01%
Equity Swap	03/12/2019			N/A	Cash		2,666,807			3.39%
Equity Swap	28/09/2020			N/A	Cash		9,200			0.01%
Equity Swap	04/01/2021			N/A	Cash		6,200			0.01%
Equity Swap	24/09/2021			N/A	Cash		28,800			0.04%
Equity Swap	26/10/2021			N/A	Cash		95,700			0.12%
Equity Swap	01/06/2021			N/A	Cash		22,000			0.03%

					SUBTOTAL B.2		7,112,847			9.04%

10. Information in relation to the person subject to the notification obligation (please tick the applicable box): [ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.^xiii [X] Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv:
Name^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Edoardo Mercadante	N/A	9.04%	9.04%
Parvus Asset Management (Cayman) Limited	N/A	9.04%	9.04%
Parvus Asset Management Limited	N/A	9.04%	9.04%
Parvus Asset Management Europe Limited	N/A	9.04%	9.04%

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date] N/A

12. Additional information^xvi: N/A

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