easyJet plc ("the Company")

Director/PDMR shareholding

21 December 2015

The Company announces that on 18 December 2015, the PDMRs set out below exercised their award granted on 18 December 2012 under the easyJet Long Term Incentive Plan ('LTIP') and subsequently sold and retained the number of ordinary shares of 27 and 2/7 pence set out against their names below.  

The LTIP award grant on 18 December 2012 was based on a share price of £7.37. The LTIP award vested on 18 December 2015 at 100% of the total award. Of this, 50% vesting required easyJet's ROCE to achieve targets of at least 16%. The targets were based on three year average ROCE (excluding operating lease adjustments) performance for the years ended 30 September 2013, 30 September 2014 and 30 September 2015 ("the Performance Period"). The Company achieved an average ROCE of 22.2% for the three financial years ended 30 September 2015. The remaining 50% required a Total Shareholder Return (TSR) over the Performance Period to be in the upper quartile of a comparator group comprising the constituents of the FTSE 51 to FTSE 150 (as at the date of grant).  The vesting of the TSR portion of the award was subject to having a positive TSR over the period.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rules 3.1.2R and 3.1.4R. The Company received notification of the LTIP transactions on 18 December 2015.

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