National World plc

("National World")

Grant of performance share awards under Long Term Incentive Plan

and

Notification of transactions by PDMRs

National World announces that on 10 May 2024 it made 1,765,410 performance share awards in the form of nominal cost options ("Performance Shares") under the National World Long Term Incentive Plan ("LTIP") to three executive directors as detailed below.

The vesting of all the Performance Shares is conditional on meeting performance conditions measured over a three-year period as described below. The awards will vest on the third anniversary of grant.

Performance conditions

1. Adjusted Earnings Per Share ("EPS") Target

Up to 50% of the total Performance Shares will vest dependent upon the achievement of adjusted EPS targets for the year ending 2 January 2027, determined as follows:

Straight line vesting for EPS between 3.3p and 3.8p.

2. Total Shareholder Return ("TSR") Target

Up to 50% of the total Performance Shares will vest dependent upon the performance of the Company's Absolute TSR measured over the three year period ending 2 January 2027.  The share price at the start of this period was 13.75 pence, being the closing price of the Company's shares on 29 December 2023 from LSE website, the last trading day before the start of the performance period.

The making of these awards at these levels and with these performance conditions is in accordance with the Company's Remuneration Policy with regard to the Executive Directors.

In making its determination in relation to the achievement of the above conditions, the Committee may, in line with the Good Governance Practice, exercise its discretion to override formulaic outcomes, including, without limitation, to reflect overall corporate performance and the experience of shareholders in terms of value creation and if the business has suffered an exceptional negative event.

The Remuneration Committee has discretion to adjust the level of vesting if in its opinion such level of vesting resulting from the application of the performance conditions is considered not to be a fair and accurate reflection of the performance of the Company or a fair and accurate reflection of the award holder's performance or where there is any other factor or any other circumstances which would make the level of vesting inappropriate without adjustment.

Enquiries:

The information set out in this announcement is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014.