Change in Divisional Executive Officer

CHANGE IN DIVISIONAL EXECUTIVE OFFICER

On February 13, 2012, William Montalto provided Sterling Jewelers Inc. ("Sterling"), a wholly-owned subsidiary of Signet Jewelers Limited (the "Company"), with the required notice, pursuant to his Amended and Restated Employment Agreement with Sterling, that he will retire as Executive Vice President and Chief Operating Officer of the Company's US division, effective June 29, 2012.

Ed Hrabak, age 56, will be promoted to Executive Vice President and Chief Operating Officer of the US division, effective June 30, 2012. Mr. Hrabak currently serves as Sterling's Senior Vice President, Merchandising, a position he has held for more than five years. Mr. Hrabak has held positions of increasing management responsibility within Sterling for more than twenty-five years. In connection with his promotion, Mr. Hrabak's annual base salary will increase from $460,100 to $510,000, his maximum annual bonus opportunity will increase from 70% to 100% of his annual base salary, and his long-term incentive award target will increase from approximately 50% to approximately 69% of his annual base salary (subject to a maximum of approximately 104% of Mr. Hrabak's annual base salary).

There is no arrangement or understanding between Mr. Hrabak and any other persons pursuant to which he was appointed as an officer of the Company, and there is no family relationship between Mr. Hrabak and any directors or executive officers of the Company. Mr. Hrabak is not currently engaged, and has not during the last fiscal year been engaged, in any transactions with the Company or its subsidiaries that are required to be disclosed under Item 404(a) of Regulation S-K, nor have any such transactions been proposed.