Director/PDMR Shareholding

25 November 2015

McCarthy & Stone plc (the "Company")

Notification of Transactions by

Persons Discharging Managerial Responsibilities

Pursuant to the notification obligations under Disclosure and Transparency Rule 3.1.4, the Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility ("PDMRs") in Ordinary Shares of 8 pence each in the Company ("Shares") on 25 November 2015.

McCarthy & Stone plc Long Term Incentive Plan

On 25 November 2015, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as set out in the table below.

The awards were made as nil-cost options and the number of shares over which each nil-cost option was awarded has been calculated by reference to the Company's IPO Offer Price of 180 pence, as permitted under the LTIP rules and referred to in the IPO prospectus published on 6 November 2015.

These nil-cost options are subject to the rules of the LTIP and will vest depending on performance against Total Shareholder Return ("TSR"), Earnings per Share ("EPS") and Return on Capital Employed ("ROCE") targets as measured over a three year performance period.

The normal date of vesting for these nil-cost options will be 25 November 2018 and the last date for exercise will be 25 November 2025, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP.

For further information on the LTIP, please refer to the prospectus published on 6 November 2015.

Enquiries: Patrick Hole Tel: 01202 508040

Group General Counsel & Company Secretary

McCarthy & Stone plc