Director/PDMR Shareholding

22 December 2015

Virgin Money Holdings (UK) plc

(Virgin Money or the Company)

NOTIFICATION OF TRANSACTIONS BY DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

This notification is made in accordance with DTR 3.1.4R(1)(a).

The Trustee of the Virgin Money Employee Benefit Trust notified the Company that it has provided ordinary shares in Virgin Money with a nominal value of 0.01 pence each (the Shares) to the Directors and other Persons Discharging Managerial Responsibilities (together PDMRs) of the Company as set out in the table below. The Shares are provided to satisfy the 3rd deferred tranche of the Virgin Money IPO Incentive Scheme award granted to the PDMRs on 19 December 2013.

Details of the structure of the Company's Remuneration Policy is set out in the Directors' Remuneration Report on pages 120 to 130 of the annual report and accounts for the financial year ended 31 December 2014 (the "Annual Report & Accounts") which was published on 5 March 2015 and which can be found on the Investor Relations page of Company's website www.virginmoney.com.

The Company's nominated broker, Equiniti Financial Services Limited (on behalf of the individuals named below), has notified the Company, on 22 December 2015 that it has sold sufficient shares to pay the income tax and national insurance contributions owed by the PDMRs on this vesting. The net shares are subject to a further six-month hold period before any further sales or transfers can be effected.

In view of the above, the following transactions have therefore been undertaken by the PDMRs in relation to the vesting of share awards:

Enquiries:

Virgin Money Investor RelationsAdam Key020 7111 1311 or [email protected]

Virgin Money Company SecretaryKatie Marshall0191 279 6482 or [email protected]

1 Previously Marian Watson