Director/PDMR Shareholding

Ultra Electronics Holdings plc (the "Company")

Ultra Electronics Long Term Incentive Plan 2017

Director/PDMR Shareholding

On 2 July 2018 Simon Pryce was granted an award entitling him to acquire 71,978 ordinary shares of 5 pence each in the Company under the Ultra Electronics Long Term Incentive Plan 2017.

The award is in the form of options with a nil exercise price. Additional shares may be delivered equivalent to the value of dividends received from grant to vesting.

The award will normally vest on the third anniversary of the grant date, subject to continued employment and the satisfaction of performance conditions (each applicable to a quarter of the award) based upon relative total shareholder return (TSR) against constituents of the FTSE 250 index (excluding investment trusts), return on invested capital (ROIC), organic operating profit (OOP), and organic operating revenue (OOR). Vested options are normally exercisable until the day before the 10th anniversary of their grant. Shares acquired that are not sold to fund tax withholding must normally be retained for 2 years from vesting.

The award may also be settled in cash at the discretion of the Remuneration Committee.

No consideration was paid for the grant of the award and no payment is due on the vesting or exercise.

Further information

The above notifications are made in accordance with Article 19 of the Market Abuse Regulation and Rule 3.1 of the Disclosure and Transparency Rules.

Name of contact and telephone number for enquiries: Anant Prakash +44 (0) 02 8813 4321

For and on behalf of Ultra Electronics Holdings plc.

Anant Prakash

General Counsel & Company Secretary

Date: 11 July 2018