Director/PDMR Shareholding

Next plc

Notification of Transactions by Person Discharging Managerial Responsibility and Person Closely Associated With Them

The following notification is made under article 19 of the Market Abuse Regulation. On 31 October 2018 the following share options were granted to certain directors/ PDMRs under the Next plc 2009 Sharesave Plan. The exercise price of £43.48 was set in accordance with HMRC rules for sharesave plans.

Each director to which this notification relates has elected for a plan term of 5 years. The sharesave contracts will commence on 1 December 2018 and, subject to the rules of the plan, the options will be exercisable for the period of 6 months following the maturity date of 1 December 2023.

1

Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")

a)

Name

1. Amanda James

2. Jane Shields

3. Lord Wolfson of Aspley Guise

2

Reason for the notification

a)

Position/status

1. PDMR - Finance Director

2. PDMR - Group Sales and Marketing Director

3. PDMR - Chief Executive

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Next plc

b)

LEI

213800WQD8ECPZP9PH98

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Sharesave options over ordinary shares of £0.10 each

Identification code

GB0032089863

b)

Nature of the transaction

Grant of options under the Next plc 2009 Sharesave Plan over the following number of Shares:

1. Amanda James - 249

2. Jane Shields - 282

3. Lord Wolfson of Aspley Guise - 344

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Amanda James

£43.48

249

Jane Shields

£43.48

282

Lord Wolfson of Aspley Guise

£43.48

344

d)

Aggregated information

- Aggregated volume

n/a

- Price

n/a

e)

Date of the transaction

31 October 2018

f)

Place of the transaction

Outside a trading venue