Director/PDMR Shareholding

BELLWAY p.l.c. DIRECTORS' SHAREHOLDINGS 9 DECEMBER 2014 The Company was yesterday informed in Newcastle upon Tyne, the followingdirectors acquired 6,058 ordinary 12.5p shares in the Company in relation toparticipation in the Bellway p.l.c. (2008) Share Matching Plan(`the Plan') at aprice of 1888.4p per share as follows: E F Ayres 3,859 K D Adey 2,199 Total 6,058 In addition, in connection with the purchase of such shares (known as"Investment Shares" for the purposes of the Plan) pursuant to the rules of thePlan, the two directors concerned were, on the same day, granted nil costoption awards (known as "Matching Awards") in respect of 22,860 ordinary 12.5pshares in the Company as follows: E F Ayres 14,562 K D Adey 8,298 Total 22,860 The number of shares awarded under the Matching Awards was calculated byreference to the number of Investment Shares acquired in accordance with therules of the Plan. Subject to the terms of the Plan, in the normal course of events the MatchingAwards will vest on the third anniversary of grant subject to the grantee'scontinued service, the retention of the linked Investment Shares and the extentto which performance targets measured over a three year period (`thePerformance Period') are satisfied. The Performance Period to be used commencedon 1 August 2014 and ends on 31 July 2017. To the extent the Matching Awards vest, the underlying nil cost option may beexercised during a six month exercise window commencing on the date of vesting. Following the grant of the Matching Awards, the aforementioned directors havean interest in 61,163 ordinary 12.5p shares under the terms of the Bellwayp.l.c. (2008) Share Matching Plan, as follows: E F Ayres 44,567 (0.036%) K D Adey 16,596 (0.013%) Total 61,163 In addition, following the above transaction, the aforementioned directors havea beneficial interest in 44,812 ordinary 12.5p shares in the Company asfollows: E F Ayres 37,654 (0.030%) K D Adey 7,158 (0.005%) Total 44,812 The other interests of the directors remain unchanged. This notification is made in accordance with DR 3.1.4R(1)(a). Name of contact and telephone number for queries: Kevin Wrightson, Tel: 0191 217 0717For and on behalf of Bellway p.l.c. Kevin WrightsonGroup Company Secretary

Date: 9 December 2014