Disposal

4th November 2016

John Laing Group plc ("John Laing") disposal of shareholding in A1 motorway project in Poland

John Laing Group plc ("John Laing"), the international originator, active investor and manager of infrastructure projects, today announces it has entered into an agreement to dispose of its 29.69% investment in Gdansk Transport Company S.A. ("GTC"), the owner and operator of the A1 motorway project in Poland, to FS Amber Holdings B.V., an indirect wholly owned subsidiary of the European Diversified Infrastructure Fund II SCSp, which is managed by First State Investments, for €146.9 million (£131.0 million). The consideration will be satisfied in cash and the proceeds will mainly be used by John Laing to enable future investment in greenfield infrastructure projects in line with its business model.

The A1 motorway project in Poland comprises two phases:

· Phase 1 - approximately 90km from Gdansk to Nowe Marzy in northern Poland

· Phase 2 - an extension of approximately 60km to Torun at the southern end of the motorway

As at 31 December 2015, the gross assets of GTC were PLN 7,319 million (£1,508 million) and its net profits for the year then ended were PLN 142 million (£29 million).

Completion of the disposal is subject to obtaining various consents and satisfying certain conditions and is not currently expected to occur until the first quarter of 2017.

The consideration for the disposal of €146.9 million (of which approximately €2.2 million may be deferred) may be reduced by the amount of any dividend or other distribution paid or declared by GTC after the date of this announcement which is retained by John Laing. The final consideration is also subject to certain adjustments which could result in an increase of up to €1.7 million or a reduction of no more than €4.5 million.

John Laing has given guidance for total realisations in 2016 of approximately £100 million (excluding proceeds of £19.5 million from two realisations agreed in February 2016). Year to date, John Laing has achieved realisations of £56 million towards this guidance and is currently working on other disposal processes which, combined with its realisations to date, are capable of meeting its £100m guidance.