Holding(s) in Company

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii

Cairn Homes Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

ü

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation: iii

JPMorgan Asset Management Holdings Inc.

4. Full name of shareholder(s)

(if different from 3.): iv

JPMorgan Asset Management (UK) Limited

J.P. Morgan Investment Management Inc.

JPMorgan Chase Bank, National Association

5. Date of the transaction and date on which the threshold is crossed or reached: v

15 June 2015

6. Date on which issuer notified:

17 June 2015

7. Threshold(s) that is/are crossed or

reached: vi, vii

3%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

IE00BWY4ZF18

Below 3%

Below 3%

14,317,680

3.33%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/ConversionPeriod xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate xvii

Exercise/Conversionperiod xviii

Number of votingrights instrumentrefers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

 14,317,680

 3.33%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Total disclosable holding for JPMorgan Asset Management Holdings Inc.: 14,317,680 (3.33%)

Holdings by controlled undertakings of JPMorgan Asset Management Holdings Inc. are as follows:

JPMorgan Asset Management (UK) Limited: 13,207,350 (3.07%)

J.P. Morgan Investment Management Inc.

JPMorgan Chase Bank, National Association

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

 Done at London on 17 June 2015

14. Contact name:

 Evangelos Galiatsatos

15. Contact telephone number:

 T: +44 207 742 6148