Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

The Gym Group plc

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

An acquisition or disposal of voting rights

X

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 thenotification obligation: iii

Phoenix Equity Partners 2010 Guernsey Limited

4. Full name of shareholder(s) (if different from 3.):iv

Phoenix Equity Partners 2010 L.P

Phoenix Equity Partners 2010 G.P. L.P

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

16/09/16

6. Date on which issuer notified:

19/09/16

7. Threshold(s) that is/are crossed orreached: vi, vii

Holdings declined from 21.1% to 15.3%

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

26,993, 165

26,993,165

0

0

19,634,663

0

15.3%

GB00BZBX0P70

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

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

% of votingrights

NA

NA

NA

NA

NA

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

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

NA

NA

NA

NA

NA

Nominal

Delta

NA

NA

Total (A+B+C)

Number of voting rights

Percentage of voting rights

19,634,663

15.3%

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

Phoenix Equity Partners 2010 Guernsey Limited is the manager of the two partnerships noted below:

Phoenix Equity Partners 2010 L.P. (7,210,949 shares disposed)

Phoenix Equity Partners 2010 G.P. L.P. (147,553 shares disposed)

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

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

13. Additional information:

14. Contact name:

Steve Darrington

15. Contact telephone number:

0207 434 6993