Holding(s) in Company

For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuerof existing shares to which voting rights are PHSC plcattached:ii 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 resultin the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the Downing LLPnotification obligation:iii 4. Full name of shareholder(s) Downing ONE VCT plc (if different from 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 20/04/2015reached: v 6. Date on which issuer notified: 20/04/2015 7. Threshold(s) that is/are crossed or 4% to 3%reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/ Situation previous Resulting situation after the triggering transactiontype of to the triggeringshares transaction if Number Number Number Number of voting % of voting rightspossible of of of shares rights xusing Shares Votingthe ISIN RightsCODE Indirect Direct Direct xi xii Direct Indirect 576,509 576,509 441,509 441,509 3.48%Ordinaryshares B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of votingfinancial date xiii Conversion Period xiv rights that may be rightsinstrument acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting rights % of voting rightsfinancial price date xvii Conversion instrument refers to xix, xxinstrument period xviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 441,509 3.48% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi 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: Grant Whitehouse, Company Secretary 15. Contact telephone number: 0207 416 7780