Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

attached:

Mulberry "MUL LN"

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 the notification obligation:

Tybourne Capital Management (HK) Limited

4. Full name of shareholder(s)

(if different from 3.):

Tybourne Equity Master Fund

Tybourne Long Opportunities Master Fund

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

27 November 2017

6. Date on which issuer notified:

28 November 2017

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

The 1% movement

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

GB0006094303

5,931,740

5,931,740

6,602,240

6,602,240

N/A

11.0

N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/

Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/ converted

% of voting rights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration price

Expiration date

Exercise / Conversion period

Number of voting rights instrument refers to

% of voting rights

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

And

6,602,240

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

Tybourne Capital Management Limited I The Cayman Investment manager delegates authority to Tybourne Capital Managemnt (HK) Limited the Hong Kong advisor

Proxy Voting:

10. Name of the proxy holder:

N/A

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

N/A

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

N/A

13: Additional information

14. Contact name:

Uma Bhugtiar

15. Contact telephone number:

+852 3983 6860