Holding(s) in Company

For filings with the FSA 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 Verona Pharma plc.attached:ii 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights √ 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 The Wales Life Sciences Investment Fund LPnotification obligation:iii 4. Full name of shareholder(s) The Wales Life Sciences Investment Fund LP (if different from 3.):iv 5. Date of the transaction and date on 24 March 2014which the threshold is crossed orreached: v 6. Date on which issuer notified: 24 March 2014 7. Threshold(s) that is/are crossed or 20.8%reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type Situation previous Resulting situation after the triggeringof to the triggering transactionshares transaction Number Number Number Number of voting % of votingif possible of of of shares rights rights xusing Shares Votingthe ISIN Rights Direct Direct xi Indirect Direct IndirectCODE xii ORDINARY 210,000,000 210,000,000 210,000,000 210,000,000 20.8% SHARES GB00B06GL868 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 price Expiration Exercise/ Number of voting % of votingfinancial date xvii Conversion rights instrument rights xix, xxinstrument period xviii refers to Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 210,000,000 20.8% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi Arthurian Life Sciences SPV GP Ltd acting on behalf of The Wales Life SciencesFund LP Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will cease N/Ato hold: 12. Date on which proxy holder will cease to hold N/Avoting rights: 13. Additional information: Figures are based on total number of voting rights 210,000,000 14. Contact name: Shafia Zahoor 15. Contact telephone number: 020 7887 7646