Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

Polypipe 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

Danske Bank A/S

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

Danske Invest Management Company (Société Anonyme)/ Danske Invest FCP Luxembourg

Danske Invest Fund Management Ltd. / Danske Invest Finland

Proxy shares:

Mercer QIF Fund PLC

lnvesteringsforeningen Danske Invest

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

1/12-2014

6. Date on which issuer notified:

2/12-2014

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

3% upwards

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

GB00BKRC5K31

256,716

256,716

6,217,486

0.13%

3.12%

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

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

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

6,474,202

3.25%

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

Danske Invest FCP Luxembourg

13, rue Edward SteichenL-2540 Luxembourg

- A mutual fund under management of

Danske Invest Management Company (Société Anonyme) 13, rue Edward Steichen L-2540 Luxembourg

- a subsidiary 100% owned by

Danske Bank International S.A,

13, rue Edward Steichen

L-2540 Luxembourg

- a subsidiary 100% owned by Danske Bank A/S

Danske Invest Finland

Hiililaiturinkuja 2, P.O. Box 1553,FIN-00180 Helsinki

Finland

- a mutual fund under management of

Danske Invest Fund Management Ltd.

Hiililaiturinkuja 2, P.O. Box 1553, FIN-00180 Helsinki

Finland

- a subsidiary 100% owned by

Danske Bank plc

Hiililaiturinkuja 2, P.O. Box 1568

00075 Danske Bank, Finland

- a subsidiary 100% owned by Danske Bank A/S

Proxy shares given to Danske Capital, a division of Danske Bank A/S (so no seperate legal identity) by:

lnvesteringsforeningen Danske Invest

Parallelvej 17

DK-2800 Kgs. Lyngby

Denmark

Mercer QIF Fund PLC

70 Sir Rogerson's Quay,

Dublin 2

Irland

Proxy Voting:

10. Name of the proxy holder:

Danske Capital, a division of Danske Bank A/S

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

Mercer QIF Fund PLC

712,090 shares

lnvesteringsforeningen Danske Invest Europa Small Cap

314.993 shares

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

N/A

13. Additional information:

14. Contact name:

Danske Bank A/S

15. Contact telephone number:

+45 70 123 456