PRE-CLOSE UPDATE

30 June 2016

JOHN LAING GROUP plc

PRE-CLOSE UPDATE

John Laing Group plc ("John Laing" or "the Group"), the international originator, active investor and manager of infrastructure projects, today issues a pre-close update for the half-year ending 30 June 2016.

Highlights

· Total investment commitments to date of £76 million

· Full year guidance for investment commitments maintained, namely in line with £180.5 million achieved in 2015

· Investment realisations to date of £57.7 million

· Full year guidance maintained, namely proceeds of approximately £100 million, excluding £19.5 million transaction agreed in February 2016

· Sale of UK activities of Project Management Services announced on 21 June 2016

Investment Activity

· Strong levels of bidding activity in each of our core markets: Europe (including the UK), North America and Asia Pacific

· Investment commitments year to date:

o A6 PPP road project (Netherlands): £9 million

o Hornsdale Wind Farm phase 2 (Australia): £6 million

o Llynfi Wind Farm (UK): £24 million (contractual close)

o Intercity Express Programme ("IEP") Phase 1 (UK - increase in shareholding): £37 million

· PPP: Exclusive / shortlisted positions totalling approximately £80 million on opportunities with the potential to be committed in H2 2016

· Renewable energy: Exclusive / shortlisted positions totalling approximately £130 million on opportunities with the potential to be committed in H2 2016

Realisations

· As agreed in February 2016, two investments sold in first half to JLIF for combined proceeds of £19.5 million:

o British Transport Police (54.17% holding)

o Oldham Housing (95% holding)

· Disposal of investment in Dungavel Wind Farm (100% holding) to JLEN announced today for gross proceeds of £38.2 million

· Other realisations in progress

Investment Portfolio

· New Royal Adelaide Hospital: construction close to completion but contractor incurring delays in achieving commercial acceptance; the impact on John Laing's portfolio valuation is not expected to be material.

· Other major projects under construction progressing according to schedule: five trains are now undergoing testing in the UK for Phase 1 of IEP

· Operational projects performing in line with expectations

· Two investments have moved from the primary to the secondary investment portfolio in the year to date: Rammeldalsberget Wind Farm (Sweden) and New Albion Wind Farm (UK)

Pension Fund

· £18m cash contribution in first half

· Reduction in estimated IAS 19 discount rate: 3.25% at 31 May 2016 versus 3.75% at 31 December 2015

· Actuarial valuation at 31 March 2016 underway, but not expected to be concluded until late Q3 or Q4

Corporate Banking Facility

· Increased funding flexibility through increase in facility from £350 million to £400 million in June 2016

Outlook

· John Laing remains well positioned for future growth

· Strong pipeline of new investment opportunities in PPP, renewable energy and selected other closely-linked infrastructure sectors

· Market for disposal of secondary infrastructure investments remains strong

Olivier Brousse, John Laing's Chief Executive, said:

"I am pleased with the progress we have made year to date and see significant future growth potential across the infrastructure markets where we operate. We note the outcome of the UK's EU referendum, but we are an increasingly international business with a well-diversified portfolio and are working on attractive opportunities in each of our three geographical markets: Europe (including the UK), North America and Asia Pacific. Our focus is on increasing the value of our existing portfolio and continuing to invest in and manage the development of new greenfield infrastructure assets."

The Group's results for the six months ending 30 June 2016 will be announced on 25 August 2016.

Further information

www.laing.com

Analyst/investor enquiries:

Olivier Brousse, Chief Executive +44 20 7901 3200

Patrick O'D Bourke, Group Finance Director +44 20 7901 3200

Tom Randell, Head of Investor Relations and Communications +44 20 7901 3200

Media enquiries:

James Isola, Maitland +44 20 7379 5151

Appendix I : investment commitments and realisations year to date

JLIF = John Laing Infrastructure Fund

JLEN = John Laing Environmental Assets Group

Appendix II: exchange rates at 31 December 2015 and at 29 June 2016