Recommendation to Trustees of EB

24 March 2016

Impax Asset Management Group plc ('Impax' or the 'Company')

Recommendation to Trustees of EBT in Advance of Close Period

The Company announces that it has provided a recommendation to Sanne Fiduciary Services Limited, the independent trustee of the Impax Asset Management Group plc Employee Benefit Trust 2012, to continue to acquire Impax Ordinary Shares of 1p each ("Impax Shares") in the market to satisfy historical and future share awards to employees.

This recommendation is provided in advance of the Company entering into its close period as defined by the AIM Rules on 31 March 2016. The recommendation expires upon the publication of the Company's interim results for the six month period ended 31 March 2016 on or around 18 May 2016. The recommendation is subject to a pre-agreed maximum price and general availability of Impax Shares in the market.

Given the low levels of liquidity in Impax Shares, the EBT may be the largest purchaser of Impax Shares on any given day.

As at the date of this announcement the Impax Asset Management Group plc Employee Benefit Trust 2012 owns 19,584,847 Impax Shares and the Impax Group Employee Benefit Trust 2004 owns 15,388,353 Impax Shares. In aggregate they own 34,973,200 Impax Shares.

The total number of voting rights in Impax is 127,749,098.

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Enquiries:

Ian Simm Tel: + 44 (0) 20 7434 1122 (switchboard)

Chief Executive

Impax Asset Management Group plc

Norfolk House, 31 St James's Square,

London, SW1Y 4JR

www.impaxam.com

Anne Gilding Tel: +44 (0) 20 7434 1122 (switchboard)

Head of Brand & Communications Tel: +44 (0) 20 7432 2602 (direct)

Impax Asset Management Group plc Tel: +44 (0) 7881 249612 (mobile)

Norfolk House, 31 St James's Square,

London, SW1Y 4JR Email: [email protected]

www.impaxam.com

Guy Wiehahn Tel: +44 (0) 20 7418 8893Nominated Adviser and BrokerPeel Hunt LLP