Total Voting Rights

LEI213800CALFKOEL7N7P10

2 January 2018

Low & Bonar PLC (the "Company")

Total Voting Rights

In accordance with the FCA's Disclosure and Transparency Rule 5.6.1R the Company announces that its issued share capital as at 31 December 2017 consists of 329,776,120 ordinary shares of 5 pence each ('Ordinary Shares') with voting rights, 154,571,152 deferred shares without voting rights and £100,000 6 per cent first cumulative preference stock, £100,000 6 per cent second cumulative preference stock and £200,000 5.5 per cent third cumulative preference stock ('Preference Stock'). Provided that preference dividends remain paid in accordance with the Company's Articles of Association, the Preference Stock does not carry voting rights. The Company does not hold any Ordinary Shares in treasury.

The total number of voting rights in the Company is, therefore 329,776,120.

This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA Disclosure and Transparency Rules.

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