TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

For filings with the FCA 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 areattached: ii

Brady 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

Coltrane Asset Management, L.P.

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

Coltrane Master Fund, L.P.

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

January 18, 2017

6. Date on which issuer notified:

January 19, 2017

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

Increasing above 9%

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

Common Equity

(ISIN:GB00B0188P35)

7,175,000

7,175,000

8,220,000

8,220,000

N/A

9.9%

N/A

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

8,220,000

9.9%

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

Coltrane Asset Management, L.P.Mandeep MankuColtrane Domestic Fund, L.P.Coltrane Offshore Fund, L.P.Coltrane Asset Management Holdings, Ltd.Coltrane GP, LLCColtrane Master Fund, L.P.: 9.9%

Proxy Voting:

10. Name of the proxy holder:

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

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

13. Additional information:

14. Contact name:

George Cairoli

15. Contact telephone number:

1(212)259-6042

Note: Annex should only be submitted to the FCA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Coltrane Asset Management, L.P.

Contact address

(registered office for legal entities)

94 Solaris Avenue Camana Bay, Grand Cayman KY1-1108Cayman Islands

Phone number & email

1(212)259-6042

[email protected]

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

George Cairoli

Contact address

250 W 55th Street, Suite 16CNew York, NY 10019United States

Phone number & email

1(212)259-6042

[email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FCA website.