Waterman Contract Win

WATERMAN GROUP APPOINTED TO MOD's ARMY BASING PROGRAMME UNDER ASPIRE DEFENCE

Waterman Group plc ("Waterman" or "the Group"), the engineering and environmental consultancy, is pleased to announce its appointment to the Ministry of Defence's Army Basing Programme delivered by Aspire Defence which is set to vastly improve the working/living conditions and quality of life for thousands of Army soldiers.

The work, known as the Army Basing Programme (ABP), is an extension of Project Allenby/Connaught (PAC) and covers garrisons across Salisbury Plain and at Aldershot.On 1st November 2016, a construction and facilities management amendment worth over £1.1 billion was announced to the existing 35-year long PAC contract, the largest Private Finance Initiative (PFI) for defence estates let by the Ministry of Defence (MOD) to Aspire Defence Limited in 2006.

Over the next four years under the ABP contract variation, new and enhanced garrison facilities will be completed at Bulford, Tidworth, Perham Down, Larkhill and Aldershot by Aspire Defence Capital Works (ADCW). By 2020, 130 new buildings and over 2,600 additional bed spaces for single soldiers will be created.

Waterman will be retained as engineering designer for over 50% of the development programme. The value of the whole construction programme is anticipated to be circa £680 million.

Nick Taylor, CEO of Waterman Group, states; "We are honoured to be involved in this prestigious scheme which will vastly improve the lives of British soldiers and civilians. We look forward to meeting the challenging requirements of the ABP and continuing to work with this experienced team at Aspire Defence, delivering each building on time and to the high level of quality expected of us."

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Date: 15 November 2016

For further information contact:

Waterman Group plc N+1 Singer Capital Access Group

Nick Taylor, Chief Executive Sandy Fraser Scott Fulton/Jessica Bradford

Alex Steele, Chief Financial Officer 020-7496-3176 020-3763-3400

020-7928-7888

www.watermangroup.com