RNS Number : 6937N

Galliford Try Holdings PLC

02 February 2021

Galliford Try Holdings plc

("Galliford Try")

Update Statement on 2020 AGM results

Galliford Try issues this further statement in relation to the 2020 AGM vote on the Directors' Remuneration Report (Resolution 2).

At Galliford Try's AGM held on 13 November 2020, the advisory vote on the Directors' Remuneration Report (Resolution 2) was passed by shareholders with 64.43% voting in favour. In consultation with major shareholders and proxy advisors, the Board understands that shareholders' concern was the Finance Director's 2019/20 annual bonus where 50% was based on the successful completion of the disposal of the Group's housebuilding divisions in January 2020.

Whilst appreciating the view of many shareholders that 'transaction-focused' measures should not be regularly included in Executive Director incentives, the Remuneration Committee's decision to base half of the Finance Director's 2019/2020 annual bonus on the successful completion of the disposal reflected that this transformational corporate transaction represented a significant focus of the Finance Director's duties and responsibilities in the 2019/20 financial year. In making the award in respect of the disposal, the Remuneration Committee carefully considered the one-off nature of the transaction in the context of the Finance Director's wider contribution and the underlying performance of the Group. This decision was permitted under the remit of the Remuneration Committee and the Company's Remuneration Policy.

The Board will continue to engage with shareholders to ensure their views are fully understood and considered and can be taken into account by the Committee in the future.

For further enquiries:

Galliford Try Holdings   Kevin Corbett, General Counsel 
 plc                      & Company Secretary              01895 855001 

Note to Editors

Galliford Try is a trading name of Galliford Try Holdings plc, a leading UK construction group listed on the London Stock Exchange. Operating as Galliford Try and Morrison Construction, the group carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK.

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February 02, 2021 07:00 ET (12:00 GMT)

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