TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi1. Identity of the issuer or the underlying issuerof existing shares to which voting rights are Lancashire Holdings Ltdattached:ii2. Reason for the notification (please tick the appropriate box or boxes):An acquisition or disposal of voting rights √An acquisition or disposal of qualifying financial instruments which mayresult in the acquisition of shares already issued to which voting rights areattachedAn acquisition or disposal of instruments with similar economic effect toqualifying financial instrumentsAn event changing the breakdown of voting rightsOther (please specify):3. Full name of person(s) subject to the Setanta Asset Managementnotification obligation:iii Limited The Canada Life Assurance Company The Great-West Life Assurance Company London Life Insurance Company Mackenzie Financial Corporation -4. Full name of shareholder(s) (if different from 3.):iv QuadrusSetanta Global Equity Fund Canada Life Assurance Europe Limited Setanta Asset Management Funds plc Irish Life Assurance plc The Reditus Umbrella Exempt Unit Trust Little Company of Mary Limited5. Date of the transaction and date onwhich the threshold is crossed or 23rd May 2014reached: v6. Date on which issuer notified: 27th May 20147. Threshold(s) that is/are crossed or 5%reached: vi, vii8. Notified details:A: Voting rights attached to shares viii, ixClass/type Situation previous Resulting situation after the triggeringof to the triggering transactionshares transaction Number Number Number Number of voting % of voting rightsif possible of of of shares rights xusing Shares Votingthe ISIN Rights Direct Direct Indirect Direct IndirectCODE xi xiiLancashireHoldings Ltd 8,500,501 8,501,501 9,400,501 5.06%BMG5361W1047B: Qualifying Financial InstrumentsResulting situation after the triggering transactionType of Expiration Exercise/ Number of voting % of votingfinancial date xiii Conversion Period xiv rights that may be rightsinstrument acquired if the instrument is exercised/ converted.C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xviResulting situation after the triggering transactionType of Exercise price Expiration Exercise/ Number of voting % of voting rightsfinancial date xvii Conversion rights instrument xix, xxinstrument period refers to xviii Nominal DeltaTotal (A+B+C)Number of voting rights Percentage of voting rights 9,400,501 5.06%9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi N/AProxy Voting: N/A10. 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: Des Murphy15. Contact telephone number: +353-1-6124907