TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi1. Identity of the issuer or the underlying issuer Lancashire Holdings Limited of existing shares to which voting rights are attached:ii2. 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 the Frank W. Cawood notification obligation:iii Timothy W. Anders4. Full name of shareholder(s) (if different from 3.):iv Vidacos Nominees Ltd. in respect of the interests for: Frank W. Cawood IRA, Timothy W. Anders 401K Account, Frank W.Cawood & Associates,Inc., The Cawood Foundation, Inc., Gayle R. Cawood IRA, Irrevocable Living Trusts(7)FBO Nathan Paul Cruver, Joelle Rachel Cruver, Andrew Reuben Cruver, Seth David Cruver, Natalie C. Cruver, Benjamin John Cawood, Joseph Louis Cawood, The Cawood Family SO, Inc., Sandra Evans, Sandra Evans, IRA, Miriam McFarland and Peter Sautov5. Date of the transaction and date onwhich the threshold is crossed or March 9, 2015reached: v6. Date on which issuer notified: March 9, 20157. Threshold(s) that is/are crossed or Below 6%reached: vi, vii8. Notified details:A: Voting rights attached to shares viii, ixClass/ Situation previous Resulting situation after the triggering transactiontype of to the triggeringshares transactionif Number Number Number Number of voting % of voting rightspossible of of of shares rights xusing Shares Votingthe ISIN RightsCODE Direct Direct xi Indirect xii Direct IndirectCommonShare 1,989,851 1,989,851 9,704,820 9,704,820 770,393 4.907% 0.390%B: 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 rights % of votingfinancial date xvii Conversion instrument refers to rights xix, xxinstrument period xviii Nominal DeltaTotal (A+B+C)Number of voting rights Percentage of voting rights10,475,213 5.297%9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxiFrank W. Cawoodcontrols the voting rights for the Frank W. Cawood IRA, Frank W.Cawood & Associates, Inc. and for The Cawood Foundation, Inc. Mr. Cawood may bedeemed to have voting control for The Cawood Foundation, Inc. shares, but hedisclaims any beneficial ownership.Timothy W. Anders controls the voting rights for Timothy W. Anders 401K Accountand as the Trustee for Irrevocable Living Trusts (7) FBO Nathan Paul Cruver,Joelle Rachel Cruver, Andrew Reuben Cruver, Seth David Cruver, Natalie C.Cruver, Benjamin John Cawood and Joseph Louis Cawood. Mr. Anders may be deemedto have voting control for Irrevocable Living Trust shares, but he disclaimsany beneficial ownership.Gayle R. Cawood controls the voting rights for the Gayle R. Cawood IRAAccount.Sandra Evans controls the voting rights for the Sandra Evans IRA Account andthe Sandra Evans Account.Miriam McFarland controls the voting rights for the Miriam McFarland Account.Peter Sautov controls the voting rights for the Peter Sautov AccountProxy 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: This information is to the best of our knowledge.13. Additional information: Cashless Exercise of warrants caused lesser percentage.14. Contact name: Timothy W. Anders15. Contact telephone number: 770-487-6307