TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES i1. Identity of the issuer or the underlying issuer of existing Lancashire Holdings Ltd 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 rightsAn acquisition or disposal of qualifying financial instruments which may resultin the acquisition of shares already issued to which voting rights are attachedAn acquisition or disposal of instruments with similar economic effect toqualifying financial instrumentsAn event changing the breakdown of voting rights XOther (please specify):3. Full name of person(s) subject to the notification Franklin Mutualobligation: iii Advisers, LLC JP Morgan Chase Bank,4. Full name of shareholder(s) N.A., London (if different from 3.): iv Bank of New York,London5. Date of the transaction and date on which the threshold March 11, 2015is crossed or reached: v6. Date on which issuer notified: March 11, 20157. Threshold(s) that is/are crossed or reached: vi, vii Below 5%8. Notified details:A: Voting rights attached to shares viii, ixClass/type of Situation previous Resulting situation after the triggeringshares to the triggering transaction transactionif possible Number Number Number Number of voting % of voting rightsusing of of of shares rights xthe ISIN CODE Shares Voting Rights Direct Direct Indirect Direct Indirect xi xiiORD USD.5 9,772,203 9,772,203 Below 5%BMG5361W1047B: Qualifying Financial InstrumentsResulting situation after the triggering transactionType of financial Expiration Exercise/ Number of voting % of votinginstrument date xiii Conversion rights that may be rights Period xiv 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 Expiration Exercise/ Number of % of voting rights xix,financial price date xvii Conversion voting xxinstrument period rights xviii instrument refers to Nominal DeltaTotal (A+B+C)Number of voting rights Percentage of voting rights Below 5%9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxiProxy Voting:10. Name of the proxy holder:11. Number of voting rights proxy holder will cease to hold:12. Date on which proxy holder will cease to hold voting rights:13. Additional information: Lori A. Weber14. Contact name: Assistant Secretary Franklin Resources, Inc.15. Contact telephone number: 954-847-2283