SHARESAVE MATURITY. Vectura Group plc Sharesave Maturity 2015 Maturity -1 April 2018 YOU HAVE A CHOICE TO MAKE 3 YEAR SAVINGS CONTRACT

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1 SHARESAVE MATURITY Vectura Group plc Sharesave Maturity 2015 Maturity -1 April 2018 YOU HAVE A CHOICE TO MAKE 3 YEAR SAVINGS CONTRACT

2 You ve got choices You re now invited to make a choice about what you would like to do with the savings in your Sharesave account. The following choices are available to you: Remember - you don t have to make up your mind straight away; you re able to buy shares at the Option Price for up to 6 months following your Maturity Date. Please note however that you ll need to allow sufficient time for the processing of your instructions before your Option lapses and therefore it is recommended that you submit your instructions no later than 21 days prior to the Option Lapse Date. Your Option Lapse date can be found on the account details page when you are logged in to view your account online. Please note that if you decide to exercise your Option and buy the shares, that the value of your shares and any income from them can go down as well as up and that you may not recover the amount of your original investment. Past performance is no indication of future performance. It is recommended that you check the price of Vectura Group plc shares regularly before deciding whether or not to buy shares at the Option Price. Your choices explained 1 Exercise your Option to buy and keep all of the shares at the Option Price Exercise your Option to buy all of the shares at the Option Price and then sell some or all them using the maturity share dealing service provided by Stocktrade Take a refund of the savings in your Sharesave account and not buy any shares at the Option Price Exercise your Option to buy and keep all of the shares at the Option Price If you select this choice, you ll be using the savings in your Sharesave account to buy the Vectura Group plc shares to which you are entitled and to keep them in the form of a share certificate. When your share certificate arrives you have the choice to either hold on to the shares or to sell the shares thorugh a broker of your choosing. If you retain the shares, as a shareholder of Vectura Group plc you ll be entitled to receive dividends (if and when they are paid) and have the chance to vote on important issues at General Meetings of the Company. The exercise of share Options is an involved process and therefore it may take a little time for YBS Share Plans to complete this process with Vectura Group plc and their share registrars. YBS Share Plans cannot be held responsible for any adverse movements in the share price during this period. Once the share Option exercise process is complete you will receive a share certificate in your name. Please allow up to 30 days from the completion of the exercise process for receipt your share certificate. 2 Exercise your Option to buy all of the shares at the Option Price and then sell some or all them using the maturity share dealing service provided by Stocktrade If you select this choice you ll be using the savings in your Sharesave account to buy the Vectura Group plc shares to which you are entitled and to sell some or all of them using the maturity share dealing service provided by Stocktrade Share Dealing Services ( Stocktrade ). Stocktrade will charge you a flat fee of for the sale of your shares, of which YBS Share Plans will receive an 8.00 share to cover their administration costs. This will be deducted from your sale proceeds before the balance is paid directly into the bank account details provided by Vectura Group plc. Stocktrade do not offer cheque settlement. If you decide to sell shares using this service you can set a Limit Price, which is a minimum price below which Stocktrade will not sell your shares. This does not mean that Stocktrade will sell at this price; Stocktrade will sell at the maximum price(s) prevailing at the time the sale is placed in the market. If Stocktrade are unable to sell your shares, due to your Limit Price not being reached, they will contact you and you ll be able to alter your Limit Price by ing them at company.schemes@stocktrade.co.uk or by writing to them at 5th Floor, Atria One, 144 Morrison Street, Edinburgh, EH3 8EX until the close of business on the 10th business day following your originally scheduled sale date. If you do not provide an alternative Limit Price within this timescale your sale instruction will be cancelled and you will receive a share certificate for the relevant number of shares. The sale of your shares will be subject to the Stocktrade Sale Facility Terms and Conditions which can be found online when providing your instruction. Please take the time to read this document before proceeding with this choice.

3 3 Take a refund of the savings in your Sharesave account and not buy any shares at the Option Price You don t have to buy Vectura Group plc shares. If you prefer, you can simply request a refund of your savings. If YBS Share Plans have bank details registered against your Sharesave account your savings will be returned by Faster Payment, otherwise a cheque will be sent to your home address. Please allow up to 10 working days for receipt. For this choice only, you can also call the YBS Share Plans Helpline on and close your account over the phone. If you choose to close your account on or after the Maturity Date and take back your savings, you still retain the right to buy shares at the Option Price for the remainder of the 6 monthly period immediately following your Maturity Date. If you decide to follow this course of action you ll need to call the YBS Share Plans Helpline to make the necessary arrangements. Residual Balance If you decide to buy the shares there will often be a small cash residue remaining in your Sharesave account. This is because it s very unlikely that your savings will divide exactly by the Option Price. You can choose to donate your cash residue to charity (no greater than the value of one more share at the fixed Option Price) or receive a refund of the residue when providing your instructions. If you would like to donate this money to charity (Yorkshire Building Society s Charitable Foundation), please tick the appropriate box when instructing online. To find out more about the work of the Charitable Foundation, visit Selling your shares at a later date If you want to buy and keep your shares (see Choice 1) with a view to selling them at a later date, you can do so by making your own private arrangements with any other broker of your choosing on receipt of your share certificate. these circumstances you ll have 6 months from the deferred Maturity Date, in which to exercise your Option and buy your shares. You may not be able to take advantage of the Stocktrade maturity share dealing service if you have a deferred maturity but you can make your own arrangements to contact any broker once you receive your share certificate. Any instructions received in respect of a deferred maturity will be processed at the first available opportunity following your deferred Maturity Date. Leaving the company? If you re no longer an employee of Vectura Group plc or leave after the Maturity Date but before you ve provided your maturity instructions, you may not be able to buy the shares. This will depend on your reason for leaving and the date on which you left. If you re in any doubt about whether you can buy any shares please contact the YBS Share Plans Helpline on If you re able to buy shares, you must do so within 6 months of leaving Vectura Group plc or within 6 months of the Maturity Date, whichever event comes first. What about tax? Under current legislation there s no Income Tax to pay as a result of buying your shares or taking your savings. You may however have to pay Capital Gains Tax (CGT) if you sell your shares at a profit (this is the difference between the cost of buying your shares and the price you sell them for, minus any sale expenses). HM Revenue & Customs ( HMRC ) currently allows you to make a certain amount of capital gains in each tax year without being taxed. If your gain (which must include any other profit you ve made within the tax year) exceeds the annual exemption limit, you ll have to pay tax on any gain above this limit. The CGT limit for the 2017/2018 tax year is 11,300, however, please be aware that these figures may change for the 2018/2019 tax year. Further information can be found on the HMRC website ( Missed any payments? If you ve missed any payments during the savings period (up to a maximum of 6) your Maturity Date will be deferred by 1 month for every payment that you ve missed and you ll continue to have deductions taken from your pay until you ve completed the 3 year savings contract. In

4 When will I receive my cash or shares? This all depends on the date you provide your instructions to YBS Share Plans the sooner you provide your instructions the sooner you should receive your shares or cash. The table below clarifies when YBS Share Plans need to receive your instructions for the first 3 weekly batches, when your Sharesave account will be closed and if applicable when the sale of your shares is scheduled to take place and the sale proceeds transferred to you. The first sale of shares following maturity is scheduled to take place on 6 April 2018 and you ll need to provide your instructions to YBS Share Plans no later than 23 March 2018 to be included in this batch. There are 2 further weekly sale batches scheduled (please refer to the dates in the timetable below). After the dates advertised below, buy and keep instructions (Choice 1) and buy and sell instructions (Choice 2) will be processed weekly for the remainder of the 6 month period in which you are entitled to buy the shares. If you choose to buy and keep the shares you should allow 30 days from the date YBS Share Plans close your account and transfer the balance to Vectura Group plc for receipt of your share certificate. Batch Deadline for receipt of keep or sell instructions at YBS Share Plans YBS Share Plans close your Sharesave account and transfer balance to Vectura Group plc to cover cost of shares Date shares will be bought/sold by Stocktrade ( Dealing Date ). Batch 1 23 March April April 2018 Batch 2 4 April April April 2018 Batch 3 11 April April April 2018 Stocktrade will usually release your sale proceeds 3 business days after the date your shares are sold (provided they have received settlement from the market) and the money should be in your account another 2 or 3 business days after this. Where late settlement occurs, there may be a delay to the receipt of your sale proceeds for which Stocktrade will not be held accountable. A contract note confirming details of the sale will be posted to the address provided with your instructions. Please note all dates are subject to change. YBS Share Plans cannot be held responsible for any changes to advertised dates which are outside their control nor any resulting loss. Dealing Restrictions If you ve been notified by Vectura Group plc that you re subject to its employee share dealing rules, you must comply with the requirements of those rules and seek clearance in accordance with the rules before proceeding with any transaction. All staff will be subject to the general law regarding insider dealing e.g. dealing when in possession of inside information.

5 Made up your mind? Once you ve decided what you would like to do, you need to submit your instructions by using the secure online facility provided by YBS Share Plans. Please visit to submit your Go online You ll need to register to view your account online before you re able to provide your instructions (unless you ve already registered previously). You ll need your Sharesave account number to hand and will be asked to provide some security information. Registration will only take a few minutes of your time. Once registered your login details will be sent to you through the post and you ll then be able to provide your instructions. Once you ve logged in you ll need to select the maturing Sharesave account in the account view section, click on Closure Options, make your choice and then follow the onscreen instructions to complete the cash or shares closure process. You ll receive an confirmation once you ve successfully submitted your instructions. YBS Share Plans will use an electronic system to verify your identity when you provide your maturity instruction online. For further details about this and how to provide your instructions please refer to the Online Instructions Guide at

6 Contact Details YBS Share Plans The Vectura Group plc Sharesave is administered by YBS Share Plans. If you have any queries about your Sharesave account, you may contact them at: YBS Share Plans Yorkshire Building Society Yorkshire House Yorkshire Drive Bradford BD5 8LJ Or By calling the YBS Share Plan Helpline on (Lines open 8.30am-5.30pm Mon-Fri, 9am-1pm Sat) Excluding Public Holidays in England and Wales. Stocktrade If you have any queries about the sale of your shares or the services offered by Stocktrade, you can contact them directly at: Stocktrade, 5th Floor, Atria One, 144 Morrison Street, Edinburgh, EH3 8EX ( company.schemes@stocktrade.co.uk) Or By calling the Stocktrade Company Services Department on: Lines are open Monday to Friday 8.00am to 4.30pm. Calls may be recorded for training and security purposes. Stocktrade is a division of Alliance Trust Savings Limited, which is a subsidiary of Alliance Trust PLC and is registered in Scotland No. SC 98767, registered office, PO Box 164, 8 West Marketgait, Dundee DD1 9YP; is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number Alliance Trust Savings gives no financial or investment advice. General Information: No information contained within this document or any accompanying document should be taken as providing any advice or as a recommendation to exercise or not to exercise your Option or, having exercised, to sell or not to sell your shares the choice is yours. Neither Vectura Group plc, YBS Share Plans or Stocktrade can advise you on the best course of action for you in your particular circumstances. Tax rules and legislation can change. Tax relief, which is referred to in this document, are those currently available and will depend upon your individual circumstances. If you are in any doubt as to the legal, financial or taxation implications (including any Capital Gains Tax considerations and the collection of such taxes) for you of the exercise of Options, and/or the subsequent sale of shares, or the suitability of the maturity share dealing service, you should seek the advice of a qualified Independent Financial Adviser duly authorised under the Financial Services and Markets Act Please remember that the price of shares, and the income from them, can go down as well as up, and that you may not recover the amount originally invested. It is advisable to keep copies of all documentation sent to YBS Share Plans and Vectura Group plc in relation to the exercise of your Option as you may need to refer to this information when completing future tax returns. YBS Share Plans is part of Yorkshire Building Society. YBS Share Plans, Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Tel: Fax: ybsshareplans.co.uk. Yorkshire Building Society provides Share plan trustee administration services, including deposit taking in England and subject to English law and regulation. We are not responsible for Share plan deposits held by local savings carriers outside the UK. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Yorkshire Building Society is entered in the Financial Services Register under registration number Head Office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Yorkshire Building Society is a member of the Financial Ombudsman Service. Further details are available on request from the Society. All communications with Yorkshire Building Society may be monitored/recorded to improve the quality of their service and for your protection and security. Calls to 03 numbers are charged at the same standard network rate as 01 or 02 landline numbers, even when calling from a mobile.