Issue of Shares

Macfarlane announces that, in respect of the planned settlement of awards maturing under the Company's 2016 Performance Share Plan ("PSP"), it has issued and allotted, subject to admission to trading, expected on 22 March 2024 ("Admission"), in aggregate 648,000 ordinary shares of 25 pence each in the capital of the Company ("New Ordinary Shares").

The New Ordinary Shares were subscribed for by the Company's employee benefit trust.

Application has been made for the New Ordinary Shares to be admitted to listing on the premium listing segment of the Official List of the Financial Conduct Authority ("FCA") and to be admitted to trading on the main market for listed securities of the London Stock Exchange plc and dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 22 March 2024. The New Ordinary Shares will rank pari-passu with the Company's existing issued ordinary shares.

Total Voting Rights

Following Admission of the New Ordinary Shares, the total number of ordinary shares in issue will be 159,600,000. The Company does not hold any ordinary shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.