The Board of Directors of L&G wishes to announce that the Board has on 14 February 2019 received notice in writing dated 13 February 2019 from Messrs. Ernst & Young ("EY") informing their resignation as Auditors of the Company.

Pursuant to Section 281(2) of the Companies Act 2016, their resignation is effective from the date of the notice.

The resignation of EY is a voluntary resignation due to disagreement on audit fees and related costs.

Save for the above, the Board of Directors wishes to inform that the Company is not aware of any other matters that need to be brought to the attention of the shareholders of L&G.

The Company has identified Messrs. KPMG PLT as the replacement Auditors. However, their appointment would only be formalised upon receiving their letter of consent to act as Auditors of the Company.   Further announcement on the proposed change of Auditor will be made by the Company in due course.

This announcement is dated 14 February 2019.