Director/PDMR Shareholding

1

Details of the person discharging managerial responsibilities /person closely associated

a)

Name

Glynn Phillips

2

Reason for the notification

a)

Position/status

Group Managing Director, Maritime and Land UK

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

BAE Systems plc

b)

LEI

8SVCSVKSGDWMW2QHOH83

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 2.5p each in BAE Systems plc

GB0002634946

b)

Nature of the transaction

Exercise of 27,666 share options under the BAE Systems Long Term Incentive Plan ("LTIP") and the subsequent sale of 9,292 shares, including those to satisfy income tax and NIC liabilities.

c)

Price(s) and volume(s)

Price

Volume

Acquisition of shares on exercise of share option

£4.988

27,666

Shares retained to settle the cost of exercise

£9.179

15,035

Sale of shares, including those sold to satisfy tax liabilities

£9.179

9,292

d)

Aggregated information

- Aggregated volume

- Price

Exercise

Volume:  27,666

Price GBP:  £137,998.00

Shares retained to settle the cost of exercise

Volume:  15,035

Price GBP:  £137,999.89

Shares sold, including those sold to satisfy tax liabilities

Volume: 9,292

Price GBP: £85,287.33

e)

Date of the transaction

2023-02-27

f)

Place of the transaction

XLON - London Stock Exchange