RNS Number : 9890UDrax Group PLC31 March 2023

31 March 2023

Drax Group plc

("Drax" or "the Company")

Symbol: DRX

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

Vesting of Deferred Share Plan Shares

On 30 March 2023, shares in Drax Group plc were issued to Will Gardiner (CEO) and Andy Skelton (CFO) as set forth in the table below.

The issuance was an automatic vesting on conclusion of a three-year vesting period of awards originally granted on 30 March 2020 under the Drax Group plc Deferred Share Plan (the "DSP"). The shares granted in March 2020 represented the deferred element of the annual bonus for the financial year ended 31 December 2019.

The Company was notified on 30 March 2023 that Will Gardiner and Andy Skelton each sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of sharesat 529.43 pence per share. Both Will Gardiner and Andy Skelton retained the balance of the shares as explained below.

Director/PDMR

Total DSP award vesting1

Number of shares sold to meet the tax liability

Net shares retained

Will Gardiner

93,616

44,120

49,496

Andy Skelton

56,930

26,834

30,096

Notes:

1.     Includes shares in lieu of accrued dividends throughout the holding period.

Following the vesting, Will Gardiner holds 742,871 shares in the Company.

Following the vesting, Andy Skelton holds 264,821 shares in the Company.

The information below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

Details of PDMR / person closely associated with them ("PCA")

Name

Will Gardiner

Reason for the notification

Position / status

Group Chief Executive

Initial notification / amendment

Initial Notification

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

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00B1VNSX38

Nature of the transaction

Automatic vesting of the 2020 DSP award and sale of sufficient shares to cover taxes due.

Price(s) and volume(s)

Price(s)

Volume(s)

529.43 pence per share

44,120



Aggregated information

-     Aggregated volume

-     Price

n/a

Date of the transaction

30 March 2023

Place of the transaction

XLON

Details of PDMR / person closely associated with them ("PCA")

Name

Andy Skelton

Reason for the notification

Position / status

Chief Financial Officer

Initial notification / amendment

Initial Notification

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

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00B1VNSX38

Nature of the transaction

Automatic vesting of the 2020 DSP award and sale of sufficient shares to cover taxes due.

Price(s) and volume(s)

Price(s)

Volume(s)

529.43 pence per share

26,834



Aggregated information

-     Aggregated volume

-     Price

n/a

Date of the transaction

30 March 2023

Place of the transaction

XLON

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