Company Announcements

26 July 2024

NEXT plc (the "Company" or "NEXT")

Section 430 (2B) Companies Act 2006 Statement - Amanda James

As announced on 2 October 2023, Amanda James has stepped down as Group Finance Director of NEXT with effect from the end of 26 July 2024. She will remain an employee of the Company until 26 September 2024.

The following information is provided in accordance with section 430(2B) of the Companies Act 2006 and these arrangements are in line with the Company's Remuneration Policy which was approved by shareholders at the 2023 AGM:

1.    Amanda has not and will not receive any loss of office payments.

2.    The Remuneration Committee has determined that Amanda will be treated as a good leaver in respect of her outstanding share incentive benefits and these will be treated in accordance with the rules of the applicable plans and will remain subject to the terms contained therein.

Long Term Incentive Plan ("LTIP"): Awards made in March and September 2022, 2023 and 2024 will vest on their original vesting dates to the extent that the performance conditions are met. As a good leaver, Amanda's entitlement will be time pro-rated proportionately to her actual period of service. Amanda's other outstanding LTIP award (i.e. made in September 2021) will vest on its original vesting date to the extent that the performance conditions are met.

Sharesave Scheme: outstanding options held under the all-employee Sharesave may be exercised in accordance with the rules of the plan.

The Company's Remuneration Report for the financial year ending January 2025 will include details of remuneration earned by Amanda James as an executive director during the relevant period. The LTIP vesting information will be updated in the January 2025, 2026, 2027 and 2028 Directors' Remuneration Reports.

Seonna Anderson

Company Secretary