In reference to Section 9, the shares detailed are managed by the named discretionary investment management entity within multiple portfolios on behalf of underlying clients, based on investment management agreements whereby the client has delegated the exercise of the voting power to the referenced investment manager.

This disclosure reflects the fact that the voting rights held indirectly by the underlying intermediate holding company Standard Life Investments (Holdings) Limited ('SLIHL') decreased below a notifiable threshold due to trading on 13 January 2020. SLIHL now effectively holds the delegated voting rights to 16.77% of the shares in Kier Group plc. Prior to this crossing, SLIHL effectively held 17.01% of the delegated voting rights.

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Kier Group plc published this content on 15 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 January 2020 10:22:05 UTC