Prudential : Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and the Singapore Exchange Securities Trading Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated and registered in England and Wales under the number 01397169)

(Stock code: 2378)

OVERSEAS REGULATORY ANNOUNCEMENT

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY

PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Wells
2	Reason for the notification
a)	Position/status	Group Chief Executive (PDMR)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
	auction monitor
a)	Name	Prudential plc
b)	LEI	5493001Z3ZE83NGK8Y12
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	Ordinary shares of 5 pence each
	instrument, type of instrument
	Identification code	GB0007099541
b)	Nature of the transaction(s)	(i) Adjustment of awards granted under the Prudential Long
		Term Incentive Plan with respect to the demerger of M&G
		plc on 21 October 2019,
		(ii) Adjustment of awards granted under the Annual Incentive
		Plan with respect to the demerger of M&G plc on 21 October
		2019,
		based on the valuations of a M&G plc share and a Prudential plc
		share calculated on the five day average share prices from 21 - 25
		October 2019 respectively after demerger.

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c)	Price(s) and volume(s)
	Price(s)	Volume(s)
			(i)	Nil	1,001,428
			(ii)	Nil	188,478
d)	Aggregated information		N/A
	- Aggregated volume
	- Price
e)	Date of the transaction(s)		2019-11-21
f)	Place of the transaction(s)		London Stock Exchange

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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Mark FitzPatrick
2	Reason for the notification
a)	Position/status		Group Chief Financial Officer and Chief Operating Officer
			(PDMR)
b)	Initial notification /Amendment		Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
	auction monitor
a)	Name		Prudential plc
b)	LEI		5493001Z3ZE83NGK8Y12
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		Ordinary shares of 5 pence each
	instrument, type of instrument
	Identification code		GB0007099541
b)	Nature of the transaction(s)		(i) Adjustment of awards granted under the Prudential Long
				Term Incentive Plan with respect to the demerger of M&G
				plc on 21 October 2019,
			(ii) Adjustment of awards granted under the Annual Incentive
				Plan with respect to the demerger of M&G plc on 21 October
				2019,
			based on the valuations of a M&G plc share and a Prudential plc
			share calculated on the five day average share prices from 21 - 25
			October 2019 respectively after demerger.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			(i)		Nil	402,394
			(ii)		Nil	71,929
d)	Aggregated information		N/A
	- Aggregated volume
	- Price
e)	Date of the transactions	2019-11-21
f)	Place of the transactions		London Stock Exchange

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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		James Turner
2	Reason for the notification
a)	Position/status		Group Chief Risk and Compliance Officer (PDMR)
b)	Initial notification /Amendment		Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
	auction monitor
a)	Name		Prudential plc
b)	LEI		5493001Z3ZE83NGK8Y12
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		Ordinary shares of 5 pence each
	instrument, type of instrument
	Identification code		GB0007099541
b)	Nature of the transaction(s)		(i) Adjustment of awards granted under the Prudential Long
				Term Incentive Plan with respect to the demerger of M&G
				plc on 21 October 2019,
			(ii) Adjustment of awards granted under the Annual Incentive
				Plan with respect to the demerger of M&G plc on 21 October
				2019,
			based on the valuations of a M&G plc share and a Prudential plc
			share calculated on the five day average share prices from 21 - 25
			October 2019 respectively after demerger.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			(i)		Nil	267,865
			(ii)		Nil	24,560
d)	Aggregated information		N/A
	- Aggregated volume
	- Price
e)	Date of the transaction(s)	2019-11-21
f)	Place of the transaction(s)		London Stock Exchange

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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Jolene Chen
2	Reason for the notification
a)	Position/status		Group Human Resources Director (PDMR)
b)	Initial notification /Amendment		Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
	auction monitor
a)	Name		Prudential plc
b)	LEI		5493001Z3ZE83NGK8Y12
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		Ordinary shares of 5 pence each
	instrument, type of instrument
	Identification code		GB0007099541
b)	Nature of the transaction(s)		(i) Adjustment of awards granted under the Prudential Long
			Term Incentive Plan with respect to the demerger of M&G
			plc on 21 October 2019,
			(ii) Adjustment of awards granted under the PCA Deferred
			Bonus Plan with respect to the demerger of M&G plc on 21
			October 2019,
			(iii) Adjustment of awards granted under the PCA Long Term
			Incentive Plan with respect to the demerger of M&G plc on
			21 October 2019,
			based on the valuations of a M&G plc share and a Prudential plc
			share calculated on the five day average share prices from 21 - 25
			October 2019 respectively after demerger.
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
			(i)	Nil	42,102
			(ii)	Nil	80,504
			(iii)	Nil	121,083
d)	Aggregated information		N/A
	- Aggregated volume
	- Price
e)	Date of the transaction(s)	2019-11-21
f)	Place of the transaction(s)		London Stock Exchange

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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Michael Falcon
2	Reason for the notification
a)	Position/status		Chief Executive Officer of Jackson Holdings LLC (PDMR)
b)	Initial notification /Amendment		Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
	auction monitor
a)	Name		Prudential plc
b)	LEI		5493001Z3ZE83NGK8Y12
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		American Depositary Receipt ("ADR")
	instrument, type of instrument
	Identification code		74435K204
b)	Nature of the transaction(s)		(i) Adjustment of awards granted under the Prudential Long
				Term Incentive Plan with respect to the demerger of M&G
				plc on 21 October 2019,
			(ii) Adjustment of awards granted under the Annual Incentive
				Plan with respect to the demerger of M&G plc on 21 October
				2019,
			The demerger adjustment was based on the valuation of a M&G
			plc share calculated on the average price on the first five days
			following the demerger (from 21 - 25 October 2019), converted
			into a sum of USD based on the average exchange rate over the
			same period. This sum was divided by the five-day average price
			of a Prudential plc ADR for the period 1 - 7 November 2019. The
			calculation recognised that one Prudential plc ADR represents
			two ordinary shares of Prudential plc.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			(i)		Nil	94,147
			(ii)		Nil	31,033
d)	Aggregated information		N/A
	- Aggregated volume
	- Price
e)	Date of the transaction(s)	2019-11-21
f)	Place of the transaction(s)		New York Stock Exchange

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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Nicolaos Nicandrou
2	Reason for the notification
a)	Position/status		Chief Executive of Prudential Corporation Asia (PDMR)
b)	Initial notification /Amendment		Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
	auction monitor
a)	Name		Prudential plc
b)	LEI		5493001Z3ZE83NGK8Y12
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		Ordinary shares of 5 pence each
	instrument, type of instrument
	Identification code		GB0007099541
b)	Nature of the transaction(s)		(i) Adjustment of awards granted under the Prudential Long
				Term Incentive Plan with respect to the demerger of M&G
				plc on 21 October 2019,
			(ii) Adjustment of awards granted under the Annual Incentive
				Plan with respect to the demerger of M&G plc on 21 October
				2019,
			based on the valuations of a M&G plc share and a Prudential plc
			share calculated on the five day average share prices from 21 - 25
			October 2019 respectively after demerger.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			(i)		Nil	511,620
			(ii)		Nil	128,008
d)	Aggregated information		N/A
	- Aggregated volume
	- Price
e)	Date of the transaction(s)	2019-11-21
f)	Place of the transaction(s)		London Stock Exchange

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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Al-Noor Ramji
2	Reason for the notification
a)	Position/status		Group Chief Digital Officer (PDMR)
b)	Initial notification /Amendment		Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
	auction monitor
a)	Name		Prudential plc
b)	LEI		5493001Z3ZE83NGK8Y12
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		Ordinary shares of 5 pence each
	instrument, type of instrument
	Identification code		GB0007099541
b)	Nature of the transaction(s)		(i) Adjustment of awards granted under the Prudential Long
				Term Incentive Plan with respect to the demerger of M&G
				plc on 21 October 2019,
			(ii) Adjustment of awards granted under the Annual Incentive
				Plan with respect to the demerger of M&G plc on 21 October
				2019,
			based on the valuations of a M&G plc share and a Prudential plc
			share calculated on the five day average share prices from 21 - 25
			October 2019 respectively after demerger.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			(i)		Nil	231,673
			(ii)		Nil	89,825
d)	Aggregated information		N/A
	- Aggregated volume
	- Price
e)	Date of the transaction(s)	2019-11-21
f)	Place of the transaction(s)		London Stock Exchange

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Additional information

Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

Contact

Jennie Webb, Share Plans and Share Capital Manager, [phone]

Chris Smith, Deputy Group Secretary, [phone]

21 November 2019, London

As at the date of this announcement, the Board of Directors of Prudential plc comprises:

Chairman

Paul Victor Falzon Sant Manduca

Executive Directors

Michael Andrew Wells (Group Chief Executive), Mark Thomas FitzPatrick CA and Stuart James Turner FCA FCSI FRM

Independent Non-executive Directors

Sir Howard John Davies, David John Alexander Law ACA, Kaikhushru Shiavax Nargolwala FCA,

Anthony John Liddell Nightingale CMG SBS JP, The Hon. Philip John Remnant CBE FCA, Alice Davey Schroeder, Thomas Ros Watjen, Jane Fields Wicker-MiurinOBE and Amy Yok Tak Yip

* For identification purposes

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