Provident Financial : Board changes

Provident Financial plc announces new Non-Executive Directors and Board Committee changes

The Board of Provident Financial plc is pleased to announce the appointments of Angela Knight, CBE, Elizabeth G. Chambers and Paul Hewitt as independent Non-Executive Directors with effect from 31^st July 2018.

On her appointment, Angela Knight will become chair of the Group Risk committee, taking over from Stuart Sinclair, who will remain on the committee. Angela is a former Government Minister, CEO, Chair and Non-Executive Director. She is currently the Chair of the Office of Tax Simplification, and has been Economic Secretary to HM Treasury, Chief Executive of the British Bankers Association and Energy UK. She is also Senior Independent Director of TPI CAP plc and Non-Executive Director of Taylor Wimpey plc and Arbuthnot Latham & Co. Her previous Non-Executive Director appointments include Brewin Dolphin Holdings plc, Lloyds TSB plc, LogicaCMG plc, Scottish Widows and Transport for London.

Elizabeth G. (Libby) Chambers will chair the new Board committee focused on customer, culture & ethics. The committee will drive forward changes in behaviours, practices and attitudes across the group, and is expected to be formed in 2018. Libby is an experienced senior financial services executive, strategist and marketing leader in the UK and globally. She serves on the Board of Smith & Williamson, the wealth manager and professional services firm, and is on the Advisory Boards of several fintech and software start-ups, including Datami, Loyalty Angels (Bink) and Digi.me. Her previous roles include serving as Chief Strategy, Product and Marketing Officer at Western Union, Chief Marketing Officer of Barclays Global Retail & Commercial Banking and Barclaycard, and leading Barclaycard's co-branded card issuing business in the UK. Earlier in her career, she held other executive committee-level roles in financial and professional services, and was a Partner in the Financial Institutions practice of McKinsey & Company. She was previously a Non-Executive Director of Dollar Financial Group in the UK, hibu plc (formerly Yell Group Plc) and the Home and Savings Bank, and led the boards of Barclays' JVs with Argos, Thomas Cook and Solutions Personal Finance (Littlewoods).

On his appointment, Paul Hewitt will become chair of the Audit committee, taking over from Andrea Blance, who will remain on the committee. Paul is an experienced Chief Financial Officer (CFO), Chairman and Non-Executive Director. He was the Deputy Chief Executive and CFO of Co-operative Group, and has chaired audit committees for Tokio Marine, Kiln, NEST Corporation, Tesco Bank, Collins Stewart Hawkpoint, Co-operative Banking Group and GMT Global Aviation. He is currently Chairman of Roberts Jackson Group Limited and Kintell Limited, Non-Executive Director and Audit committee Chairman of Charles Taylor plc and Non-Executive Director of Playtech plc (a role from which he is expected to step down from with effect from 1 August 2018) and Kintell Limited.

Stuart Sinclair, Interim Chairman of Provident Financial plc said:

''Angela, Libby and Paul bring Non-Executive, financial, consumer finance and regulatory experience and expertise to the Board. They will enhance the capabilities of the Board, and I on behalf of the Board welcome them and look forward to working with them as the Board and the executive management team drive forward the Group's recovery.'

The new Non-Executive Directors, as well as chairing the respective announced committees, will become members of the Audit, Nomination, Risk and Remuneration committees from appointment and members of the new customer, culture & ethics Board committee once formed.

Stuart Sinclair will step down from the Audit committee with effect from 31^st July 2018, and from the Board on 21^st September 2018, following the appointment of Patrick Chairman as Chairman and non-executive director of the Company. The Remuneration committee Chair and the Senior Independent Director (SID) of Provident Financial plc is Andrea Blance, as previously announced on the 28^th November 2017, and the 2^nd February 2018 respectively.

The following information is disclosed in accordance with LR 9.6.13:

Elizabeth G. Chambers was appointed as a non-executive director of hibu plc (formerly called Yell Group Plc) in January 2012. hibu plc was placed into administration on 27 November 2013 and was dissolved on 23 January 2016.

In accordance with the Listing Rules, there are no further matters requiring disclosure under 9.6.13R of the Listing Rules of the Financial Conduct Authority in relation to the appointments of Angela Knight, CBE, Elizabeth G. Chambers and Paul Hewitt.

Enquiries:

Media

Richard King/ Jade Byrne Provident Financial	01274 351 900
Nick Cosgrove/Simone Selzer, Brunswick	020 7404 5959

Investor Relations

Gary Thompson/Vicki Turner, Provident Financial
[e-mail]
01274 351 900