Michelmersh Brick Holdings PLC will seek shareholder approval for a share repurchase program in the company's Annual General Meeting to be held on May 22, 203. Under the program, the company will repurchase up to 5,822,715 ordinary shares, representing 10% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share shall be the lower of the nominal value or an amount not less than 5% below the average of the middle market quotations for an ordinary share, as derived from the AIM section of the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the ordinary share is purchased.

The maximum price (exclusive of expenses) which may be paid for each ordinary share shall not be more than 5% above the average of the middle market quotations for an ordinary share, as derived from the AIM section of the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the ordinary share is purchased. Unless previously varied, revoked or renewed, the share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting in 2014 or after 15 months from this repurchase program.