Holding(s) in company

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i


1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Biffa PLC

1b. Please indicate if the issuer is a non-UK issuer  (please mark with an “X” if appropriate)

Non-UK issuer


2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments


An event changing the breakdown of voting rights


Other (please specify)iii:


3. Details of person subject to the notification obligationiv

Name

Avenue Europe International Management, L.P.

City and country of registered office (if applicable)


4. Full name of shareholder(s) (if different from 3.)v

Name

Avenue – COPPERS Opportunities Fund, L.P.

Avenue Europe Opportunities Master Fund, L.P.

Avenue-SLP European Opportunities Fund, L.P.

Avenue Europe Special Situations Fund II (Euro), L.P.

Avenue Europe Special Situations Fund II (US), L.P.

Avenue ASRS Europe Opportunities Fund, L.P.

Avenue Europe Special Situations Fund III (Euro), L.P.

Avenue Europe Special Situations Fund III (US), L.P.

City and country of registered office (if applicable)


5. Date on which the threshold was crossed or reachedvi:

 25/07/2017

6. Date on which issuer notified (DD/MM/YYYY):

26/07/2017

7. Total positions of person(s) subject to the notification obligation


% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

11.05%

4.25%

15.29%

250,000,000

Position of previous notification (if

applicable)

15.52%

4.25%

19.77%


8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

GB00BD8DR117

    

     27,617,962.00

     10,618,874.00

11.05%

4.25%











SUBTOTAL 8. A

38,236,836


B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expiration
date
x

Exercise/
Conversion Period
xi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

N/A

N/A

N/A

N/A

N/A













SUBTOTAL 8. B 1



B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expiration
date
x

Exercise/
Conversion Period
xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

Contracts for Difference (CfD)

N/A

N/A

N/A

10,618,874

4.25%
















SUBTOTAL 8.B.2

10,618,874


9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii


Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
xiv (please add additional rows as necessary)


Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Avenue Europe International Management, L.P.

11.05

4.25

15.29

Avenue Europe International Management GenPar, LLC

11.05

4.25

15.29

Marc Lasry, Managing Member of the general Partner Avenue Europe International Management, LLP

11.05

4.25

15.29










10. In case of proxy voting, please identify:

Name of the proxy holder


The number and % of voting rights held


The date until which the voting rights will be held



11. Additional informationxvi


Place of completion

New York, NY

Date of completion

26/7/17

X Biffa Logo