TR1 Notification of Major Interest in Shares

For filings with the FCA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

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

Circassia Pharmaceuticals Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

√

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

CHANGE TO THE NUMBER OF VOTING RIGHTS IN ISSUE, FOLLOWING THE RECENT PLACING AND OPEN OFFER

√

3. Full name of person(s) subject to the
notification obligation: ⁱⁱⁱ

Aviva plc & its subsidiaries

4. Full name of shareholder(s)
 (if different from 3.):^iv

Registered Holder:

BNY Norwich Union Nominees Limited  1,799,587*

Chase (GA Group) Nominees Limited    16,663,358*

Chase Nominees Limited                             108,046*

Available on Request                                       5,000*

* denotes direct interest

BNY (Nominees) Limited                            127,294

Chase (GA Group) Nominees Limited         535,385

Chase Nominees Limited                             815,323

Vidacos Nominees Limited                       1,899,303

5. Date of the transaction and date on
which the threshold is crossed or
reached: ^v

11 June 2015

6. Date on which issuer notified:

12 June 2015

7. Threshold(s) that is/are crossed or
reached: ^{vi, vii}

5% to 6% Change at Direct Interest Level

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

Ordinary Shares
GB00BJVD3B28

11,811,291

11,811,291

21,953,296

18,575,991

3,377,305

6.52%

1.19%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

21,953,296

7.71%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: ^xxi

The voting rights are managed and controlled by Aviva Investors Global Services Limited and Friends Provident International Limited, with the following chains of controlled undertakings:-

Aviva Investors Global Services Limited:

·      Aviva plc (Parent Company)

·      Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)

·      Aviva Investors Holdings Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

·      Aviva Investors Global Services Limited (wholly owned subsidiary of Aviva Investors Holdings Limited)

Friends Provident International Limited:

·      Aviva plc (Parent Company)

·      Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)

·      Aviva Life Holdings UK Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

·      Friends Life FPG Limited (wholly owned subsidiary of Aviva Life Holdings UK Limited)

·      Friends Life FPL Limited (wholly owned subsidiary of Friends Life FPG Limited)

·      Friends Life Limited (wholly owned subsidiary of Friends Life FPL Limited)

·      Friends Life and Pensions Limited (wholly owned subsidiary of Friends Life Limited)

Friends Provident International Limited (wholly owned subsidiary of Friends Life and Pensions Limited)

Proxy Voting:

10. Name of the proxy holder:

See Section 4

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:

13. Additional information:

Figures are based on a total number of voting rights of  284,889,171 as per the Company's Total Voting Rights Update Announcement of 11 June 2015.

14. Contact name:

Julien Cotta

15. Contact telephone number:

01865 405560