DISCLAIMER – IMPORTANT

IMPORTANT NOTICE

Due to legal restrictions, the contents of the following web pages are not directed at or accessible by persons who are located in the United States, Canada, Australia, New Zealand, Japan or South Africa.

Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of persons may be allowed to view such materials. Any person resident outside the United Kingdom who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

In particular, the information contained in this section of the website does not constitute or form a part of any offer of securities for sale or a solicitation of an offer to purchase securities in the United States, Canada, Australia, New Zealand, Japan or South Africa or any other jurisdiction in which such offers or sales are unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The shares of Vectura Group plc ("Vectura") described in these materials (the "Securities") have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or with any other securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. There will be no public offer of the Securities in the United States.

None of the information contained on the following pages nor any copy thereof may be taken or transmitted in or into the United States or distributed, directly or indirectly, in or into the United States. Persons present in the United States are not permitted to access this section of the website and should exit it immediately.

The Securities will not be registered under the applicable securities laws of any state, province, territory, county or jurisdiction of Canada, Australia, New Zealand, Japan, or South Africa. Accordingly, unless an exemption under the relevant securities law is applicable, any such Securities may not be offered, sold, transferred or delivered, directly or indirectly, in or into Canada, Australia, New Zealand, Japan, or South Africa or any other jurisdiction in which such offers or sales are unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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