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

FAIRPOINT GROUP 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):

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

HARGREAVE HALE LIMITED

4. Full name of shareholder(s)

(if different from 3.):^iv

DISCRETIONARY CLIENTS

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

04 SEPTEMBER 2015

6. Date on which issuer notified:

07 SEPTEMBER 2015

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

19%

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

Indirect

Direct
^xi

Indirect
^xii

Direct

Indirect

GB0032360280

8,748,925

8,748,925

8,148,925

8,148,925

18.2768%

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

8,148,925

18.2768%

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

8,000,000 of these shares are held for unit trusts operated by Marlborough Fund Managers Ltd, for whom Hargreave Hale Ltd manages the investments on a discretionary basis. The remaining balance is held on behalf of other discretionary clients.

Proxy Voting:

10. Name of the proxy holder:

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:

14. Contact name:

David Clueit, Hargreave Hale Ltd

15. Contact telephone number:

01253 754739