Distribution agreement

Impax Asset Management Group plc

Distribution agreement

Impax Asset Management Group plc (the "Company") is pleased to announce that its subsidiary, Impax Asset Management Limited ("IAM") and BNP Paribas Asset Management Holding ("BNPP AM") have agreed to update the arrangements under which BNPP AM and its affiliated companies provide marketing, introduction and other distribution services for IAM.  The new arrangements are described in a distribution agreement (the "Distribution Agreement"), which will have a minimum term of four years, and which supersedes the Memorandum of Understanding (the "MoU") between the parties that has been in place since 2007, with subsequent modifications.  There have been no material changes in the fees set out in the Distribution Agreement compared with those set out in the MoU.  The Distribution Agreement specifies that, with respect to non-institutional clients only, BNPP AM will benefit from exclusivity in Japan, China and certain countries in continental Europe regarding some or all of the five thematic, listed equity strategies that IAM manages, in some countries subject to minimum performance conditions related to the aggregate level of assets raised. With respect to some wholesale clients, IAM and BNPP AM have agreed a modus operandi with a view to collaborate to deliver a high level of service to clients.

As BNPP AM is a substantial shareholder of the Company as defined under the AIM Rules, the entry into the distribution agreement constitutes a related party transaction under Rule 13 of the AIM Rules.

The independent directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms of this transaction to be fair and reasonable insofar as the Company's shareholders are concerned.  Independent directors in relation to the matter are all of the directors of the Company except Arnaud de Servigny, who is not considered independent because of his role as non-executive director at BNP Paribas Asset Management France.

LEI number: 213800AJDNW4S2B7E680

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Notes to Editors - About Impax Asset Management

Impax Asset Management manages or advises on both listed and private markets strategies. The Company's investments are based on the strong conviction that population dynamics, resource scarcity, inadequate infrastructure and environmental constraints will profoundly shape global markets, creating investment risks and opportunities.  Impax expects that these trends, reflecting the transition towards a more sustainable global economy, will drive earnings growth for well-positioned companies. Impax's proprietary investment framework identifies and calibrates the rising risks and expanding opportunities from this transition and guides the search for investments that will deliver long term outperformance.

For further information please visit www.impaxam.com.

Issued in the UK by Impax Asset Management Group plc, whose shares are quoted on the Alternative Investment Market of the London Stock Exchange.  Impax Asset Management Group plc is registered in England & Wales, number 03262305.  AUM relates to Impax Asset Management Limited, Impax Asset Management (AIFM) Limited and Impax Asset Management LLC.  Impax Asset Management Limited and Impax Asset Management (AIFM) Limited are authorised and regulated by the Financial Conduct Authority and are wholly owned subsidiaries of Impax Asset Management Group plc.  Please note that the information provided and links from it should not be relied upon for investment purposes.