| FORM 8.5 (EPT/NON-RI) |
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| PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN |
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| EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS |
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| (OR WHERE RI STATUS IS NOT APPLICABLE) |
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| Rule 8.5 of the Takeover Code (the "Code") |
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| 1. | KEY INFORMATION | ||||||||||||||||||
| (a) | Name of exempt principal trader: | | BARCLAYS CAPITAL SECURITIES LTD | ||||||||||||||||
| (b) | Name of offeror/offeree in relation to whose | SHAFTESBURY PLC | |||||||||||||||||
| | relevant securities this form relates: | ||||||||||||||||||
| (c) | Name of the party to the offer with which exempt | Capital & Counties Properties plc | |||||||||||||||||
| | principal trader is connected | | |||||||||||||||||
| (d) | Date position held/dealing undertaken: | 12 May 2022 | |||||||||||||||||
| (e) | In addition to the company in 1(b) above, is the exempt principal | YES: |
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| | trader making disclosures in respect of any other party to the offer? | CAPITAL & COUNTIES PROPERTIES PLC | |||||||||||||||||
| 2. | POSITIONS OF THE EXEMPT PRINCIPAL TRADER |
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| (a) | Interests and short positions in the relevant securities of the offeror or offeree |
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| to which the disclosure relates following the dealing (if any) |
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| Class of relevant security: | 25p ordinary | | |
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| | Interests | Short Positions |
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| | Number | (%) | Number | (%) |
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| (1) | Relevant securities owned | | | | |
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| | and/or controlled: | 174,951 | 0.05% | 2,352,559 | 0.61% |
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| (2) | Cash-settled derivatives: | | | | |
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| | | | 7,230,256 | 1.88% | 81,921 | 0.02% |
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| (3) | Stock-settled derivatives (including options) | | | | |
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| | and agreements to purchase/sell: | 345528.52 | 0.90% | 0 | 0.00% |
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| | TOTAL: | | 7,750,736 | 2.83% | 2,434,480 | 0.63% |
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| (b) | Rights to subscribe for new securities (including directors and other executive |
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| options) |
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| Class of relevant security in relation to | |
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| which subscription right exists | |
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| Details, including nature of the rights | |
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| concerned and relevant percentages: |
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| 3. | DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER | ||||||
| (a) | Purchases and sales | | | | | ||
| Class of relevant | | Purchase/sale | | Total number of | | Highest price per unit | Lowest price per unit |
| security | | | | securities | | paid/received | paid/received |
| 25p ordinary | Purchase | 37,343 | 5.6459 GBP | 5.55 GBP | |||
| 25p ordinary | Sale | 25,758 | 5.6350 GBP | 5.6 GBP | |||
| (b) | Cash-settled derivative transactions | | |||||
| Class of | | Product | | Nature of dealing | | Number of | Price per |
| relevant | | description | | | | reference | unit |
| security | | | | | | securities | |
| 25p ordinary | CFD | Decreasing Long | 233 | 5.6459 GBP | |||
| 25p ordinary | SWAP | Decreasing Long | 1,509 | 5.6123 GBP | |||
| 25p ordinary | SWAP | Decreasing Long | 1,630 | 5.6007 GBP | |||
| 25p ordinary | SWAP | Decreasing Long | 1,635 | 5.6124 GBP | |||
| 25p ordinary | CFD | Decreasing Long | 1,949 | 5.6457 GBP | |||
| 25p ordinary | CFD | Decreasing Long | 2,183 | 5.6181 GBP | |||
| 25p ordinary | SWAP | Decreasing Long | 2,236 | 5.6073 GBP | |||
| 25p ordinary | SWAP | Decreasing Long | 3,531 | 5.6129 GBP | |||
| 25p ordinary | SWAP | Decreasing Long | 4,260 | 5.6044 GBP | |||
| 25p ordinary | SWAP | Decreasing Long | 4,495 | 5.6114 GBP | |||
| 25p ordinary | CFD | Decreasing Long | 10,989 | 5.6440 GBP | |||
| 25p ordinary | SWAP | Decreasing Short | 300 | 5.5700 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 8 | 5.6199 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 10 | 5.6299 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 22 | 5.6149 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 290 | 5.5870 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 351 | 5.5488 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 1,414 | 5.6164 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 7,594 | 5.6000 GBP | |||
| 25p ordinary | SWAP | Increasing Long | 10,639 | 5.6144 GBP | |||
| 25p ordinary | SWAP | Increasing Short | 737 | 5.5993 GBP | |||
| (c) | Stock-settled derivative transactions (including options) | ||||||
| (i) | Writing, selling, purchasing or varying |
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| Class | Product | Writing, | Number | Exercise | Type | Expiry | Option |
| of | description | purchasing, | of | price | | date | money |
| relevant | | selling, | securities | per unit | | | paid/ |
| security | | varying etc | to which | | | | received |
| | | | option | | | | per unit |
| | | | relates | | | | |
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| (ii) | Exercising |
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| Class of relevant | Product description | Exercising/ exercised against | Number of | Exercise price per | |||
| security | | | | securities | unit | ||
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| (d) | Other dealings (including subscribing for new securities) | ||||||
| Class of relevant | | Nature of Dealings | | Details | Price per unit (if | | |
| security | | | | applicable) | | ||
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| 4. | OTHER INFORMATION | ||||||
| (a) | Indemnity and other dealings arrangements | ||||||
| Details of any indemnity or option arrangement, or any agreement or understanding, | |||||||
| formal or informal, relating to relevant securities which may be an inducement to deal | |||||||
| or refrain from dealing entered into by the exempt principal trader making the disclosure and any party | |||||||
| to the offer or any person acting in concert with a party to the offer: | |||||||
| NONE | |||||||
| (b) | Agreements, arrangements or understandings relating to options or derivatives | ||||||
| Details of any agreement, arrangement or understanding, formal or informal, between | |||||||
| the exempt principal trader making the disclosure and any other person relating to: | |||||||
| (i) the voting rights of any relevant securities under any option; or | |||||||
| (ii) the voting rights of future acquisition or disposal of any relevant securities to which | |||||||
| any derivative is referenced: | | | | ||||
| NONE | |||||||
| (c) | Attachments |
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| Is a Supplemental Form 8 (Open Positions) attached? | YES | ||||||
| Date of disclosure: | 13 May 2022 | | | | |||
| Contact name: | Large Holdings Regulatory Operations | ||||||
| Telephone number: | 020 3134 7213 | | | ||||
| SUPPLEMENTAL FORM 8 (OPEN POSITIONS) | ||||||||
| DETAILS OF OPEN OPTION AND DERIVATIVE POSITIONS, AGREEMENTS TO | ||||||||
| PURCHASE OR SELL ETC. | ||||||||
| Note 5(i) on Rule 8 of the Takeover Code (the "Code") | ||||||||
| 1. | KEY INFORMATION | |||||||
| Identity of the person whose positions/dealings | BARCLAYS CAPITAL SECURITIES LTD | |||||||
| are being disclosed: | ||||||||
| Name of offeror/offeree in relation to whose | SHAFTESBURY PLC | |||||||
| relevant securities this from relates: | ||||||||
| 2. | OPTIONS AND DERIVATIVES | |||||||
| Class | | Product | Writing, | Number | Exercise | Type | Expiry | |
| of | | description | purchasing, | of | price | | date | |
| relevant | | | selling, | securities | per unit | | | |
| security | | | varying etc | to which | | | | |
| | | | | option | | | | |
| | | | | relates | | | | |
| 25p ordinary | Exchangeable Bond | Long | 345528.52 | n/a | n/a | 30 Mar 2026 | ||
| 3. | AGREEMENTS TO PURCHASE OR SELL ETC. | |||||||
| Full details should be given so that the nature of the interest or position can be fully | ||||||||
| understood: | | | | | | |||
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