Termination of Discussions

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

FOR IMMEDIATE RELEASE

4 December 2025

On 13 October 2025, Blackstone Europe LLP ("Blackstone") announced that it was considering its position in relation to Big Yellow which could include a cash offer for the Company.

Subsequently, Blackstone has provided to the Board of Big Yellow today an update on the status of their evaluation of a possible offer and the valuation level at which it could make a proposal. The Board considered this in the context of Big Yellow's strong performance, strategy and business model. It has concluded that there is no basis for continuing discussions with Blackstone.

The Board has indicated to Blackstone the put-up or shut-up deadline of 8 December 2025 will not be extended.

The person responsible for arranging the release of this announcement on behalf of Big Yellow is Shauna Beavis, Company Secretary.

Enquiries:

About Big Yellow Group PLC

Big Yellow is the UK's brand leader in self storage and operates from a platform of 111 stores.  We have a pipeline of 1.0 million sq ft comprising 13 proposed self storage facilities.  The current maximum lettable area of the existing platform is 6.5 million sq ft.  When fully built out the portfolio will provide approximately 7.5 million sq ft of flexible storage space.  99% of our stores and sites by value are held freehold and long leasehold, with the remaining 1% short leasehold.  Currently by revenue 75% of our stores are in London and its commuter towns, with the balance in larger regional conurbations.

Our stores utilise state of the art technology for our digital and operating platforms including security, and we focus on locating our stores in high profile, accessible, main road locations.  We also focus on providing excellent customer service, a highly engaged employee culture, and with significant and increasing investment in sustainability.

Important notice

Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting exclusively for Big Yellow and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Big Yellow for providing the protections afforded to clients of Goldman Sachs International, or for providing advice in connection with the matters referred to in this announcement.

Publication on a website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available on Big Yellow's website at https://corporate.bigyellow.co.uk/index.php, by no later than 12 noon (London time) on the next business day following this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Additional Information

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.  Any offer, if made, will be made solely by certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be accepted.