Successful placing of Rights Issue Rump

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

Great Portland Estates plc (the "Company" or "GPE")

Successful placing of Rights Issue Rump

Following the announcement regarding acceptances under the Rights Issue announced by the Company on 23 May 2024, the Company confirms that BofA Securities, Deutsche Numis and J.P. Morgan Cazenove as Joint Global Coordinators and Joint Bookrunners, and Santander as Co-lead Manager (together with the Joint Global Coordinators and Joint Bookrunners, the 'Underwriters') have procured subscribers for all of the 9,280,331 New Ordinary Shares not validly taken up in the Rights Issue, at a price of 340 pence per New Ordinary Share.

The net proceeds from the placing of such New Ordinary Shares (after the deduction of the Rights Issue Price of 230 pence per New Ordinary Share and the expenses of procuring subscribers including any applicable brokerage and commissions and amounts in respect of VAT which are not recoverable) will be paid (without interest) to those persons whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to the entitlements not taken up, save that no payment will be made of amounts of less than £5.00 per holding, which amounts will be aggregated and ultimately accrue for the benefit of the Company.

Funds and accounts under management by direct and indirect investment management subsidiaries of BlackRock Inc. ("BlackRock") hold more than 10 per cent of the issued ordinary share capital in the Company. Blackrock is therefore a "substantial shareholder" in the Company and is considered to be a 'related party' for the purposes of Listing Rules. The Company notes that BlackRock has agreed to subscribe for 1,200,000 New Ordinary Shares in the placing at the placing price for a total consideration of approximately £4.08 million. This transaction constitutes a 'smaller' related party transaction under Listing Rule 11.1.10 R(1).

Capitalised terms used in this announcement have the meanings given to them in the prospectus dated 24 May 2024 (the "Prospectus"), which is available on the Company's website (www.gpe.co.uk/investors).

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