Circular and Notice of General Meeting

As previously announced on 22 May 2026 in the Company's announcement of Annual Results for the year ended 31 March 2026 (the "2026 Results Announcement"), the Company proposes to return up to £17 million to Shareholders through a combination of a capital return B Share Scheme and a share buyback programme. This amount reflects over half of the approximately £31 million profit realised on the completion of the sale of 100 New Bridge Street, EC4, in line with the Company's intention stated in the annual results for the year ended 31 March 2025.

Publication of the Circular

The Company today announces the publication of an explanatory circular (the "Circular") containing a notice of General Meeting of the Company, together with details of:

• the proposed return of approximately £12 million of capital to Shareholders through the issue of a new class of redeemable B Shares which the Company expects to redeem in cash for 9.72 pence per Existing Ordinary Share (the "B Share Scheme"); and
• a 100 for 105 share consolidation of the Company's ordinary share capital which will accompany the B Share Scheme (the "Share Consolidation").

The B Share Scheme and Share Consolidation are subject to the approval of the Shareholders and, accordingly, a copy of the Circular and a question and answer document regarding the B Share Scheme and the Share Consolidation can be found on www.helical.co.uk. Printed copies of the Circular (or, depending on Shareholders' communication preferences, a letter or email giving details of the website where the Circular may be accessed) are being sent to Shareholders today.

The B Share Scheme and Share Consolidation are also subject to customary conditions, including but not limited to no material deterioration in market conditions or the financial position of the Company.

The General Meeting of the Company to approve the B Share Scheme, Share Consolidation and associated resolutions regarding the share capital of the Company will be held at 22 Ganton Street, London W1F 7FD, United Kingdom, at 9.15 a.m. on Thursday 16 July 2026 (or 15 minutes after the Company's 2026 annual general meeting is concluded, adjourned or postponed, whichever is later).

By way of reminder:

• the estimated return from the B Share Scheme of approximately 9.8 pence per Existing Ordinary Share published in the Company's 2026 Results Announcement on 22 May 2026 was for illustrative purposes only and, subject to unforeseen events, the Company intends to return to Shareholders the amount as set out above (and not on the basis of that earlier illustrative figure);
• the Share Consolidation will proceed on the basis described in this announcement as further detailed in the Circular. The ratio applied in respect of the Share Consolidation is subject to ongoing review and may change, to ensure that the correct ratio is applied in order to maintain comparability as intended; and
• the proposed final dividend for 2026, which is to be put to Shareholders at the Company's 2026 annual general meeting, is 1.00 pence per Existing Ordinary Share, payable on Monday 3 August 2026 to Shareholders named on the Company's register of members as at the close of business on Friday 26 June 2026. The final dividend will not be impacted by the B Share Scheme or the Share Consolidation.

If, at the Record Time, the number of Existing Ordinary Shares multiplied by the proposed redemption amount per Existing Ordinary Share would result in a return in excess of £12 million, then the per share redemption amount and nominal value of the B Shares may be subject to a downward adjustment at the discretion of the Board.

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Circular and all references to times are to London, United Kingdom times unless stated otherwise.

Timetable and settlement

A detailed timetable and the terms of the B Share Scheme and Share Consolidation are set out in the Circular and the Appendix to this announcement. These dates and times are indicative only and are based on current expectations and may be subject to change. If any of the times and/or dates change, the revised times and/or dates will be notified to Shareholders by an announcement through the Regulatory News Service of the London Stock Exchange.

The Record Time for entitlement to the B Shares and the Share Consolidation will be 6 p.m. on Friday 17 July 2026 in respect of the Existing Ordinary Shares. The B Shares are expected to be issued on Monday 20 July 2026, and the Share Consolidation will occur on the same date. The redemption and cancellation of the B Shares is expected to occur on Tuesday 21 July 2026.

Under the expected timetable of events, settlement of the proceeds from the B Share Scheme and any fractional entitlements arising from the Share Consolidation to those Shareholders who hold their Existing Ordinary Shares in certificated form will be sent payments by electronic payment (or, if no electronic payment mandate has been set up, by cheque) or, if Shareholders hold their Existing Ordinary Shares in CREST, will have their CREST account credited, by Tuesday 4 August 2026.

General Meeting

The resolution to approve the B Share Scheme and certain associated resolutions regarding the share capital of the Company (each of which are set out in the Circular) will be proposed at the General Meeting as special resolutions, the passing of which require at least 75 per cent. of the shares voted (whether in person or by proxy) to be cast in favour of each of those resolutions. The resolution to approve the Share Consolidation (which is also set out in the Circular) and the resolution to authorise the allotment of New Ordinary Shares will be proposed at the General Meeting as ordinary resolutions, the passing of which requires a simple majority of the shares voted (whether in person or by proxy) to be cast in favour of that resolution.

Circular

A copy of the Circular and the Form of Proxy will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

A hard copy of the Circular will be made available for inspection during usual business hours on any weekday (Saturdays, Sundays and public holidays are excepted) at Helical's registered office at 22 Ganton Street, London, W1F 7FD, up to and including the date of the General Meeting and during the General Meeting.

Notes:

• Or 15 minutes after the 2026 AGM shall have concluded or been adjourned or postponed, whichever is later.
• The dates and times are indicative only and are based on current expectations and may be subject to change. If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders by an announcement through the Regulatory News Service of the London Stock Exchange.
• Unless otherwise stated, all references to time are to London, United Kingdom time.
• All events in the above timetable following the holding of the General Meeting are conditional on the passing of Resolutions 1 to 3 at such meeting and all events in the above timetable following the Admission Date are conditional upon Admission.