Director/PDMR Shareholding

Long-Term Incentive Plan ("LTIP")

The British Land Company PLC (the "Company") announces that on 5 March 2019, Chris Grigg, Chief Executive, exercised 7,751 LTIP options, which had been granted on 29 June 2009 at an option price of 387 pence per share.

Following the exercise, Chris Grigg sold 4,978 ordinary shares at a price of 603.822 pence per share to satisfy the exercise and dealing costs.

The exercise took place outside of a trading venue and the sale took place in London.

This notification is made in accordance with the requirements of Article 19.3 of the Market Abuse Regulations. The Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.