Director/PDMR Shareholding

Long-Term Incentive Plan ("LTIP")

The British Land Company PLC (the "Company") announces that Chris Grigg, Chief Executive, has purchased a further 99,298 shares, bringing the total shares held by Chris and his wife, Fionna Grigg, to 1,410,406 shares.

This was achieved on 11 July 2019 by exercising 1,073,825 LTIP options, which had been granted on 11 June 2010 at an option price of 447 pence per share.

Following the exercise, Chris Grigg sold 974,527 ordinary shares at a price of 543.73 pence per share to satisfy the costs of exercise and sale as well as tax & National Insurance liabilities.   The remaining 99,298 shares were transferred to a nominee account jointly owned by Chris and his wife Fionna.

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.