The British Land Company PLC

Annual Incentive Plan

In accordance with the remuneration policy approved by shareholders on 19 July 2016 ("the Policy"), on 28 June 2018 the Executive Directors purchased ordinary shares of 25 pence each in the Company ("Shares") at a price of 669.2175 pence per share to be held in accordance with the Policy.

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Details of the Shares purchased are outlined below:

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The Annual Incentive Plan payments for the year ended 31 March 2018 were only able to be finally calculated and approved by the Remuneration Committee after the element relating to the performance compared to an Investment Property Databank (IPD) benchmark was known. As the Directors' Remuneration Report for this year was finalised before this information was available from IPD it contains an estimated amount for each director. The final approved bonuses on which these share purchases are based will be included in next year's Report.

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These transactions took place in London (XLON).

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

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