CAPC.L Regulatory News (CAPC)

1) Details and location of person subject to the notification obligation (names)

Madison International Real Estate Liquidity Fund VII

§ Madison International Realty Holdings, LLC (Delaware)

§ MIRELF VII (Ontario), LP (Ontario)

§ MIRELF VII Offshore Securities, LLC (Delaware)

Madison International Global Value Real Estate Securities Fund LP

§ Madison International Realty Holdings, LLC (Delaware)

§ Madison International Global Value Real Estate Securities Fund LP (Cayman)

§ MIRGV Cayman LP (Cayman)

§ MIRGV Master Offshore LP (Cayman)

Separate Madison-managed account

§ Managed by Madison International Realty Holdings, LLC (Delaware)

2) Full name and location of shareholders (if different from 1) (names)

Madison International Real Estate Liquidity Fund VII

§ MIRELF VII Offshore Securities, LLC (Delaware)

Madison International Global Value Real Estate Securities Fund LP

§ MIRGV Master Offshore LP (Cayman)

Separate Madison-managed account

§ Managed by Madison International Realty Holdings, LLC (Delaware)

3) Reason for notification

An acquisition or disposal of voting rights

4) Date threshold was crossed or reached

29 May 2019

5) Date issuer was notified

Revised notification: 1 July 2019

Original notification: 31 May 2019

6) Threshold that was crossed

Total holding remains above 3%

7) Total positions of persons subject to the notification obligation

A) Resulting situation on the date on which threshold was crossed or reached

% of voting rights attached to shares

3.13%

% of voting rights through financial instruments

N/A

Total of both in %

3.13%

Total number of voting rights of issuer

850,820,151

B) Position of previous notification

% of voting rights attached to shares

N/A

% of voting rights through financial instruments

N/A

Total of both in %

N/A

8) Notified details of the resulting situation on the date on which the threshold was crossed or reached

A) Voting rights attached to shares

Number of voting rights

26,635,080

(Indirect)

% of voting rights

3.13% (Indirect)

B1) Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

N/A

Expiration date

N/A

Exercise/Conversion Period

N/A

Number of voting rights that may be acquired if the instrument is exercised/converted.

N/A

% of voting rights

N/A

B2) Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

N/A

Expiration date

N/A

Exercise/Conversion Period

N/A

Physical or cash settlement

N/A

Number of voting rights

N/A

% of voting rights

N/A

9) Information in relation to the person subject to the notification obligation

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Madison International Real Estate Liquidity Fund VII

§ MIRELF VII Offshore Securities, LLC is owned as to 100% by MIRELF VII (Ontario), LP, which in turn is owned by certain limited partnerships which are indirectly controlled by Madison International Realty Holdings, LLC.

Madison International Global Value Real Estate Securities Fund LP

§ MIRGV Master Offshore LP is owned as to 100% by MIRGV Cayman LP which in turn is owned by Madison International Global Value Real Estate Securities Fund LP and MIRELF VI NPS Co-Investment LP (which are indirectly controlled by Madison International Realty Holdings, LLC) .

Separate Madison-managed account

§ Madison International Global Alpha Realty, LLC manages a separate account on behalf of a third party investor. Madison International Global Alpha Realty, LLC is directly controlled by Madison International Realty Holdings, LLC.

10) Additional information

N/A