Hammerson Regulatory News (HMSO)

Hammerson plc (the Company)

Update on AGM and Remuneration

25 March 2020

In light of the impact of Covid19, the Company plans to hold its AGM on 28 April 2020 electronically. It will change the principal place of the AGM from the Company's registered office to an electronic platform that will enable shareholders to attend and participate virtually. The Company will provide full details for the electronic AGM in due course.

Following the publication of the Annual Report and Notice of AGM, the Board has agreed, in the light of current market conditions, two changes in relation to the Implementation of the Proposed Remuneration Policy in 2020 (see page 120 of the Annual Report):

· The Executive and Non-Executive Directors have asked that their salary and fee increases (set out in the Directors Remuneration Report and due to take effect on 1 April) be cancelled; and

· The Company is seeking shareholder approval at the AGM to introduce the Restricted Share Scheme and has indicated that the initial grant would be over shares worth, at the time of grant, 75% of salary. Given the fall in share price since the proposed Remuneration Policy was developed by the Remuneration Committee, the Committee plans to decide on the timing and number of the shares to be granted in due course. Its objective will be to ensure that the Restricted Share Scheme and Policy operate as intended, and the grant is subject to the 75% cap.

These two points will not change the terms of the proposed Remuneration Policy itself.

Julia Crane

Deputy Company Secretary

+44 (0) 20 7887 1000

The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.