Oakley Regulatory News (OCI)

NOTIFICATION OF MAJOR HOLDINGSi

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Time Out Group Plc

LEI: 213800BWH4OF8S4R8K10

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

X

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Oakley Capital Investments Limited

City and country of registered office (if applicable)

3rd Floor, Mintflower Place, 8 Par-la-Ville Road, Hamilton HM08, Bermuda

4. Full name of shareholder(s) (if different from 3.)v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reachedvi:

21/04/2021

6. Date on which issuer notified (DD/MM/YYYY):

21/04/2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuervii

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

44.55%

0

44.55%

147,897,400

Position of previous notification (if

applicable)

47.45%

0

47.45%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(DTR5.1)

Indirect

 (DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

Ordinary GB00BYYV0629

67,436,385

80,461,015

20.31%

24.24%

SUBTOTAL 8. A

147,897,400

44.55%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

X

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

Oakley Capital

Investments Limited

44.55%

0

44.55%

Oakley Capital Private Equity I L.P.

24.24%

0

24.24%

TO (Bermuda) Limited

19.86%

0

19.86%

Oakley Capital

Investments Limited

44.55%

0

44.55%

Oakley Capital Private Equity I L.P.

24.24%

0

24.24%

TONY (Bermuda)

Limited

4.38%

0

4.38%

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

N/A

The date until which the voting rights will be held

N/A

11. Additional informationxvi

Place of completion

London

Date of completion

21 April 2021