Redemption of B Preference Shares

6 November 2017

Footasylum plc

("Footasylum" or the "Company")

Redemption of B Preference Shares of £1.00 each (the "Preferences Shares")

Following the admission of the Company's ordinary shares to trading on AIM on 2 November 2017 and in accordance with the Redemption Agreement (entered into on 26 October 2017 and details of which can be found in the Company's Admission Document), the Company announces that it has completed the redemption and cancellation of 18,700,000 Preference Shares at par value (the "Redemption").

Immediately following the Redemption, updated Articles of Association of the Company (which were adopted by the Company conditionally upon the Redemption and which remove references to rights attaching to the Preference Shares) have come into force.

The Company's Admission Document and Articles of Association can be found at http://investors.footasylum.com/