Result of Scrip Dividend election

26 September 2022

CAPITAL & REGIONAL PLC ("Capital & Regional" or "the Company")

UK company number 01399411

LSE share code: CAL

ISIN: GB00BL6XZ716

LEI: 21380097W74N9OYF5Z25

RESULTS OF SCRIP DIVIDEND ELECTION

Capital & Regional announces that a total of 3,781,832 ordinary shares of £0.10 each in the Company (the "scrip dividend shares") are to be issued pursuant to the election offered to shareholders to receive the interim dividend for the six months ended 30 June 2022 by way of the issue of new ordinary shares. This represents approximately 2.3 per cent of the current issued share capital of the Company. The scrip dividend shares will rank pari passu in all respects with the Company's existing issued ordinary shares.

An application will be made for the scrip dividend shares to be admitted to the Premium Segment of the Official List of the United Kingdom Listing Authority, to trading on the London Stock Exchange's Main Market for listed securities, and to be listed on the Johannesburg Stock Exchange (the "admission"). It is expected that admission will occur on Friday, 7 October 2022.

Following the issue of the scrip dividend shares, the total number of shares in issue and voting rights in Capital & Regional will be 169,181,695 with effect from Friday, 7 October 2022. This may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Capital & Regional under the UK Financial Conduct Authority's Disclosure and Transparency Rules.

Share certificates will be posted to certificated shareholders who elected to receive scrip dividend shares on Friday, 7 October 2022. The CREST, CSDP or broker accounts of dematerialised shareholders who elected to receive scrip dividend shares will be credited with scrip dividend shares on Friday, 7 October 2022.

For further information:

Capital & Regional plc 020 7932 8000

Lawrence Hutchings

Stuart Wetherly

FTI Consulting 020 3727 1000

Richard Sunderland

Maria Saud

Katie Hughes

capreg@fticonsulting.com

About Capital & Regional plc

Capital & Regional is a UK focused specialist property REIT with a strong track record of delivering significant value enhancing retail and leisure asset management opportunities across its portfolio of in-town, dominant community shopping centres.

Capital & Regional owns and/or manages seven shopping centres in Hemel Hempstead, Ilford, Luton, Maidstone, Redditch, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform.

For further information see www.capreg.com.