THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS IMMEDIATELY.

28 February 2022

NOTICE TO THE HOLDERS OF THE FOLLOWING NOTES ISSUED BY

THE BERKELEY GROUP PLC
(the "Issuer")

£400,000,000 2.500 per cent. Guaranteed Notes due 2031 (ISIN: XS2370445921) (the "Notes")

_______________________

NOTICE OF NEW GUARANTORS AND RELEASE OF GUARANTORS

_______________________

NOTICE IS HEREBY GIVEN THAT:

New Guarantors

In accordance with Condition 2(c) of the Terms and Conditions of the Notes and Clause 4.2 of the trust deed dated 11 August 2021 (the "Trust Deed") made between the Issuer, certain guarantors named therein (the "Guarantors") and HSBC Corporate Trustee Company (UK) Limited (the "Trustee") and by way of a supplemental trust deed between the Issuer, the Trustee and the New Guarantors (as defined below) dated 28 February 2022, the following entities:

1.   Berkeley Modular Limited;

2.   Berkeley Strategic Land Limited;

3.   Berkeley Two Hundred and Eight Limited;

4.   Berkeley Twenty-Three Limited;

5.   Berkeley Two Hundred and Seventeen Limited;

6.   Berkeley Two Hundred and Eighteen Limited;

7.   Berkeley Two Hundred and Nineteen Limited, 

(together, the "New Guarantors") have acceded to the obligations as Guarantors and become Guarantors under the Notes constituted by the Trust Deed.

Information on the New Guarantors

Release of Guarantors

In accordance with Condition 2(d) of the Terms and Conditions of the Notes and Clause 4.3 of the Trust Deed made between the Issuer, the Guarantors and the Trustee, by way of a written notice to the Trustee dated 28 February 2022, the following entities:

1.   Berkeley Homes (Festival Waterfront Company) Limited;

2.   Berkeley Homes (Home Counties) plc;

3.   Berkeley Partnership Homes Limited;

4.   Stanmore Relocations Limited;

5.   PEL Investments Limited;

6.   CPWGCO 1 Limited;

7.   St George Battersea Reach Limited;

8.   Berkeley (Carnwath Road) Limited;

9.   St George Developments Limited;

10. Berkeley Homes Special Contracts plc; and

11. Berkeley Homes (West Thames) Limited,                                     

(together, the "Released Guarantors") have been automatically and irrevocably released and relieved of all their obligations as Guarantors and have ceased to be Guarantors under the Notes constituted by the Trust Deed.

Information on the Released Guarantors

________________________________________________

The New Guarantors and Released Guarantors are direct or indirect wholly-owned subsidiaries of the Issuer.

The Issuer's LEI is:        2138001V85JLYR7AUB61

Further information on The Berkeley Group plc is available at https://www.berkeleygroup.co.uk/