Helical plc ("Helical" or the "Company"), a UK real estate investment company specialising in the redevelopment and refurbishment of highly sustainable, best-in-class London office buildings, is pleased to announce its intention to convert to a REIT with effect from 1 April 2022.

As part of this process, Helical will notify Her Majesty's Revenue & Customs of the Company's intention to convert into a REIT and will seek Helical shareholder ("Shareholder") approval to replace its current articles of association with new articles of association to incorporate the changes necessary to become a REIT. Further details of those new articles and the impact on the Company of the conversion to a REIT will be set out in a notice of a general meeting to be sent to Shareholders in advance of the due date of conversion.

Following conversion, Helical will be exempt from UK corporation tax on the profits of its property activities that fall within the REIT regime in the year ending 31 March 2023 and beyond.

In line with Helical's current dividend policy, future dividends will continue to be paid out of EPRA earnings and realised capital profits. Dividends will comprise any Property Income Distribution ("PID") required to comply with the REIT legislation payable out of Helical's net rental income and, if considered appropriate, a further dividend out of other sources of its income and profits.

Gerald Kaye, Chief Executive of Helical, commented:

"Helical's business has evolved in recent years, from a developer/trader model, selling its development schemes to third party funders, to become a developer of and investor in new or refurbished Grade A buildings that are retained for their capital growth and long-term income potential.

"Today, Helical has a portfolio with a superior sustainability rating, with 99% rated EPC A or B and 85% BREEAM Outstanding or Excellent, by value. This portfolio, together with its long-term investment model, facilitate the conversion of the Company's operations to a REIT and with the rate of UK corporation tax increasing from 19% to 25% from April 2023, the Board believes that the time is now right for Helical to convert to a REIT."

For further information please contact:

Helical

Gerald Kaye/Tim Murphy

Tel: 020 7629 0113

FTI Consulting

Dido Laurimore/Richard Gotla/Andrew Davis

Tel: 020 3727 1000

schelical@fticonsulting.com

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This announcement has been authorised for release by the Board