Hammerson plc (the "Company")

3 November 2022

Hammerson plc today announces exercise of early redemption option in respect of Bonds due in 2023 with cash held on balance sheet.  All further Group debt maturities until 2025 remain covered by existing cash facilities.

2023 €500,000,000 1.750 per cent Bond Redemption

If you are in doubt about any aspect of this announcement and/or the action you should take, you should consult your stockbroker, bank manager, solicitor, accountant or other professional advisor authorised under the Financial Services and Markets Act 2000 (if you are in the United Kingdom) or another appropriately authorised independent financial advisor.

Hammerson plc announces the exercise of the Company's early redemption option in respect of the €500,000,000 1.750 per cent. Bonds due 2023 (ISIN: XS1379158550) (the "Bonds"). As at the date of this announcement the aggregate principal amount of Bonds outstanding is €235,507,000.

Capitalised terms used in this announcement shall bear the meanings given to them in the terms and conditions of the Bonds contained in the prospectus dated 11 March 2016 (the "Terms and Conditions").

The Bonds will be redeemed in full on 16 December 2022 (the "Optional Redemption Date") pursuant to Condition 6(b) of the Terms and Conditions and will be settled using the existing cash on balance sheet covering this maturity as outlined in our interim results presentation. There are no further Group debt maturities not covered by existing cash on the balance sheet until 2025.  The Company has today delivered the notice required by Condition 6(b) to Euroclear and Clearstream, Luxembourg.

The Bonds will be redeemed at par, being a price equal to the principal amount of the Bonds, together with interest accrued to but excluding the Optional Redemption Date.

Holders of the Bonds which are held on behalf of Euroclear or Clearstream, Luxembourg should contact the relevant corporate actions departments within the clearing systems for further information.

Investor Enquiries:

Josh Warren, Director of Strategy and Investor Relations 

Tel: +44 (0)20 7887 1053   Email: josh.warren@hammerson.com

Media Enquiries:

Dido Laurimore, FTI Consulting: + 44 (0)7801 654424

Natalie Gunson, Communications Director, Hammerson                  

Tel: +44 (0)20 7887 4672   Email: natalie.gunson@hammerson.com

Debt Enquiries

Richard Sharp, Group Treasurer 

Tel: +44 (0)20 7887 1119   Email: richard.sharp@hammerson.com

Tony Winterbourn, Deputy Treasurer                  

Tel: +44 (0)20 7887 1080    Email: tony.winterbourn@hammerson.com

ENDS

The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange and on Euronext Dublin.