15 March 2022

Palace Capital PLC

("Palace Capital" or the "Company")

Dividend Declaration and Market Update

Palace Capital (LSE: PCA), the Main Market REIT that has a UK regional commercial real estate portfolio focused on the office and industrial sectors in carefully selected locations outside of London, is pleased to announce that it will pay a quarterly dividend, in respect of the three months ended 31 December 2021, of 3.25 pence per ordinary share.

The dividend will be paid on 15 April 2022 to shareholders on the register as at 25 March 2022. The ex-dividend date will be 24 March 2022. The entire dividend will be paid as a Property Income Distribution.

The Company intends to provide a market update in April in relation to trading for the year ending 31 March 2022, ahead of its full year results for the year ending 31 March 2022 which are expected to be announced on or around Tuesday 14 June 2022, with the date to be confirmed in due course.

For further information, contact:

Joint Broker

Numis Securities

Heraclis Economides / Oliver Hardy

Tel: +44 (0)20 7260 1000

Joint Broker

Arden Partners plc

Corporate Finance: Paul Shackleton / Elliot Mustoe

Corporate Broking: James Reed-Daunter

Tel: +44 (0)207 614 5900

FTI Consulting (Financial PR)

Claire Turvey / Methuselah Tanyanyiwa

[email protected]

Tel. +44 (0)20 7271000

About Palace Capital plc (www.palacecapitalplc.com):

Palace Capital plc (LSE: PCA) is a UK REIT that has a diversified portfolio of UK regional commercial property. The Company maintains a disciplined investment strategy focused on towns and cities outside of London that are characterised by thriving local economies and strengthening fundamentals. Within those locations the highly experienced management team select assets that provide opportunities to drive both capital value and long-term rental income through tailored active asset management programmes ultimately delivering attractive shareholder returns.