Variation in Lock-in deed

Variation in BB Healthcare Trust plc (the "Company") Lock-in deed

On 10 November 2016, in connection with the Company's initial public offering, the UK based Directors of the Company (the "Directors"), the Company and Peel Hunt LLP entered into a lock-in deed relating to ordinary shares (the "Ordinary Shares") in the Company (the "Lock-in Deed") pursuant to which the Directors agreed that they would not sell, grant options over or otherwise dispose of any interest in any Ordinary Shares acquired by them in satisfaction of their entitlement to receive directors' fees (save in certain circumstances) prior to the third anniversary of the date of acquisition of the relevant Ordinary Shares.

The parties have agreed to amend the Lock-in Deed to enable the Directors to transfer the Ordinary Shares, received as outlined above, from their brokerage accounts into individual savings accounts ("ISAs") and/or self-invested personal pensions ("SIPPs") held in their names.

The Directors intend to sell and immediately repurchase some or all of the Ordinary Shares they currently hold, with the net effect that they will each hold the same number of Ordinary Shares as they currently do.

Under the amended Lock-in Deed, the minimum holding period of three years from the date the relevant Ordinary Shares are acquired by a Director in satisfaction of their entitlement to receive a director's fee (save in certain circumstances) remains in place.

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