UK Corporate Governance Code Update Statement

3 October 2019

UK Corporate Governance Code Update Statement

At the Company's 2019 Annual General Meeting, 21.21% of the votes cast on Resolution 15 (disapplication of pre-emption rights) were cast against. The Board have noted the objections but concluded that, as the majority of shareholders are in support, renewal of the authorities in relation to the dis-application of pre-emption rights and also the dis-application pf pre-emption rights in connection with an acquisition or capital investment will again be put to shareholders at the Annual General Meeting in 2020. The Board remains committed to undertaking shareholder consultations on significant share issues whenever it is practicable to do so and to continued shareholder engagement.

McColls Retail Group plc

Ashwells Road

Brentwood

Essex

CM15 9ST

LEI: 213800R1TLR536P8YJ67