£400 million debut Green Bond Issuance

4 August 2021

The Berkeley Group Holdings plc

(the "Company")

£400 million debut Green Bond Issuance

by The Berkeley Group plc at a coupon of 2.5% due 2031

Supporting Our Vision 2030: Transforming Tomorrow

The Berkeley Group plc (100% owned subsidiary of the Company) (the "Issuer") has today priced £400 million of unsecured green bonds maturing in 10 years in August 2031 (the "Green Bonds") at a coupon of 2.5% per annum. The Green Bonds will be guaranteed by the Company and a number of its subsidiaries. This follows a series of fixed income investor meetings, which generated substantial investor interest.

Fitch Ratings Ltd has published a Long-term Issuer Default Rating (IDR) and senior unsecured rating of BBB- with a Stable Outlook, along with a BBB-(Exp) rating for the Green Bonds.

The Green Bonds are expected to be issued on 11 August 2021, subject to the satisfaction or waiver of customary conditions precedent and, subsequently, admitted to trading on the International Securities Market of the London Stock Exchange plc.

The proceeds of the Green Bonds are intended to be used by the Issuer to finance and/or refinance, in whole or in part, a portfolio of eligible assets in line with the Issuer's new Green Bond Framework, which has the benefit of a Second Party Opinion from DNV, and which supports the Berkeley Group's "Our Vision: Transforming Tomorrow" business strategy.

The Green Bond Framework and Second Party Opinion are available at: https://www.berkeleygroup.co.uk/about-us/investor-information/debt-investors

The Issuer intends to allocate the proceeds of the Green Bonds to the Berkeley Group's ongoing development activities in accordance with the Green Bond Framework; specifically in connection with the development of green buildings (energy efficient homes) on its complex large-scale regeneration sites, where the Berkeley Group is transforming neglected brownfield land into flourishing, well-connected, nature rich, low carbon neighbourhoods and communities.

The Berkeley Group regards the issue of the Green Bonds as an important element of its ongoing financing and capital strategy and will be followed by a restructuring of its existing bank facilities.

Richard Stearn, Chief Financial Officer of The Berkeley Group Holdings plc, said:

"We have been delighted by the strength of institutional demand for our debut issue of green bonds. This demonstrates that investors recognise the resilience of Berkeley's unique long-term operating model and, through our new Green Bond Framework, the value to the wider environment of our regeneration activities. It takes many years of patient place-making to stitch these vast spaces, once cut off from their local communities, back into the local fabric, and bring them to life with the right mix of homes, public amenities, parks and open spaces. This is inherently sustainable and relieves pressure on greenfield land."

Barclays Bank PLC and HSBC Bank plc (acting as Global Coordinators, Green Structuring Advisors and Active Lead Managers), Lloyds Bank Corporate Markets plc and NatWest Markets Plc (acting as Active Lead Managers) and Banco Santander S.A. (acting as Passive Lead Manager) were mandated in connection with the Green Bonds.

END

For further information please contact:

The Berkeley Group Holdings plc                                               Novella Communications

R J Stearn                                                                                 Tim Robertson

T: 01932 868 555                                                                       T: 020 3151 7008

LEI: 2138009OQSSLVVHQAL78

This document does not constitute an offer of securities for sale in the United States. The securities described above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, or under any relevant securities laws of any state of the United States of America and may not be offered, sold or delivered in the United States of America or to, or for the account of or benefit of, U.S. Persons, subject to certain limited exemptions.