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Information relating to St. Modwen St. Modwen is a UK-based real estate developer and investor and a constituent of the FTSE 250. Established in 1966 and headquartered in Longbridge, Birmingham, St. Modwen operates across three specialist divisions: St. Modwen Logistics, St. Modwen Homes and Strategic Land & Regeneration. The Company is active across England and South Wales with a portfolio totalling £1.37bn as at 30 November 2020. St. Modwen Logistics (49% of the portfolio by value as at 30 November 2020) designs, builds, owns and manages industrial and logistics assets in the UK. As one of the UK’s most active developers of speculative and built-to-suit logistics buildings, St. Modwen Logistics’ commercial development activity is focused on sites concentrated around major infrastructure and conurbations. Customers include some of the world’s biggest logistics and e-commerce organisations as well as significant national and regional enterprises. St. Modwen Homes (27% of the portfolio by value as at 30 November 2020) delivers high quality family housing primarily to first time buyers in attractive regional markets across the UK. SMH currently delivers around 1,000 units per annum with an affordable private average selling price of c.£277,000, and in 2020 achieved a 96% HBF customer satisfaction score, which is the second highest among large housebuilders, and a net promoter score of 74, ranking consistently above the wider sector. Strategic Land & Regeneration (24% of the portfolio by value as at 30 November 2020) focuses on the promotion and master development of land, primarily for residential and logistics uses, as well as delivering transformational regeneration projects. The division is delivering development land to St. Modwen Homes, St. Modwen Logistics, and third-party housebuilders and has over 20,000 strategic residential plots in the pipeline. The majority of the division’s existing portfolio is earmarked to be sold, as it is no longer core to St. Modwen’s strategy.

Information relating to St. Modwen • St. Modwen is a UK-based real estate developer and investor and a constituent of the FTSE 250. Established in 1966 and headquartered in Longbridge, Birmingham, St. Modwen operates across three specialist divisions: St. Modwen Logistics, St. Modwen Homes and Strategic Land & Regeneration. The Company is active across England and South Wales with a portfolio totalling £1.37bn as at 30 November 2020. • St. Modwen Logistics (49% of the portfolio by value as at 30 November 2020) designs, builds, owns and manages industrial and logistics assets in the UK. As one of the UK’s most active developers of speculative and built-to-suit logistics buildings, St. Modwen Logistics’ commercial development activity is focused on sites concentrated around major infrastructure and conurbations. Customers include some of the world’s biggest logistics and e-commerce organisations as well as significant national and regional enterprises. • St. Modwen Homes (27% of the portfolio by value as at 30 November 2020) delivers high quality family housing primarily to first time buyers in attractive regional markets across the UK. SMH currently delivers around 1,000 units per annum with an affordable private average selling price of c.£277,000, and in 2020 achieved a 96% HBF customer satisfaction score, which is the second highest among large housebuilders, and a net promoter score of 74, ranking consistently above the wider sector. • Strategic Land & Regeneration (24% of the portfolio by value as at 30 November 2020) focuses on the promotion and master development of land, primarily for residential and logistics uses, as well as delivering transformational regeneration projects. The division is delivering development land to St. Modwen Homes, St. Modwen Logistics, and third-party housebuilders and has over 20,000 strategic residential plots in the pipeline. The majority of the division’s existing portfolio is earmarked to be sold, as it is no longer core to St. Modwen’s strategy. • Commenting on the Acquisition, Xxxxxx Xxxx, the Chair of St. Modwen, said: “Over the last four years, St. Modwen has successfully reshaped its business to focus on logistics and housebuilding. Whilst both sectors benefit from long term structural growth trends, St. Modwen’s financial position is strong and there is a solid strategy in place, the quantum and timing of generating shareholder value is naturally subject to execution risk. The Board has therefore been able to evaluate today’s recommendation from a position of strength. Mindful of the pace of capital growth in the UK logistics market in particular and the future growth potential in our logistics and housebuilding businesses, initial approaches were rejected. However, following careful consideration we believe this offer is in the best interests of St. Modwen shareholders and significantly accelerates the value that could be realised by St. Modwen if it were to remain independent. Additionally, the Board is reassured by Blackstone’s views and approach to investing in the business and supporting our people.” • Commenting on the Acquisition, Xxxxx Xxxxxxx, Head of Blackstone Real Estate Europe, said: “Our strong conviction in the UK, together with St. Modwen’s high-quality asset base, its team, and its operational capabilities, give us confidence we can further build on the company’s successes. We look forward to working with the talented team at St. Modwen in the years ahead.” This summary should be read in conjunction with the following announcement and the Appendices. The Conditions to, and certain further terms of, the Acquisition are set out in Appendix 1 to this announcement. The bases and sources for certain financial information contained in this announcement are set out in Appendix 2 to this announcement. Details of undertakings received by Bidco are set out in Appendix 3 to this announcement. Certain definitions and terms used in this announcement are set out in Appendix 4 to this announcement. The person responsible for arranging release of this announcement on behalf of St. Modwen is Xxxx Xxxxx, General Counsel & Company Secretary. Brighton Bidco Limited Xxxxxxx Xxxxx Xxxxx Xxxxx +00 00 0000 0000 +00 00 0000 0000 Rothschild & Co (Financial Adviser to Bidco) Xxxx Xxxxxx Xxx Xxxxx Xxxxx Xxxxxx +00 00 0000 0000 Paternoster (PR Adviser to Bidco) Xxx Xxxxxxxx Xxxxxx Xxxxx +00 00 0000 0000 +00 00 0000 0000 St. Modwen Properties PLC Xxxxxxx Xxxxxx Xxx Xxxxxx +00 000 000 0000 Lazard (Financial Adviser to St. Modwen) Xxxxxxx Xxxxxx +00 00 0000 0000 Xxxxxxx Xxxx Xxxxxx Xxxxxxxx

Information relating to St. Modwen  St. Modwen is a UK-based real estate developer and investor and a constituent of the FTSE 250. Established in 1966 and headquartered in Longbridge, Birmingham, St. Modwen operates across three specialist divisions: St. Modwen Logistics, St. Modwen Homes and Strategic Land & Regeneration. The Company is active across England and South Wales with a portfolio totalling £1.37bn as at 30 November 2020.  St. Modwen Logistics (49% of the portfolio by value as at 30 November 2020) designs, builds, owns and manages industrial and logistics assets in the UK. As one of the UK’s most active developers of speculative and built-to-suit logistics buildings, St. Modwen Logistics’ commercial development activity is focused on sites concentrated around major infrastructure and conurbations. Customers include some of the world’s biggest logistics and e-commerce organisations as well as significant national and regional enterprises.  St. Modwen Homes (27% of the portfolio by value as at 30 November 2020) delivers high quality family housing primarily to first time buyers in attractive regional markets across the UK. SMH currently delivers around 1,000 units per annum with an affordable private average selling price of c.£277,000, and in 2020 achieved a 96% HBF customer satisfaction score, which is the second highest among large housebuilders, and a net promoter score of 74, ranking consistently above the wider sector.  Strategic Land & Regeneration (24% of the portfolio by value as at 30 November 2020) focuses on the promotion and master development of land, primarily for residential and logistics uses, as well as delivering transformational regeneration projects. The division is delivering development land to St. Modwen Homes, St. Modwen Logistics, and third-party housebuilders and has over 20,000 strategic residential plots in the pipeline. The majority of the division’s existing portfolio is earmarked to be sold, as it is no longer core to St. Modwen’s strategy.  Commenting on the Acquisition, Xxxxxx Xxxx, the Chair of St. Modwen, said: “Over the last four years, St. Modwen has successfully reshaped its business to focus on logistics and housebuilding. Whilst both sectors benefit from long term structural growth trends, St. Modwen’s financial position is strong and there is a solid strategy in place, the quantum and timing of generating shareholder value is naturally subject to execution risk. The Board has therefore been able to evaluate today’s recommendation from a position of strength. Mindful of the pace of capital growth in the UK logistics market in particular and the future growth potential in our logistics and housebuilding businesses, initial approaches were rejected. However, following careful consideration we believe this offer is in the best interests of St. Modwen shareholders and significantly accelerates the value that could be realised by St. Modwen if it were to remain independent. Additionally, the Board is reassured by Blackstone’s views and approach to investing in the business and supporting our people.”  Commenting on the Acquisition, Xxxxx Xxxxxxx, Head of Blackstone Real Estate Europe, said: “Our strong conviction in the UK, together with St. Modwen’s high-quality asset base, its team, and its operational capabilities, give us confidence we can further build on the company’s successes. We look forward to working with the talented team at St. Modwen in the years ahead.” This summary should be read in conjunction with the following announcement and the Appendices. The Conditions to, and certain further terms of, the Acquisition are set out in Appendix 1 to this announcement. The bases and sources for certain financial information contained in this announcement are set out in Appendix 2 to this announcement. Details of undertakings received by Bidco are set out in Appendix 3 to this announcement. Certain definitions and terms used in this announcement are set out in Appendix 4 to this announcement. The person responsible for arranging release of this announcement on behalf of St. Modwen is Xxxx Xxxxx, General Counsel & Company Secretary. Brighton Bidco Limited Xxxxxxx Xxxxx Xxxxx Xxxxx +00 00 0000 0000 +00 00 0000 0000 Rothschild & Co (Financial Adviser to Bidco) Xxxx Xxxxxx Xxx Xxxxx Xxxxx Xxxxxx +00 00 0000 0000 Paternoster (PR Adviser to Bidco) Xxx Xxxxxxxx Xxxxxx Xxxxx +00 00 0000 0000 +00 00 0000 0000 St. Modwen Properties PLC Xxxxxxx Xxxxxx Xxx Xxxxxx +00 000 000 0000 Lazard (Financial Adviser to St. Modwen) Xxxxxxx Xxxxxx +00 00 0000 0000 Xxxxxxx Xxxx Xxxxxx Xxxxxxxx