Issue of Debt

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

UNIVERSITY OF LEEDS ANNOUNCES TAP ISSAUNCE OF ITS EXISTING BONDS

21 July 2020

The University of Leeds (the "Issuer") announces today the successful pricing of a £50,000,000 tap issuance at an issue price of 138.562% (the "Tap Issuance") of its existing £250,000,000 3.125 per cent. Bonds due 2050 issued on 19 February 2016.

The Issuer will make a separate announcement regarding the publication of the Listing Particulars prepared in connection with the Tap Issuance once these are available.

For further information, please contact: [email protected] / 07712 389448

This announcement is released by the Issuer and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the Tap Issuance. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Jane Madeley (Chief Financial Officer of the Issuer).

DISCLAIMER - INTENDED ADDRESSEES

This announcement is for information only and does not constitute or form part of, and should not be construed as, an offer to sell nor is it a solicitation of an offer to buy securities in any jurisdiction where it is unlawful to do so.

In particular, this announcement does not constitute an offer of securities for sale in the United States of America. This is not for distribution in the United States of America. The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under any relevant securities laws of any state of the United States of America and are subject to U.S. tax law requirements. Subject to certain exceptions, the securities may not be offered or sold within the United States of America or to, or for the account or benefit of, U.S. persons or to persons within the United States of America, as such terms are defined in Regulation S under the Securities Act. There will be no public offering of the securities in the United States of America.

Your right to access this service is conditional upon complying with the above requirement.

MiFID II professionals/ECPs-only / No PRIIPs KID - Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or in the UK.