Scrip Ratio Announcement

THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, 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 SUCH JURISDICTION.

FOR IMMEDIATE RELEASE

Hammerson plc (the 'Company')

Interim 2020 Dividend and Enhanced Scrip Dividend Alternative

Scrip Ratio Announcement

18 November 2020

Further to the announcement released on 17 November 2020, Shareholders are further advised of the below.

Scrip Reference Share Prices:

Shareholders on the UK Register: 22.94 pence (Sterling)

Shareholders on the South Africa Register: R4.6236 (Rand)

Therefore, the number of New Shares which Shareholders electing to take the Enhanced Scrip Dividend Alternative will receive are as follows:

Shareholders on the UK Register: 8.71840 New Shares for every 100 Shares held

Shareholders on the South Africa Register: 8.73415 New Shares for every 100 Shares held

A guide containing the terms and conditions of the Enhanced Scrip Dividend Alternative is available on the Company's website, https://www.hammerson.com/investors/shareholder-information/scrip-dividend-scheme/.

Unless otherwise stated, capitalised terms in this announcement shall have the meanings given to them in the Circular dated 11 November 2020 in connection with the proposed Interim 2020 Dividend and Enhanced Scrip Dividend Alternative which can be found at: https://www.hammerson.com/investors/shareholder-information/general-meeting.

For further information contact:

Josh Warren

Head of Investor Relations

Tel: +44 20 7887 1053

[email protected]

The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.

This announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer to sell or issue, or the solicitation of an offer to purchase, subscribe for or otherwise acquire any securities of the Company, whether pursuant to this announcement or otherwise.

The New Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act"), or with any securities regulatory authority or under the relevant laws of any state or other jurisdiction of the United States, and may not be offered, sold, taken up, exercised, resold, pledged, renounced, transferred or delivered, directly or indirectly, into or within the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There has been and will be no public offering of the New Shares in the United States.

The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and, therefore, persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply which such restrictions may constitute a violation of the securities law of any such jurisdiction.