Shareholder approval of Capital Reduction

11 October 2016

John Lewis PLC("JL" or the "Company")Confirmation of approval of Reduction of Capital by Shareholders

Further to the Company's announcement of 8 September 2016 relating to the Company's proposal to repay its 5% First Cumulative Preference Stock and 7% Cumulative Preference Stock (the "Repayment"), JL announces that at the General Meeting of its Shareholders and two separate Class Meetings of (i) the holders of the 5% First Cumulative Preference Stock and (ii) the holders of the 7% Cumulative Preference Stock, all of which were held today, 11 October 2016, all resolutions necessary to effect the Repayment were duly passed.

In accordance with Listing Rule 9.6.2, copies of the special resolutions have been submitted to the National Storage Mechanism and will soon be available for inspection at http://www.morningstar.co.uk/uk/NSM.

Keith HubberCompany Secretary