Update regarding Possible Offer from Greene King

Spirit Pub Company plc

30 October 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, 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 OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

Spirit Pub Company plc ("Spirit" or the "Company")

Update regarding Possible Offer from Greene King plc ("Greene King")

Further to the announcement on 20 October 2014 regarding a possible offer for Spirit by Greene King (the "Possible Offer"), the Board of Spirit (the "Board") remains in discussions with Greene King regarding the terms of the Possible Offer. The Board remains willing to recommend an offer at the value of the revised proposal set out in that announcement, but this remains subject to the satisfactory resolution of the other terms of the Possible Offer.

In accordance with Rule 2.6(a) of the Takeover Code, Greene King has until 5.00pm on 30 October 2014 (or such later time and/or date as may be agreed by the Takeover Panel) to announce either a firm intention to make an offer for Spirit or that it does not intend to make an offer. With the consent of the Takeover Panel, Spirit has agreed to an extension of the relevant deadline under Rule 2.6(c) of the Takeover Code until 5.00pm on 4 November 2014 to enable the parties to conclude their ongoing discussions. This deadline may be extended further with the consent of the Takeover Panel, at Spirit's request, in accordance with Rule 2.6(c) of the Takeover Code.

There can be no certainty that any firm offer will be made.

Enquiries

Spirit Pub Company

Mike Tye, Chief Executive +44 (0) 1283 498 400

Paddy Gallagher, Finance Director

Goldman Sachs International

Anthony Gutman +44 (0) 20 7774 1000

Nick Harper

Phil Shelley (Corporate Broking)

Numis Securities Limited

James Serjeant (Corporate Broking) +44 (0) 20 7260 1000

Brunswick Group LLP

Jonathan Glass +44 (0) 20 7404 5959

Nick Cosgrove

Natalia Dyett

A copy of this announcement will be made available on Spirit's website at www.spiritpubcompany.com. The content of this website is not incorporated into and does not form part of this announcement.

Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting exclusively for Spirit and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Spirit for providing the protections afforded to clients of Goldman Sachs International, or for providing advice in connection with the matters referred to in this announcement.

Numis Securities Limited, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting as broker exclusively for Spirit and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Spirit for providing the protections afforded to clients of Numis Securities Limited, or for providing advice in connection with the matters referred to in this announcement.

No profit forecasts; forward-looking statements

No statement in this announcement is intended as a profit forecast and no statement in this announcement should be interpreted to mean that earnings per Spirit share for the current or future financial years would necessarily match or exceed the historical published earnings per Spirit share. Statements included in this announcement that are not historical facts are forward-looking statements. Forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialise, Spirit's results could be materially adversely affected.