HAMMERSON PLC - Cash fraction applicable to the Enhanced Scrip Dividend Alternative

Cash fraction applicable to the Enhanced Scrip Dividend Alternative

Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE and Euronext Dublin share code: HMSO          JSE share code: HMN
ISIN: GB00BK7YQK64
(“Hammerson” or “the Company”)

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 2021 Dividend and Enhanced Scrip Dividend Alternative

Cash Fraction Applicable to the Enhanced Scrip Dividend Alternative

28 October 2021

Further to the announcements released on 5 August 2021, 27 September 2021 and 11 October 2021,
Shareholders are further advised of the below.

Fractions applicable to the Enhanced Scrip Dividend Alternative:

Shareholders on the UK Register

No fraction of a New Share will be issued to Shareholders on the UK Register. Entitlements to New
Shares of Shareholders on the UK Register who elect for the Enhanced Scrip Dividend Alternative
will be rounded down to the nearest whole number of New Shares. Entitlements to fractions of New
Shares will be paid to Shareholders who elect for the Enhanced Scrip Dividend Alternative in cash
on the Dividend Payment Date based on the value of the Enhanced Scrip Dividend Alternative. Such
entitlements will be paid in the same way as the cash dividends are paid for the Interim 2021 Dividend
and will be taxed accordingly.

Shareholders on the South Africa Register

No fraction of a New Share will be issued to Shareholders on the South Africa Register.

Shareholders on the South Africa Register cannot accumulate residual entitlements or receive a
fraction of a New Share. Where an election has been made to participate in the Enhanced Scrip
Dividend Alternative, which would otherwise give rise to an entitlement to a fraction of a New Share,
the number of New Shares to be received will be rounded down to the nearest whole number of New
Shares and any entitlement to fractions will be paid in cash in Rand.

The cash fractional payment for Shareholders on the South Africa Register is to be determined with
reference to the volume weighted traded price on the Johannesburg Stock Exchange (“JSE”) on
Wednesday, 27 October 2021 (being the date on which the Shares are quoted "ex-dividend" on the
JSE) of 6.38 Rand, discounted by 10% (“South Africa Fractional Reference Price”). Shareholders are
accordingly advised that the South Africa Fractional Reference Price is 5.742 Rand (6.38 Rand
discounted by 10%). The cash fractional payments will constitute a foreign dividend for South African
tax purposes and will be subject to South African dividends tax to the extent that it is declared in
respect of a share listed on the JSE. South African Dividends Tax at the rate of 20% will be withheld
from such cash dividends paid to individuals, the net fractional rate will be R4.59360 (459.36000
cents). Cash dividends paid to corporates, retirement funds and public benefit organisations qualify
for an exemption from Dividends Tax provided the required declaration to qualify for the exemption
has been submitted by the requisite date. Shareholders are advised to seek their own tax advice
from an independent tax adviser should they be in any doubt as to the tax treatment for them of any
cash fractional payment.

South African Taxation

When the Company offers a scrip dividend alternative as a non-PID, the tax position is as follows:

In accordance with South African tax law, a foreign dividend is defined as a dividend paid or payable
by a non-South Africa tax resident company where the amount is treated as a dividend in terms of
the tax or corporate law of the country in which the foreign company is tax resident. However, a
foreign dividend does not include any amount so paid or payable by the foreign company that
constitutes a share in that company.

Accordingly, to the extent that the Company issues New Shares to Shareholders who elect to receive
the Enhanced Scrip Dividend Alternative, no dividend will arise for South African tax purposes and
no income tax or dividends tax consequences will arise in South Africa.

Securities transfer tax will not be payable in respect of the issue of New Shares to South African
Shareholders.

The New Shares received by a South Africa resident Shareholder instead of a cash dividend from the
Company will have no capital gains base cost, meaning that the value of the Shares received may be
subject to capital gains tax on their eventual sale.

A summary of how UK Shareholders and South Africa Shareholders are likely to be treated for tax
purposes if they elect to receive New Shares instead of a cash dividend is set out in Section 2 on
pages 13 to 16 of the Guide containing the terms and conditions of the Enhanced Scrip Dividend
Alternative, which is available on the Company's website, https://www.hammerson.com/investors.
Shareholders are advised to seek their own tax advice from an independent tax adviser should they
be in any doubt as to the tax treatment for them of any cash fractional payment.

Unless otherwise stated, capitalised terms in this announcement shall have the meanings given to
them in the Circular dated 11 October 2021 in connection with the proposed Interim 2021 Dividend and
Enhanced Scrip Dividend Alternative which can be found at: https://www.hammerson.com/investors.
 Registered Office        UK Registrars               SA Transfer Secretaries
 Kings Place              Link Group                  Computershare Investor
 90 York Way              10th Floor                  Services Proprietary Limited
 London                   Central Square              (Registration number
 N1 9GE                   29 Wellington Street        2004/003647/07)
 United Kingdom           Leeds                       1st Floor, Rosebank Towers
                          LS1 4DL                     15 Biermann Avenue,
                                                      Rosebank, 2196
                                                      South Africa
                                                      (Private Bag, X9000, Saxonwold 2132 South
                                                      Africa)

For further information contact:

Josh Warren
Director of Strategy and Investor Relations
Tel: +44 20 7887 1053
josh.warren@hammerson.com



Hammerson has its primary listing on the London Stock Exchange and secondary inward listings
on the Johannesburg Stock Exchange and Euronext Dublin.

Sponsor: Investec Bank Limited

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.

Although the information in this announcement is believed to be correct at the time of publication,
the decision whether to elect to receive the Enhanced Scrip Dividend Alternative is the sole
responsibility of each Shareholder. The information contained in this announcement is not a complete
analysis of all potential tax consequences arising from the payment of a dividend.
A Shareholder's tax position will depend upon their personal circumstances. Shareholders are
advised to consult their professional advisors regarding the tax consequences of the cash Interim
2021 Dividend and the Enhanced Scrip Dividend Alternative should they be in any doubt as to the
appropriate action to take.

If you are in any doubt as to your tax position or you are subject to tax in a jurisdiction outside the
UK or South Africa, you should consult an appropriate professional adviser before taking any action.

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, the Republic of Ireland and South Africa 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.

Date: 28-10-2021 12:12:00
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