Directors remuneration CAPITAL & REGIONAL PLC (Incorporated in the United Kingdom) (UK company number 01399411) LSE share code: CAL JSE share code: CRP LEI: 21380097W74N9OYF5Z25 ISIN: GB00BL6XZ716 (“Capital & Regional” or “the Company”) DIRECTORS REMUNERATION The Company announces that, mindful of the significant impact of COVID-19 on Capital & Regional’s employees, the Board of Directors have agreed to take a voluntary 20% reduction in salary or fees for the months of April, May and June 2020. The funds saved will be used to support C&R employees and communities most financially impacted by COVID-19. Capital & Regional plc also announces that the Company completed on 28 April 2020 grants of the following share awards of ordinary shares of £0.10 per share as part of the 2019 Bonus Award under the Capital & Regional plc Combined Incentive Plan (the "Plan") to the following Directors of the Company: Lawrence Hutchings 171,899 Stuart Wetherly 92,691 The awards were calculated with reference to the share price at the end of December 2019. The exercise price for the awards granted is a maximum of £0.10 per share. Shares will vest in three equal tranches in years three, four and five from grant and will be subject to the achievement of a relative Total Shareholder Return (TSR) underpin. Further detail on the performance conditions is provided on page 64 of the Company's Annual Report and Accounts for the year ended 30 December 2019. Vested shares will be subject to an additional holding period up to fifth anniversary of the date of grant. Malus and clawback provisions apply. 29 April 2020 JSE sponsor Java Capital Notes to editors: About Capital & Regional plc Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their catchment, serving the non-discretionary and value orientated needs of the local communities. It has a strong track record of delivering value enhancing retail and leisure asset management opportunities across its portfolio of in-town shopping centres. Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform. Capital & Regional is listed on the main market of the London Stock Exchange (LSE) and has a secondary listing on the Johannesburg Stock Exchange (JSE) For further information see capreg.com/ Date: 29-04-2020 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.