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Statement from The Peel Group re intu Properties plc

Thursday, November 29, 2018

John Whittaker, Chairman of The Peel Group, said: “We remain fully committed to intu Properties as a long-term, strategic shareholder, as demonstrated by our participation in the consortium’s possible offer.  Intu’s portfolio of super regional and prime city centre shopping centres is trading strongly and benefitting from the retailer store rationalisation process that is currently underway in the UK.  Physical retail continues to play a key role in all successful multi-channel retailer sales strategies and intu’s national portfolio of centres enjoys some of the highest customer footfall in the country.

There is also significant potential to add to the portfolio through development of under-utilised land for alternative uses such as residential, hotels and offices, creating critical mass in order to provide unparalleled, winning shopping and leisure destinations and experiences, across the UK and Spain. The Peel Group looks forward to continuing to work closely with the Board and the Company’s other supportive, long-term shareholders to deliver on the Company’s planned investment programme.”

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