IMPORTANT NOTICE

Possible offer (the Possible Offer) for The Local Shopping REIT plc (LSR) by Thalassa Holdings Ltd (Thalassa).

THIS SECTION OF THE WEBSITE (THE MICRO-SITE) CONTAINS ANNOUNCEMENTS, DOCUMENTS AND INFORMATION RELATING TO THE POSSIBLE OFFER (TOGETHER, THE INFORMATION). THE INFORMATION IS BEING MADE AVAILABLE IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY. THE AVAILABILITY OF THE INFORMATION IS SUBJECT TO THE TERMS AND CONDITIONS SET OUT BELOW.

ACCESS TO THE MICRO-SITE MAY BE RESTRICTED UNDER THE SECURITIES LAWS OF CERTAIN JURISDICTIONS. IN PARTICULAR, THE INFORMATION IS NOT DIRECTED AT, AND IS NOT ACCESSIBLE BY, PERSONS RESIDENT, OR OTHERWISE LOCATED, IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

Basis of access to the Micro-Site

Please read this notice carefully before clicking "I agree" or "I disagree" below. This notice applies to all persons who view the Micro-Site. This notice may be amended or updated by Thalassa from time to time and, accordingly, it should be read carefully in full each time you wish to view the Micro-Site. In addition, the content of the Micro-Site, and its availability to persons resident in certain jurisdictions, may be amended at any time in whole or in part at the sole discretion of Thalassa.

Any person seeking access to the Micro-Site represents and warrants to Thalassa that they are doing so for information purposes only. Making the Information available does not constitute an offer to sell or the solicitation of an offer to buy shares in LSR. Further, it does not constitute a recommendation by Thalassa or any other party to sell or buy securities in LSR.

The Possible Offer does not represent a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers and there can be no certainty that any offer will ultimately be made.

LSR shareholders should seek advice from an independent financial adviser as to the suitability of any action for the individual concerned in connection with the Possible Offer. Any shareholder action required in connection with the Possible Offer will be set out in documents sent to or made available to LSR shareholders and any decision made by such shareholders should be made solely on the basis of information provided in those documents.

Overseas persons

Viewing the Information in jurisdictions other than the United Kingdom may be prohibited or restricted by applicable law and regulation. In some jurisdictions, only certain categories of person are allowed to view the Information. Any person resident outside the United Kingdom who wishes to view the Information must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

Copies of any documents relating to the Possible Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, transmitted, distributed, sent or accessed in or into or from the United States, Canada, Australia or Japan or any other jurisdiction where to do so may result in a significant risk of civil, regulatory or criminal exposure for Thalassa or LSR (a Restricted Jurisdiction). Persons receiving such documents (including, without limitation, custodians, nominees and trustees) should observe these restrictions and must not mail or otherwise forward, transmit, distribute or send them in or into or from the United States, Canada, Australia or Japan or any other Restricted Jurisdiction.

If you are not permitted to download or view the Information, or if downloading or viewing the Information would result in a breach of the above, or if you are in any doubt as to whether you are permitted to download or view the Information, please exit this webpage by clicking on the "I disagree" box below.

Thalassa securities

The Information is not intended to, and does not, constitute or form any part of an offer to sell or an invitation to purchase or subscribe for any securities in Thalassa or the solicitation of an offer to buy or subscribe for any securities in Thalassa.

Any securities to be issued by Thalassa in connection with the Possible Offer have not been, and will not be, registered under the US Securities Act of 1933, as amended (the Securities Act), or under the securities laws of, or of any state, district, province or other jurisdiction of, the United States, Canada, Australia or Japan or any other Restricted Jurisdiction. No regulatory clearances in respect of such Thalassa securities have been, or will be, applied for in any state, province, territory or jurisdiction other than the United Kingdom. Accordingly, unless an exemption under relevant securities laws is applicable, such Thalassa securities are not being, and may not be, offered, sold, resold, delivered, distributed or otherwise transferred, directly or indirectly, in or into the United States, Canada, Australia or Japan or any other Restricted Jurisdiction, or to or for the account or benefit of any US Person (as defined in Regulation S under the Securities Act) or resident of Canada, Australia or Japan.

Forward looking statements

The Information may contain "forward-looking statements" relating to LSR and/or Thalassa and the business sectors in which they operate. Generally, the words will, may, should, continue, believes, expects, intends, anticipates, forecast, plan and project or similar expressions identify forward-looking statements. Such statements reflect relevant current views with respect to future events and are subject to risks, assumptions and uncertainties that could cause the actual results to differ materially from those expressed or implied in the forward-looking statements. Many of these risks, assumptions and uncertainties relate to factors that are beyond the companies' abilities to control or estimate precisely, such as future market conditions, changes in general economic and business conditions, introduction of competing products and services, lack of acceptance of new products and services and the behaviour of other market participants. Thalassa cannot give any assurance that the forward-looking statements will prove to have been correct. The reader should not, therefore, place undue reliance on these forward-looking statements, which speak only as of the date of the relevant document(s). Thalassa does not undertake any obligation to update or revise publicly any of the forward-looking statements set out in the Information, whether as a result of new information, future events or otherwise, except to the extent legally required.

Responsibility

In relation to any Information, the only responsibility accepted by the directors of Thalassa is for the correctness of its reproduction, unless the responsibility statement in any relevant document expressly provides otherwise.

Neither Thalassa nor its affiliated companies have reviewed and none of them is responsible for, or accepts any liability in respect of, any information on any other website that may be linked to this website by a third party.

If you are in any doubt about the contents of the Micro-Site or the action you should take, you should seek your own financial advice from an independent financial adviser authorised under the Financial Services and Markets Act 2000 or, if you are located outside the United Kingdom, from an appropriately authorised independent financial adviser.

finnCap Ltd (finnCap), which is regulated by the Financial Conduct Authority, is acting as financial adviser to Thalassa and no one else in connection with the Possible Offer. In connection with such matters, finnCap, its affiliates and its or their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to anyone other than Thalassa for providing the protections afforded to their clients or for providing advice in relation to the Possible Offer or any other matter referred to in the Information.

THE DOCUMENTS IN THE MICRO-SITE MAY NOT BE DOWNLOADED, FORWARDED, TRANSMITTED OR SHARED WITH ANY OTHER PERSON EITHER IN WHOLE OR IN PART WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

This notice shall be governed by, and interpreted in accordance with, English law.

Confirmation of understanding and acceptance of this notice

By clicking on "I agree" below, you:

confirm that you have read, understood and agree to be bound by the terms of the notice set out above;

warrant and represent that you are not a resident of, or otherwise located in any jurisdiction where accessing the Information would constitute a violation of the relevant laws or regulations of that jurisdiction (or acting on behalf of any person resident of or otherwise located in any such jurisdiction); and

agree that you will not transmit or otherwise send (directly or indirectly) any Information to any person in any jurisdiction if to do so would breach any applicable law or regulation.

If you click "I disagree" below, we will be unable to provide you with access to the Information and you will be redirected to Thalassa’s homepage.

Offer

18/04/2019 - Public opening position disclosure - Form 8.5

17/04/2019 - Public opening position disclosure - Form 8.3

16/04/2019 - Public opening position disclosure - Form 8.5

12/04/2019 - Public opening position disclosure - Form 8.5

11/04/2019 - Public opening position disclosure - Form 8.5

11/04/2019 - Further Extension of offer

08/04/2019 - Public opening position disclosure - Form 8.5

04/04/2019 - Public opening position disclosure - Form 8.5

02/04/2019 - Shareholder letter

02/04/2019 - Legal opinion on the LSR Board's proposal

28/03/2019 - Extension of offer

28/03/2019 - Public opening position disclosure - Form 8.5

27/03/2019 - Public opening position disclosure - Form 8.5

25/03/2019 - Letter to LSR shareholders

25/03/2019 - Response to LSR announcement

21/03/2019 - Public opening position disclosure - Form 8.5

19/03/2019 - Cover letter to Thalassa Statement

19/03/2019 - Statement regarding LSR's Response Circular

19/03/2019 - Public opening position disclosure - Form 8.5

18/03/2019 - Public opening position disclosure - Form 8.5

15/03/2019 - Public opening position disclosure - Form 8.5

14/03/2019 - Public opening position disclosure - Form 8.5

13/03/2019 - Public opening position disclosure - Form 8.5

12/03/2019 - Public opening position disclosure - Form 8.5

08/03/2019 - Public opening position disclosure - Form 8.5

06/03/2019 - Thalassa Holdings Ltd Memorandum & Articles of Association

06/03/2019 - Posting of Offer Document

06/03/2019 - Prospectus Equivalent Document

06/03/2019 - Offer Document

06/03/2019 - Form of Acceptance

06/03/2019 - finnCap Consent Letter – Prospectus

06/03/2019 - finnCap Consent Letter – Offer Document

06/03/2019 - WHI Trading Underlying data 1

06/03/2019 - WHI Trading Underlying data 2

06/03/2019 - FinnCap LSR Trade Reference

06/03/2019 - Public opening position disclosure - Form 8.5

05/03/2019 - Public opening position disclosure - Form 8.5

04/03/2019 - Public opening position disclosure - Form 8.5

01/03/2019 - Public opening position disclosure - Form 8.5

28/02/2019 - Public opening position disclosure - Form 8.5

21/02/2019 - Public opening position disclosure - Form 8.5

18/02/2019 - Opening Position Disclosure – Form 8.5

06/02/2019 - 2019.02.06 finnCap-R2.7 Consent Letter

06/02/2019 - Firm Offer for the local shopping REIT

05/02/2019 - Opening Position Disclosure – Form 8.5

04/02/2019 - Opening Position Disclosure – Form 8.3

31/01/2019 - Opening Position Disclosure – Form 8.5

23/01/2019 - Opening Position Disclosure – Form 8.5

21/01/2019 - Opening Position Disclosure – Form 8.3

18/01/2019 - Opening PositionDisclosure – Form 8.5

16/01/2019 - Public Opening Position Disclosure

16/01/2019 - Public Opening Position Disclosure

16/01/2019 - Public Opening Position Disclosure

10/01/2019 - Public Opening Position Disclosure

09/01/2019 - Possible Offer for LSR

Thalassa Holdings Ltd, Folio Chambers, PO Box 800, Road Town, Tortola, VG1110, British Virgin Islands.
Tel: +1 284 494 7065 | Fax: +1 284 494 8356 | Email: enquiries@thalassaholdingsltd.com