Palace Capital : Annual Report and Notice of Annual General Meeting

23 June 2021

Palace Capital PLC

('Palace Capital' or the 'Company')

Annual Report and Notice of Annual General Meeting

Palace Capital (LSE: PCA), the Main Market REIT that has a UK regional commercial real estate portfolio focused on the office and industrial sectors in carefully selected locations outside of London, announces that the Company's Annual Report and Accounts for the year ended 31 March 2021 and Notice of Annual General Meeting, ('AGM') have been despatched to shareholders.

The documents are available on the Company's website www.palacecapitalplc.com and will shortly be available for inspection at the National Storage Mechanism, https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The AGM will be held at the offices of Edwin Coe LLP, 2 Stone Buildings, Lincoln's Inn, London, WC2A 3TH at 10.00 am on 29 July 2021. The Company currently intends to hold an open meeting where shareholders can attend in person. As a consequence of the COVID-19 restrictions, you must register your intention to attend the AGM by e-mailing the Company Secretary at info@palacecapitalplc.com confirming your attendance.

The Company is closely monitoring the evolving nature of the COVID-19 restrictions and will continue to do so ahead of the AGM. Should the situation change such that we consider that it is no longer possible for shareholders to attend the meeting in person, we will notify shareholders of the change, prior to the AGM, via an RNS announcement and on the Company's website (www.palacecapitalplc.com). As a result, shareholders are strongly encouraged to submit their votes by proxy as soon as possible, appointing the Chairman of the AGM as their proxy.

For further information, contact:

Joint Broker

Numis Securities

Heraclis Economides / George Fry

Tel: +44 (0)20 7260 1000

Joint Broker

Arden Partners plc

Corporate Finance: Paul Shackleton / Akhil Shah

Corporate Broking: James Reed-Daunter

Tel: +44 (0)207 614 5900

FTI Consulting (Financial PR)

Claire Turvey / Methuselah Tanyanyiwa

palacecapital@fticonsulting.com

Tel. +44 (0)20 7271000

About Palace Capital plc (www.palacecapitalplc.com):

Palace Capital plc (LSE: PCA) is a UK REIT that has a £282.8 million diversified portfolio of UK regional commercial property. The Company maintains a disciplined investment strategy focused on towns and cities outside of London that are characterised by thriving local economies and strengthening fundamentals. Within those locations the highly experienced management team select assets that provide opportunities to drive both capital value and long-term rental income through tailored active asset management programmes ultimately delivering attractive shareholder returns.