REMUNERATION COMMITTEE- TERMS OF REFERENCE

Note: References to “the Committee ” shall mean the Remuneration Committee; references to “the Board ” shall mean the Board of Directors; references to “the Company ” shall mean Land Securities Group PLC; references to “the Group ” shall mean the Company and its subsidiaries and references to “the Directors ” shall mean the Directors of the Company. The expression “Remuneration ” shall include salary, non-cash benefits, bonuses, pensions, long-term incentives (including share options and share awards) and contract terms and conditions. 1. Purpose 1.1. The primary function of the Committee is to recommend to the Board the remuneration strategy for the Executive Directors and senior management and to determine within that framework a remuneration policy aligned to the long-term success of the Group. Additionally, and having due regard to the financial and commercial position of the Group, to ensure that the Chairman, Executive Directors and senior management are fairly rewarded for their individual contributions to its overall performance. 2. Membership 2.1. The Committee is established as a Committee of the Board and shall consist of at leas