FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Name of exempt principal trader:
Nomura International Plc
Mitchells & Butlers Plc
(c) Name of the party to the offer with which exempt principal trader is connected:
Mitchells & Butlers Plc
(d) Date position held/dealing undertaken:
15 September 2011
(e) Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?
NO

2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:
8 13/24p ordinary shares
Interests
Short positions
Number
%
Number
%
(1) Relevant securities owned and/or controlled:
167,422
0.041%
136,340
0.033%
(2) Derivatives (other than options):
(3) Options and agreements to purchase/sell:
TOTAL:
167,422
0.041%
136,340
0.033%

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other executive options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a) Purchases and sales

Class of relevant security
Purchase/sale
Number of securities
Price per unit
Ordinary Shares
Purchase
722
2.619
Ordinary Shares
Purchase
819
2.620
Ordinary Shares
Purchase
241
2.641
Ordinary Shares
Purchase
5,736
2.649
Ordinary Shares
Purchase
4,628
2.650
Ordinary Shares
Purchase
1,748
2.653
Ordinary Shares
Purchase
1,106
2.654
Ordinary Shares
Purchase
7,781
2.660
Ordinary Shares
Purchase
3,844
2.661
Ordinary Shares
Purchase
1,884
2.663
Ordinary Shares
Purchase
120
2.664
Ordinary Shares
Purchase
1,814
2.666
Ordinary Shares
Purchase
1,790
2.668
Ordinary Shares
Purchase
202
2.669
Ordinary Shares
Purchase
451
2.670
Ordinary Shares
Purchase
12,117
2.671
Ordinary Shares
Purchase
803
2.672
Ordinary Shares
Purchase
9,020
2.674
Ordinary Shares
Purchase
3,517
2.675
Ordinary Shares
Purchase
414
2.676
Ordinary Shares
Purchase
4,790
2.677
Ordinary Shares
Purchase
970
2.678
Ordinary Shares
Purchase
8,361
2.679
Ordinary Shares
Purchase
22,773
2.680
Ordinary Shares
Purchase
4,470
2.681
Ordinary Shares
Purchase
19,075
2.682
Ordinary Shares
Purchase
4,022
2.683
Ordinary Shares
Purchase
4,493
2.684
Ordinary Shares
Purchase
4,681
2.685
Ordinary Shares
Purchase
4,650
2.686
Ordinary Shares
Purchase
10,095
2.687
Ordinary Shares
Purchase
3,613
2.688
Ordinary Shares
Purchase
94
2.689
Ordinary Shares
Purchase
5,407
2.689
Ordinary Shares
Purchase
123,680
2.690
Ordinary Shares
Purchase
1,167
2.691
Ordinary Shares
Purchase
9,700
2.691
Ordinary Shares
Purchase
8,109
2.692
Ordinary Shares
Purchase
1,775
2.692
Ordinary Shares
Purchase
8,124
2.693
Ordinary Shares
Purchase
745
2.694
Ordinary Shares
Purchase
8,101
2.695
Ordinary Shares
Purchase
2,020
2.696
Ordinary Shares
Purchase
7,498
2.697
Ordinary Shares
Purchase
3,478
2.698
Ordinary Shares
Purchase
2,296
2.699
Ordinary Shares
Purchase
22,422
2.700
Ordinary Shares
Purchase
27,409
2.701
Ordinary Shares
Purchase
18,424
2.702
Ordinary Shares
Purchase
32,926
2.703
Ordinary Shares
Purchase
37,665
2.704
Ordinary Shares
Purchase
5,809
2.705
Ordinary Shares
Purchase
5,580
2.706
Ordinary Shares
Purchase
864
2.707
Ordinary Shares
Purchase
388
2.709
Ordinary Shares
Purchase
285
2.710
Ordinary Shares
Purchase
1,544
2.711
Ordinary Shares
Purchase
1,982
2.713
Ordinary Shares
Purchase
259
2.714
Ordinary Shares
Purchase
1,109
2.715
Ordinary Shares
Purchase
1,506
2.716
Ordinary Shares
Purchase
10
2.718
Ordinary Shares
Purchase
22,402
2.721
Ordinary Shares
Sale
1,231
2.649
Ordinary Shares
Sale
15,574
2.650
Ordinary Shares
Sale
2,402
2.652
Ordinary Shares
Sale
2,224
2.653
Ordinary Shares
Sale
949
2.663
Ordinary Shares
Sale
207
2.664
Ordinary Shares
Sale
2,256
2.667
Ordinary Shares
Sale
3,227
2.668
Ordinary Shares
Sale
1,917
2.669
Ordinary Shares
Sale
4,213
2.670
Ordinary Shares
Sale
1,080
2.671
Ordinary Shares
Sale
10,532
2.672
Ordinary Shares
Sale
373
2.673
Ordinary Shares
Sale
15,823
2.674
Ordinary Shares
Sale
4,359
2.675
Ordinary Shares
Sale
5,679
2.676
Ordinary Shares
Sale
10,919
2.677
Ordinary Shares
Sale
13,125
2.678
Ordinary Shares
Sale
8,894
2.679
Ordinary Shares
Sale
34,126
2.680
Ordinary Shares
Sale
4,275
2.681
Ordinary Shares
Sale
13,552
2.682
Ordinary Shares
Sale
9,250
2.683
Ordinary Shares
Sale
9,372
2.684
Ordinary Shares
Sale
10,096
2.685
Ordinary Shares
Sale
6,554
2.686
Ordinary Shares
Sale
9,880
2.687
Ordinary Shares
Sale
8,849
2.688
Ordinary Shares
Sale
3,270
2.689
Ordinary Shares
Sale
18,071
2.690
Ordinary Shares
Sale
8,241
2.691
Ordinary Shares
Sale
1,321
2.692
Ordinary Shares
Sale
3,214
2.693
Ordinary Shares
Sale
1,232
2.694
Ordinary Shares
Sale
8,911
2.695
Ordinary Shares
Sale
1,728
2.696
Ordinary Shares
Sale
2,681
2.697
Ordinary Shares
Sale
3,773
2.698
Ordinary Shares
Sale
4,913
2.699
Ordinary Shares
Sale
16,344
2.700
Ordinary Shares
Sale
10,129
2.701
Ordinary Shares
Sale
12,290
2.702
Ordinary Shares
Sale
195,218
2.703
Ordinary Shares
Sale
1,696
2.704
Ordinary Shares
Sale
4,265
2.705
Ordinary Shares
Sale
1,234
2.706
Ordinary Shares
Sale
2,123
2.707
Ordinary Shares
Sale
1,232
2.708
Ordinary Shares
Sale
2,312
2.710
Ordinary Shares
Sale
1,827
2.711
Ordinary Shares
Sale
2,879
2.712
Ordinary Shares
Sale
1,235
2.713
Ordinary Shares
Sale
682
2.714
Ordinary Shares
Sale
1,232
2.715
Ordinary Shares
Sale
1,204
2.719
Ordinary Shares
Sale
1,333
2.720

(b) Derivatives transactions (other than options)

Class of relevant security
Number of reference securities
Price per unit

(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Expiry date
Option money paid/ received per unit

(ii) Exercising

Class of relevant security
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Details
Price per unit (if applicable)

The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

None

(b) Agreements, arrangements or understandings relating to options or derivatives

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?
NO
16 September 2011
Koji Kitayama
020 7102 3615

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.