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:
13 October 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:
191,094
0.047%
122,320
0.030%
(2) Derivatives (other than options):
(3) Options and agreements to purchase/sell:
TOTAL:
191,094
0.047%
122,320
0.030%

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
6,241
2.176
Ordinary Shares
Purchase
2,000
2.182
Ordinary Shares
Purchase
1,232
2.188
Ordinary Shares
Purchase
868
2.196
Ordinary Shares
Purchase
1,903
2.197
Ordinary Shares
Purchase
1,416
2.199
Ordinary Shares
Purchase
1,892
2.2
Ordinary Shares
Purchase
2,328
2.201
Ordinary Shares
Purchase
1,942
2.213
Ordinary Shares
Purchase
2,172
2.219
Ordinary Shares
Purchase
2,035
2.221
Ordinary Shares
Purchase
1,940
2.228
Ordinary Shares
Purchase
1,268
2.229
Ordinary Shares
Purchase
112
2.23
Ordinary Shares
Purchase
2,797
2.231
Ordinary Shares
Purchase
3,079
2.232
Ordinary Shares
Purchase
869
2.235
Ordinary Shares
Purchase
1,270
2.237
Ordinary Shares
Purchase
708
2.24
Ordinary Shares
Purchase
168
2.25
Ordinary Shares
Purchase
520
2.252
Ordinary Shares
Purchase
4,406
2.259
Ordinary Shares
Purchase
31
2.26
Ordinary Shares
Purchase
638
2.272
Ordinary Shares
Purchase
664
2.28
Ordinary Shares
Purchase
1,335
2.282
Ordinary Shares
Purchase
1,370
2.283
Ordinary Shares
Purchase
250
2.289
Ordinary Shares
Purchase
122
2.29
Ordinary Shares
Purchase
17,240
2.3
Ordinary Shares
Purchase
48
2.301
Ordinary Shares
Purchase
12,581
2.31
Ordinary Shares
Purchase
6,700
2.315
Ordinary Shares
Purchase
175
2.318
Ordinary Shares
Purchase
6,440
2.32
Ordinary Shares
Purchase
1,654
2.321
Ordinary Shares
Purchase
4,721
2.324
Ordinary Shares
Purchase
2,267
2.325
Ordinary Shares
Purchase
1,350
2.329
Ordinary Shares
Purchase
3,887
2.348
Ordinary Shares
Purchase
9,434
2.349
Ordinary Shares
Purchase
10,572
2.35
Ordinary Shares
Purchase
9,766
2.351
Ordinary Shares
Purchase
36,152
2.352
Ordinary Shares
Purchase
30,039
2.353
Ordinary Shares
Purchase
2,497
2.354
Ordinary Shares
Purchase
2,571
2.355
Ordinary Shares
Purchase
1,578
2.36
Ordinary Shares
Purchase
963
2.361
Ordinary Shares
Purchase
2,885
2.363
Ordinary Shares
Purchase
1,268
2.365
Ordinary Shares
Purchase
1,268
2.366
Ordinary Shares
Purchase
1,269
2.367
Ordinary Shares
Purchase
449
2.368
Ordinary Shares
Purchase
446
2.369
Ordinary Shares
Purchase
456
2.37
Ordinary Shares
Purchase
6,576
2.373
Ordinary Shares
Purchase
341
2.374
Ordinary Shares
Purchase
299
2.375
Ordinary Shares
Purchase
950
2.376
Ordinary Shares
Purchase
4,692
2.379
Ordinary Shares
Purchase
4,946
2.38
Ordinary Shares
Purchase
4,176
2.386
Ordinary Shares
Purchase
1,816
2.389
Ordinary Shares
Purchase
8,334
2.39
Ordinary Shares
Purchase
1,269
2.394
Ordinary Shares
Purchase
2,536
2.413
Ordinary Shares
Purchase
16,677
2.498
Ordinary Shares
Purchase
3,318
2.5
Ordinary Shares
Purchase
2,002
2.501
Ordinary Shares
Purchase
1,587
2.502
Ordinary Shares
Purchase
1,300
2.504
Ordinary Shares
Purchase
3,434
2.505
Ordinary Shares
Purchase
1,493
2.51
Ordinary Shares
Purchase
2,000
2.519
Ordinary Shares
Purchase
2,526
2.522
Ordinary Shares
Purchase
1,732
2.525
Ordinary Shares
Purchase
1,542
2.533
Ordinary Shares
Purchase
1,200
2.535
Ordinary Shares
Sale
2,137
2.172
Ordinary Shares
Sale
1,000
2.182
Ordinary Shares
Sale
2,138
2.201
Ordinary Shares
Sale
1,000
2.216
Ordinary Shares
Sale
177
2.22
Ordinary Shares
Sale
4,414
2.229
Ordinary Shares
Sale
147
2.23
Ordinary Shares
Sale
2,384
2.232
Ordinary Shares
Sale
3,039
2.233
Ordinary Shares
Sale
3,681
2.234
Ordinary Shares
Sale
3,650
2.237
Ordinary Shares
Sale
1,149
2.239
Ordinary Shares
Sale
26,116
2.24
Ordinary Shares
Sale
500
2.241
Ordinary Shares
Sale
1,538
2.266
Ordinary Shares
Sale
894
2.28
Ordinary Shares
Sale
1
2.284
Ordinary Shares
Sale
354
2.285
Ordinary Shares
Sale
1,637
2.29
Ordinary Shares
Sale
800
2.296
Ordinary Shares
Sale
900
2.298
Ordinary Shares
Sale
15,825
2.3
Ordinary Shares
Sale
1,382
2.301
Ordinary Shares
Sale
460
2.303
Ordinary Shares
Sale
1,862
2.313
Ordinary Shares
Sale
555
2.314
Ordinary Shares
Sale
2,474
2.315
Ordinary Shares
Sale
309
2.317
Ordinary Shares
Sale
2,993
2.318
Ordinary Shares
Sale
14,971
2.32
Ordinary Shares
Sale
3,666
2.324
Ordinary Shares
Sale
4,933
2.325
Ordinary Shares
Sale
1,439
2.327
Ordinary Shares
Sale
276
2.328
Ordinary Shares
Sale
4,048
2.33
Ordinary Shares
Sale
1,177
2.333
Ordinary Shares
Sale
5,269
2.339
Ordinary Shares
Sale
5,350
2.34
Ordinary Shares
Sale
771
2.341
Ordinary Shares
Sale
2,822
2.348
Ordinary Shares
Sale
30,081
2.35
Ordinary Shares
Sale
25,152
2.351
Ordinary Shares
Sale
1,186
2.353
Ordinary Shares
Sale
56,673
2.357
Ordinary Shares
Sale
1,930
2.36
Ordinary Shares
Sale
9,394
2.361
Ordinary Shares
Sale
380
2.365
Ordinary Shares
Sale
600
2.366
Ordinary Shares
Sale
1,100
2.369
Ordinary Shares
Sale
4,164
2.373
Ordinary Shares
Sale
369
2.378
Ordinary Shares
Sale
1,798
2.379
Ordinary Shares
Sale
3,010
2.388
Ordinary Shares
Sale
678
2.389
Ordinary Shares
Sale
3,723
2.393
Ordinary Shares
Sale
4,911
2.394
Ordinary Shares
Sale
237
2.396
Ordinary Shares
Sale
186
2.449
Ordinary Shares
Sale
11,710
2.5
Ordinary Shares
Sale
1,000
2.515
Ordinary Shares
Sale
2,185
2.522
Ordinary Shares
Sale
1,000
2.523
Ordinary Shares
Sale
185
2.524
Ordinary Shares
Sale
634
2.525
Ordinary Shares
Sale
20
2.526
Ordinary Shares
Sale
3,228
2.527
Ordinary Shares
Sale
700
2.528
Ordinary Shares
Sale
1,652
2.533

TOTAL BUY - 288,998

TOTAL SELL - 296,124

(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
14 October 2011
Kyere Tabiri
020 7102 1267

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.