THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS NOT DEEMED BY WELNEY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR").

WELNEY PLC

(“Welney” or the “Company”)

Appointment of Corporate Adviser

In the light of the Proposals set out in a Circular and notice of General Meeting today (2^nd June 2020) posted to shareholders and which, if approved, are likely to introduce a number of changes within Welney going forwards, the Company has appointed Keith, Bayley, Rogers & Co. Limited as its Aquis Exchange Growth Market Corporate Adviser with immediate effect. At the same time, Alexander David Securities Limited (“Alexander David”) is stepping down from the role of the Company’s Corporate Adviser.

The Circular and the Proposals contained in it, including for a capital reorganisation, changes in the directorate and a refinancing, are the subject of a regulatory information service announcement issued by the Company at 17.37 hours BST today.

The Directors wish to acknowledge and thank Alexander David for its invaluable support and advice over the past years.

Darren Edmonston,

Chairman,

2^nd June 2020

The Directors of the Company have issued this announcement after due enquiry and they accept responsibility for its content.

REGULATORY ANNOUNCEMENT ENDS

ENQUIRIES:

Welney plc: Darren Edmonston, Director

Telephone: +44 (0)1279 635511

Keith, Bayley, Rogers & Co Limited:  Graham Atthill-Beck

Telephone: +44 (0)20 7464 4091 / +44 (0)7506 43 41 07 / Graham.Atthill-Beck@kbrl.co.uk;

Brinsley Holman

Telephone: +44 (0)20 7464 4098 / +44 (0)7776 30 22 28 / Brinsley.Holman@kbrl.co.uk