Believes Big Yellow's Nearly 40% Discount to NAV Is Unwarranted Given the Company's Prime London-Concentrated Portfolio, Resilient Pricing Power and Favorable Customer Mix

Contends a Sale Represents the Optimal Risk-Adjusted Path to Delivering Full Value for Shareholders When Considering Big Yellow's Scarce, Irreplaceable Asset Base and Deep Pool of Likely Buyers

Urges the Board to Explore a Full Sale After Extended Share Price Declines and Following its Evident Failure to Capitalize on Acquirer Interest

Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora”) today released a presentation (available here) detailing what it believes is a near-term opportunity to unlock the significant value trapped within the languishing shares of Big Yellow Group PLC (LSE: BYG) (“Big Yellow” or the “Company”). Ancora has a more than 4% stake in Big Yellow. This new investment was first presented by James Chadwick, President of Ancora Alternatives LLC, at the 17th Annual Sohn San Francisco Investment Conference on October 13, 2026. Visit www.UnlockBigYellow.com for important information and updates.

Ancora plans to engage constructively with Big Yellow to deliver full value for shareholders. Ancora is urging the Company’s Board of Directors (the “Board”) to launch a comprehensive strategic review, including a sale process, soliciting interest from the deep pool of likely strategic and financial acquirers globally. Ancora believes that a sale of Big Yellow represents the best risk-adjusted outcome for shareholders. In addition, with shares at a five-year low, Ancora believes Big Yellow can take pragmatic value-enhancing actions such as divesting non-core assets, rebranding or selling Armadillo and monetizing the property development pipeline.

The presentation outlines Ancora’s view that:

• Big Yellow has a highly resilient business model, with a scarce, irreplaceable asset base, represented by its 99% freehold portfolio concentrated in the prime London market. Big Yellow’s London presence is a competitive moat that enables the Company to charge industry-leading rents and positions Big Yellow to capture the expected growth in self-storage demand. Ancora estimates that 70%–75% of the Company’s total EBITDA is derived from London-based stores.
• The Company is materially undervalued in the public market due to slow U.K. economic growth, a weak domestic housing market, Big Yellow’s failed take-private in 2025 and its capital-intensive yet high-potential property development pipeline.
• Big Yellow currently trades at an unwarranted discount to NAV of almost 40% with an estimated upside of at least 54%.¹ The Company’s shares currently trade for the cheapest valuation in the Company’s 26-year publicly traded history at 14.6x forward EBITDA vs. a historical average of 21.1x, reflecting an approximately 31% discount.²
• Big Yellow’s Board should:
  • Initiate a formal review of strategic alternatives, including soliciting interest from strategic and financial parties while allowing the Company to test value against recent private market transactions. Ancora’s due diligence suggests that despite the failed take-private by Blackstone in 2025, buyer appetite remains strong. If the Company were to run a full strategic process, Ancora believes a transaction would likely occur at a compelling valuation. Ancora estimates that the intrinsic value of Big Yellow is £12.36 per share, reflecting a 5.1% capitalization rate.
  • Pursue the divestiture of non-core assets, rebrand or sell its smaller Armadillo brand, optimize its portfolio for highest and best use, monetize its property development pipeline and repurchase its undervalued shares. These actions, combined with a likely recovery in occupancy and the possibility of an improved U.K./London economic environment, could cause Big Yellow’s shares to materially re-rate from trough levels.

About Ancora

Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management, retirement plan services and insurance solutions to individuals and institutions across the United States. The firm is a long-term supporter of union labor and has a history of working with union groups and public pension plans to deliver long-term value. Ancora’s comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. Ancora Alternatives is the alternative asset management division of Ancora Holdings Group, investing across three primary strategies: activism, multi-strategy and commodities. For more information about Ancora Alternatives, please visit www.ancoraalts.com.

This press release provides a summary of the presentation only. It is subject to the disclaimer and other important information contained in the presentation and is not a substitute for reading the presentation in full.

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¹ Data as of October 9, 2026. Ancora estimates intrinsic value at £12.36 per share.

² FactSet; reflects monthly EV/EBITDA (FY2) from first trading record through October 9, 2026.

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