Cancellation of Ordinary Shares

11 May 2023

Shoe Zone plc

("Shoe Zone" or the "Company")

Cancellation of Ordinary Shares

Shoe Zone (AIM:SHOE) announces the cancellation of 500,000 ordinary shares of £0.01 each in the Company ("Ordinary Shares"), currently held in treasury (the "Cancellation").

Following the Cancellation, the issued share capital of the Company stands at 48,000,000 and the Company now holds 236,946 shares in treasury. The total voting rights remains unchanged at 47,763,054 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Shoe Zone under the FCA's Disclosure Guidance and Transparency Rules.

Shoe Zone PLC

Tel: +44 (0) 116 222 3000

Anthony Smith (Chief Executive)

Terry Boot (Finance Director)

Zeus (Nominated Adviser and Broker)

Tel: +44 (0) 203 829 5000

David Foreman, James Hornigold, Ed Beddows (Investment Banking)

Dominic King (Corporate Broking)