Extension of Tender Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES, OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION

FOR IMMEDIATE RELEASE

18 November 2020

EXTENSION OF TENDER OFFER

Glenstone Property PLC ("Glenstone") announces that its tender offer to acquire up to 20,125,000 ordinary shares for cash in Alternative Income REIT PLC ("AIRE") will remain open until 1.00pm on Thursday 19 November 2020 to enable the tenders to be processed.

The Record Date for the Tender Offer will therefore be 6.00pm on Thursday 19 November and the other terms of the Tender Offer remain unchanged.

The results of the Tender Offer will be announced on Friday 20 November.

Enquiries:

Terms defined in the offer document dated 3 November 2020 have the same meaning when used in this announcement.