Grant of Contingent Awards

RDI REIT P.L.C.

 ("RDI" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00BH3JLY32

LEI: 2138006NHZUMMRYQ1745

GRANT OF CONTINGENT AWARDS UNDER SHARE PLANS

RDI, the income focused UK Real Estate Investment Trust ("UK-REIT"), announces in accordance with Article 19(3) of the Market Abuse Regulation, the following share awards.

Awards under the long term performance share plan

Contingent share awards have been granted to the executive Directors or other Persons Discharging Managerial Responsibility ("PDMR") under the RDI Long Term Performance Share Plan which was approved by shareholders in November 2013 and forms part of the Company's Remuneration Policy, which was approved by shareholders at the Annual General Meeting held on 23 January 2020 (the "PSP").

Each of the following executive Directors or PDMR has, on 1 December 2020, been granted contingent share awards under the terms of the PSP over the number of ordinary shares in RDI set out below:

Subject to continued employment and the satisfaction of performance targets as set out in the Company's Annual Report, the awards will vest three years from date of grant, and thereafter will be subject to an additional two year holding period. All vested shares must be retained, net of tax, until the executive Director or PDMR has accumulated a shareholding in the Company equivalent to two times base salary as part of the minimum shareholding requirements.

The figures above reflect the maximum number of ordinary shares which could vest. The actual number which will vest will depend on the extent to which the performance targets are satisfied over the performance period. No consideration was paid for any of the awards and no consideration is due on vesting.

Awards under the Short-Term Incentive Plan

Deferred bonus share awards have been granted to the executive Directors and PDMR under the short-term incentive plan, which forms part of the Company's Remuneration Policy approved by shareholders at the Annual General Meeting held on 23 January 2020 ("STIP").

Each of the following executive Directors or PDMR has, on 1 December 2020, been awarded deferred bonus shares in the Company under the terms of the STIP, as set out below:

Under the STIP, executive Directors or PDMRs may receive a bonus of up to 150 per cent of their salary, subject to the achievement of certain performance targets. 40 per cent of such award is made in shares, deferred for two years. The awards will vest two years from date of grant, subject only to continuous employment or good leaver status, and will be subject to the minimum shareholding requirements.

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About RDI

RDI is an income focused UK Real Estate Investment Trust (UK-REIT) with a diversified portfolio invested principally in the UK. The investment approach is driven by an in depth understanding of occupational demand including the impact of technology, transport and infrastructure investment. The portfolio has been repositioned in recent years to increase its weighting to London and the South East and to provide greater exposure to our leading hotel and serviced office operating platforms.

RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an industry leading and sustainable income return.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company is included within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.

For more information on RDI, please refer to the Company's website www.rdireit.com