Grant of Share Awards

3 July 2025

PICTON PROPERTY INCOME LIMITED

('Picton' or the 'Company')

GRANT OF SHARE AWARDS

Picton announces that the following awards have been granted to Persons Discharging Managerial Responsibility ('PDMRs').

Each of the following PDMRs have, on 30 June 2025, been granted awards over ordinary shares in Picton Property Income Limited, being contingent share awards in the form of nil-cost options under the terms of the Picton Property Income Limited 2016 Long Term Incentive Plan ('LTIP') and deferred awards under the terms of the Picton Property Income Limited 2018 Deferred Bonus Plan ('DBP'), as set out below:

The nil-cost options awarded under the 2024 LTIP will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2027. The actual number of shares that will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 April 2024 to 31 March 2027. No consideration was paid for any of the awards and no consideration is due on vesting.

The nil-cost options awarded under the 2025 LTIP will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2028. The actual number of shares that will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 April 2025 to 31 March 2028. No consideration was paid for any of the awards and no consideration is due on vesting.

The deferred awards under the 2025 DBP will vest, subject to continued employment, on 30 June 2027. No consideration was paid for the awards and no consideration is due on vesting.

Separately the Company can confirm the revised 2025 LTIP metric relating to Total Shareholder Return (TSR) performance. Previously this has been by reference to a specific peer group, but as detailed on page 118 and page 129 of the 2025 Annual Report, the peer group has reduced in size such that it is no longer appropriate. For completeness, the 2025 LTIP award performance conditions are shown in the table below.

This notification is made in accordance with the Market Abuse Regulation.

For further information:

Picton

Kathy Thompson, Company Secretary

020 7011 9988, [email protected]

About Picton

Established in 2005, Picton is listed on the main market of the London Stock Exchange and is a constituent of a number of EPRA indices including the FTSE EPRA Nareit Global Index.

Picton owns and actively manages a £723 million UK commercial property portfolio, invested across 47 assets and with around 350 occupiers (as at 31 March 2025).

Through an occupier focused, opportunity led approach, Picton aims to be the consistently best performing diversified UK REIT and has delivered upper quartile outperformance and a consistently higher income return than the MSCI Quarterly Property Index since launch. 

With a portfolio strategically positioned to capture income and capital growth, currently weighted towards the industrial sector, Picton's agile business model provides flexibility to adapt to evolving market trends over the long-term.

Picton has a responsible approach to business and is committed to being net zero carbon by 2040.

For more information please visit: www.picton.co.uk

LEI: 213800RYE59K9CKR4497

ENDS