Holding(s) in Company

For filings with the FCA include the annexFor filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer Picton Property Income Limitedof existing shares to which voting rights areattached:ii 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which mayresult in theacquisition of shares already issued to which voting rights areattached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the Investec Wealth & Investmentnotification obligation:iii Limited 4. Full name of shareholder(s) N/A (if different from 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 1st August2014reached:v 6. Date on which issuer notified: 4th August 2014 7. Threshold(s) that is/are crossed or From 17% to 18%reached:vi, vii 8. Notified details: A: Voting rights attached to sharesviii, ix Class/type Situation previous Resulting situation after the triggering transactionof to the triggeringshares transaction if possible Number Number Number Number of voting % of voting rightsxusing of of of shares rightsthe ISIN Shares VotingCODE Rights Direct Directxi Indirectxii Direct Indirect Ordinary 79,008,143 79,008,143 79,216,369 18.04%shares GB00B0LCW208 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of votingfinancial datexiii Conversion Periodxiv rights that may be rightsinstrument acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstrumentsxv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting rights % of votingfinancial price datexvii Conversion instrument refers to rightsxix, xxinstrument periodxviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 79,216,369 18.04% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:xxi Client holdings registered in the name of Nominee companies 100% owned byInvestec Wealth & Investment Limited. Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will ceaseto hold: N/A 12. Date on which proxy holder will cease to holdvoting rights: N/A 13. Additional information: N/A Phil Beardwell Chartered FCSI14. Contact name: Senior Compliance Manager 15. Contact telephone number: 020 7597 1356