Issue of Shares re. pre-existing arrangements

31 March 2016

Secure Income REIT Plc (the "Company")

Issue of Shares in connection with pre-existing arrangements

The Company announces that, pursuant to the Commitment Agreement as disclosed in the Company's Admission Document dated 30 May 2014 (the "Admission Document"), the eighth tranche of six new ordinary shares of 10 pence each (a "Share") has been subscribed for by certain of its pre-IPO investors (the "Original Investors") in respect of the advisory fee payable by the Company to Prestbury Investments LLP ("Prestbury") for the quarter ended 31 March 2016. The total subscription price payable by the Original Investors for the shares to be issued to them is £1,321,244 which represents the maximum quarterly amount payable under the terms of the Commitment Agreement.

This eighth tranche of six Shares to be issued under this arrangement have been allotted today and issued pursuant to the Company's block listing authority.

The Commitment Agreement was entered into on 29 May 2014 in order to allow certain investors to subsidise (in whole or in part) the Company's advisory fee payable to Prestbury during the period from the IPO to 10 July 2016. The subsidy is capped at a maximum of £1,321,244 per quarter, with a total of 54 shares to be issued. Following the subscription above 48 ordinary shares will have been issued under the agreement.

The details of this quarter's subscriptions are as follows:

PIHL Property LLP is connected with Nick Leslau, a Director of the Company, in accordance with section 252 of the Companies Act 2006 (the "Act"). In addition Nick Leslau is connected, in accordance with section 252 of the Act, with the Saper Trust which holds 57,471 Shares, and he is also a member of Prestbury Investments LLP which holds 9,826,009 Shares in the Company through its wholly owned subsidiary, Prestbury Incentives Limited. PIHL Property LLP, the Saper Trust and Prestbury Incentives Limited are members of the Prestbury Concert Party (as defined in the Admission Document). Following the issue of the eighth tranche of Shares pursuant to the Commitment Agreement: (i) the Prestbury Concert Party, has a beneficial holding of 33,154,991 Shares, representing 18.4% of the Company's voting rights; and (ii) the Concert Party (as defined in the Admission Document), which includes the Prestbury Concert Party, holds 43,809,870 Shares, representing 24.3% of the voting rights in the Company.

Following the allotment of the Shares, and in accordance with the Disclosure and Transparency Rules, the Company's issued voting ordinary share capital will comprise 180,344,234 Shares, an increase of six Shares. There are no Shares held in treasury. The above figure 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 in their interest in, the ordinary share capital of the Company under the Disclosure and Transparency Rules.

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