Notice of Directorate Change

12 October 2023

Picton Property Income Limited

("Picton" or the "Company")

LEI: 213800RYE59K9CKR4497

Notice of Directorate Change

Appointment of Executive Director and Chief Financial Officer

Picton is pleased to announce the appointment of Saira Johnston to the Board and as Chief Financial Officer, effective 1 April 2024.

Picton also confirms that Andrew Dewhirst has now informed the Company of his decision to retire at the end of March 2024, having worked alongside the rest of the Board to appoint a suitable successor. He will step down from the Board, but remain with the Company until June 2024 to ensure an effective transition, particularly around year end reporting. Saira will start in March 2024 as CFO Designate until Andrew retires.

Saira has spent over 20 years working in the real estate sector where she has held senior finance positions, most recently as CFO of Gravis Capital Management Limited, which has an established business of managing listed real estate and infrastructure assets. Previous roles were at Moorfield Group, CBRE Global Investors/ING Real Estate and Morgan Stanley Real Estate Funds.

A further update will be provided in 2024 at the time of transition.

Lena Wilson, Chair commented:

"On behalf of the Board and the entire team, I would like to express our appreciation for the excellent contribution made by Andrew during his time with Picton since internalisation in 2011. He has played a pivotal role in the success of the business and is a much-valued colleague and we wish him well for his retirement next year. We also warmly welcome Saira to the Board."

Michael Morris, Chief Executive commented:

"Our appointment of Saira is another step forward in Picton's evolution. Saira brings a wealth of real estate finance experience and in particular relevant experience in the listed sector from her current and previous roles."

There are no other details that are required to be disclosed in respect of Rule 9.6.13 of the Listing Rules.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK MARKET ABUSE REGULATION

For further information:

Picton

Katharine Thompson, Company Secretary

020 7011 9988, [email protected]

Tavistock

James Verstringhe

0207 920 3150, [email protected]

About Picton

Picton, established in 2005, is a UK REIT. It owns and actively manages a £761 million diversified UK commercial property portfolio, invested across 49 assets and with around 400 occupiers (as at 30 June 2023).

Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange.

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

ENDS