Proposed Transfer of Listing and Notice of GM

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

FOR IMMEDIATE RELEASE

29 May 2025

SUPERMARKET INCOME REIT PLC

(the "Company") 

RECOMMENDED PROPOSED TRANSFER OF LISTING CATEGORY AND NOTICE OF GENERAL MEETING

Supermarket Income REIT plc (LSE: SUPR), announces that a circular (the "Circular") in relation to the proposed transfer of the Company's listing category from the closed-ended investment funds category to the equity shares (commercial companies) category of the Official List (the "Proposed Transfer") is expected to be published today.

Background to and reasons for the Proposed Transfer

On 4 March 2025, the Company announced the proposed internalisation of its management function (the "Internalisation"), which became effective on 25 March 2025. At the time of the announcement of the Internalisation, the Company also stated its intention seek a transfer of its listing. The Board is pursuing the Proposed Transfer as it believes that the equity shares (commercial companies) category of the Official List is more suited to a UK REIT with an internalised management structure and business strategy as set out in the Circular, alongside the reasons set out below:

· it will significantly improve comparability for investors, as the majority of internally managed UK REITs are listed on the equity shares (commercial companies) category;

· the Company's closest peers are listed under the equity shares (commercial companies) category;

· the Company will benefit from improved operational flexibility, efficiency and accountability of the Group's executive management to shareholders;

· it will reduce the costs and administrative burden associated with being a closed-ended investment fund (in particular, AIFM costs), thereby simplifying the business model and enhancing shareholder returns. The Company will no longer need to have a licensed AIFM;

· the Board has concluded that generating attractive shareholder returns also arguably requires a more commercial/active asset management approach and having the flexibility to pursue new strategies will be a key element of its ongoing success;

· the Board believes that being categorised as a commercial company will increase investor demand both from the UK and overseas;

· it will potentially attract a wider range of research analysts; and

· the Board has consulted with certain shareholders, who are strongly supportive of the Proposed Transfer, particularly for the reasons outlined above.

Capitalised words and expressions not otherwise defined in this announcement shall have the meaning given in the Circular.

Circular

The Circular is expected to be published and posted later today and will be available on the Company's website at https://supermarketincomereit.com/investor-centre/. The Circular sets out, among other things, a notice of a general meeting (the "General Meeting") to be held on 17 June 2025 at which a special resolution to approve the Proposed Transfer will be proposed (the "Resolution"). The Proposed Transfer is subject to the approval from a majority of not less than 75% of the votes attaching to the Ordinary Shares voting on the Resolution and is expected to become effective on 16 July 2025.

Expected Timetable

Notes:

(1) The times set out in the expected timetable of principal events above and mentioned throughout this announcement are times in London unless otherwise stated, and may be subject to change, in which event details of the new times and dates will be notified to Shareholders.

(2) These times and dates are indicative only and will depend on, amongst other things, the date upon which FCA and shareholder approval is granted.

General Meeting

The Board is convening the General Meeting to be held at 10.00 a.m. on 17 June 2025 at the offices of Macfarlanes LLP, 20 Cursitor Street, London EC4A 1LT.

As shareholder participation is important to the Company, shareholders are encouraged to vote ahead of the General Meeting by appointing a proxy in the manner described in the Circular, no later than 10.00 a.m. on 13 June 2025.

Notes to Editors

Supermarket Income REIT plc (LSE: SUPR, JSE: SRI) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the feed the nation infrastructure. The Company focuses on grocery stores which are omnichannel, fulfilling online and in-person sales. The Company's supermarkets are let to leading supermarket operators in the UK and Europe, diversified by both tenant and geography.

The Company's assets earn long-dated, secure, inflation-linked, growing income. The Company targets a progressive dividend and the potential for capital appreciation over the longer term.

The Company is listed on the Closed-ended investment funds category of the FCA's Official List and its Ordinary Shares are traded on the LSE's Main Market. The Company also has a secondary listing on the Main Board of the JSE Limited in South Africa.

Further information is available on the Company's website www.supermarketincomereit.com

LEI: 2138007FOINJKAM7L537

Stifel Nicolaus Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Supermarket Income REIT plc and no one else in connection with this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Stifel Nicolaus Europe Limited nor for providing advice in connection with the matters referred to in this announcement.

Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting exclusively for Supermarket Income REIT plc and no one else in connection with this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Goldman Sachs International nor for providing advice in connection with the matters referred to in this announcement.