Publication of Supplementary Prospectus

TARGET HEALTHCARE REIT PLC

18 September 2019

LEI: 213800RXPY9WULUSBC04

PUBLICATION OF SUPPLEMENTARY PROSPECTUS

Target Healthcare REIT plc (the "Company") has today published a supplementary prospectus approved by the Financial Conduct Authority. The publication of the supplementary prospectus is a regulatory requirement under the Prospectus Regulation Rules following the publication of the Group's Annual Report and Financial Statements for the year ended 30 June 2019.

The supplementary prospectus is supplemental to, and should be read in conjunction with, the prospectus published by the Company on 21 June 2019.

A copy of the supplementary prospectus will shortly be available for inspection at the National Storage Mechanism which is located at http://www.morningstar.co.uk/uk/NSM

The supplementary prospectus is also available in electronic form on the Company's website at www.targethealthcarereit.co.uk and available for collection during normal business hours on any day (Saturday, Sunday and public holidays excepted) until 20 June 2020 at the offices of Dickson Minto W.S., Broadgate Tower, 20 Primrose Street, London EC2A 2EW.

The Company's legal entity identifier: 213800RXPY9WULUSBC04