RDI completes on sale of German retail portfolio

RDI REIT P.L.C.

 ("RDI" or the "Company" or the "Group")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

LEI: 2138006NHZUMMRYQ1745

RDI completes on sale of German retail portfolio for €205 million

Further to the announcement on 6 November 2017 regarding the exchange of contracts with PATRIZIA Immobilien AG for the sale of the Leopard Portfolio, comprising 66 German retail properties (the "Sale"), RDI, the FTSE 250 income focused UK-REIT, is pleased to confirm that the Sale successfully completed on 29 December 2017.

The consideration reflects a purchase price of €205.0 million, and a 10.8% premium to book value. The Company continued to benefit from the income generated by the portfolio until completion on 29 December 2017 and intends to reinvest the disposal proceeds into new investments at lower leverage. This is in line with RDI's stated strategy of enhancing the quality of the portfolio and its growth prospects. Further announcements will be made by the Company, as appropriate, in due course.

Mike Watters, CEO of RDI commented:

"We remain firm in our commitment to ensuring that the RDI portfolio is in the very best shape to deliver reliable and superior income returns, underpinned by a strong balance sheet and capital structure. While Germany remains a strategically important market for us, this opportunistic disposal not only allows us to benefit from a highly attractive premium, but also to further reduce leverage and recycle proceeds into identified income enhancing investment opportunities."

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About RDI

RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.

Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 39% indexed and has a WAULT of 7.4 years to first break (8.5 years to expiry). This is complemented by an average debt maturity of 7.3 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt. All figures as at 31 August 2017.

The Company owns properties independently valued at £1.5bn in the United Kingdom and Germany, Europe's two largest and most transparent property markets. RDI invests in assets with strong property fundamentals spread across UK shopping centres, UK retail parks, UK offices, UK logistics, UK hotels and German retail.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA and GPR indices.

For more information on RDI, please refer to the Company's website www.rdireit.com