THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(C) OF THE TAKEOVER CODE (THE "CODE") WHICH, AMONGST OTHER THINGS, REQUIRES A PARTY TO AN OFFER TO MAKE AN ANNOUNCEMENT AT THE END OF THE PERIOD OF 12 MONTHS FROM THE END OF THE OFFER PERIOD CONFIRMING WHETHER IT HAS TAKEN, OR NOT TAKEN, THE COURSE OF ACTION SET OUT IN ITS STATED INTENTIONS.

For immediate release

3 November 2022

Custodian REIT plc

(the “Company” or “Custodian REIT”)

Rule 19.6(c) confirmation with respect to stated post-offer intentions with regard to Drum Income Plus REIT plc (“Drum”)

The Company announces that, further to the completion of its recommended all-share acquisition of Drum, which was effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 on 3 November 2021, it has duly confirmed in writing to The Takeover Panel in accordance with the requirements of Rule 19.6(c) of the Code that Custodian REIT has complied with its post-offer statements of intent made pursuant to Rules 2.7(c)(iv) and 24.2 of the Code, as originally detailed in its announcement of 3 September 2021 and the scheme document published on 28 September 2021.

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