Industrials REIT : Notification and public disclosure of transactions by directors in accordance with the UK Market Abuse Regulation

INDUSTRIALS REIT LIMITED

(formerly Stenprop Limited)

(Registered in Guernsey)

(Registration number 64865)

LSE share code: MLI JSE share code: MLI

ISIN: GG00BFWMR296

("Industrials REIT" or the "Company")

16 March 2022

Notification and public disclosure of transactions by directors in accordance with the UK Market Abuse

Regulation

The Company announces that on 15 March 2022, the following directors of the Company were granted options to purchase Company shares under the Industrials Reit 2022 ShareSave plan ("2022 ShareSave Plan") at an option price of £1.5546 per share. The scheme is a UK HM Revenue & Customs approved all-employee Save As You Earn share option plan, under which employees are able to save from their monthly salary funds to exercise share options at the end of the savings period at a fixed discounted option price.

PDMRs	No. of options
Paul Arenson	11,578
James Beaumont	2,315
Julian Carey	5,785

Options will be exercisable from May 2025.

This announcement is made in accordance with Article 19 of the UK Market Abuse Regulation. The relevant FCA notifications are set out below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr Paul Arenson
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
	monitor
a)	Name	Industrials REIT Limited

b)	LEI	5493004JYL71EMLTB211
4.1	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
	transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial	Ordinary shares with a nominal value of €0.000001258
	instrument, type of instrument
	Identification code	GG00BFWMR296
b)	Nature of the transaction and	Grant of share options under the Company's 2022 ShareSave Plan.
	extent of director's interest
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£1.5546	11,578
d)	Aggregated information
	- Aggregated volume	11,578
	- Aggregated Price	£17,999.16
e)	Date of the transaction	2022-03-15
f)	Place of the transaction	Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr James Beaumont
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
	monitor
a)	Name	Industrials REIT Limited
b)	LEI	5493004JYL71EMLTB211

4.1 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)	Description	of	the	financial	Ordinary shares with a nominal value of €0.000001258
	instrument, type of instrument
	Identification code		GG00BFWMR296
b)	Nature of the transaction and	Grant of share options under the Company's 2022 ShareSave Plan.
	extent of director's interest
c)	Price(s) and volume(s)
						Price(s)	Volume(s)
						£1.5546	2,315
d)	Aggregated information
	- Aggregated volume		2,315
	- Aggregated Price		£3,598.90
e)	Date of the transaction		2022-03-15
f)	Place of the transaction	Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name				Mr Julian Carey
2	Reason for the notification
a)	Position/status			Managing Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
	monitor
a)	Name				Industrials REIT Limited
b)	LEI				5493004JYL71EMLTB211
4.1	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
	transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description	of	the	financial	Ordinary shares with a nominal value of €0.000001258
	instrument, type of instrument
	Identification code		GG00BFWMR296

b)	Nature of the transaction and	Grant of share options under the Company's 2022 ShareSave Plan.
	extent of director's interest
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£1.5546	5,785
d)	Aggregated information
	- Aggregated volume	5,785
	- Aggregated Price	£8,993.36
e)	Date of the transaction	2022-03-15
f)	Place of the transaction	Outside a trading venue

For further information:
Industrials REIT Limited	[phone]
Paul Arenson ([e-mail])
Julian Carey ([e-mail])
James Beaumont
([e-mail])
Numis Securities Limited (Financial Adviser)	[phone]
Hugh Jonathan
Vicki Paine
FTI Consulting (PR Adviser)	[phone]
Richard Sunderland
Richard Gotla
Neel Bose
[e-mail]
Java Capital	[phone]
(JSE Sponsor)
About Industrials REIT:

Industrials REIT is a UK REIT listed on the LSE and the JSE. The objective of the Company is to deliver sustainable growing income to its investors. Industrials REIT invests in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to www.industrialsreit.com