Grant of Awards

21 March 2017

REAL ESTATE INVESTORS PLC

(“REI” or the “Company”)

Grant of Awards

Real Estate Investors Plc (AIM:RLE), the Birmingham based property group and UK listed Real Estate Investment Trust (‘REIT’), announces that on 20 March 2017 it granted annual awards to two Directors and other employees under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan adopted in 2010.  The awards give rights to certain Directors to acquire shares over a total of 1,031,746 ordinary shares in the Company (“Ordinary Shares”) as detailed below at a price of 10p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares).  The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid.  The performance conditions will be measured over the three years up to the vesting date with full vesting if 14% levels of annual return/growth are achieved.

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About Real Estate Investors Plc

Real Estate Investors Plc is a publicly quoted property investment company with a portfolio of 1.4 million sq ft of commercial property managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.

The Company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings.  The portfolio has no material reliance on a single asset or occupier.

On 1st January 2015, the Company converted to a REIT.  Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or apital gains from their qualifying activities.

The Company aims to deliver capital growth and income enhancement from its assets, supporting a progressive dividend policy. Further information on the Company can be found at www.reiplc.barques.dev.