TR-1: Standard form for notification of major holdings

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”)


TR-1: STANDARD FORM FOR NOTIFICATION OF MAJOR HOLDINGS


1. Issuer Details

ISIN
GG00BFWMR296

Issuer Name
Industrials REIT Limited

UK or Non-UK Issuer
Non-UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name
Ameriprise Financial, Inc.

City of registered office (if applicable)
Minneapolis

Country of registered office (if applicable)
United States

4. Details of the shareholder

Name                         City of registered office   Country of registered office
Harewood Nominees

5. Date on which the threshold was crossed or reached
07-Mar-2022

6. Date on which Issuer notified
09-Mar-2022

7. Total positions of person(s) subject to the notification obligation

                                                       % of voting rights
                                  % of voting rights   through financial                               Total number of 
                                  attached to shares   instruments (total of   Total of both in        voting rights held
                 .                (total of 8.A)       8.B 1   8.B 2)          % (8.A   8.B)           in issuer

  Resulting situation
  on the date on
  which threshold                  9.457000             0.587000                 10.044000           29352804
  was crossed or
  reached

  Position of previous
  notification (if                 7.553000             0.000000                 7.553000
  applicable)

8. Notified details of the resulting situation on the date on which the threshold was
crossed or reached

8A. Voting rights attached to shares

Class/Type of shares       Number of direct
ISIN code (if              voting rights        Number of indirect          % of direct voting     % of indirect voting 
possible)                  (DTR5.1)             voting rights (DTR5.2.1)    rights (DTR5.1)        rights (DTR5.2.1)

GG00BFWMR296               0                    27637514                    0.000000               9.457000

Sub Total 8.A              27637514                                         9.457000%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

                                                            Number of voting rights that may be    % of 
Type of financial   Expiration    Exercise/conversion       acquired if the instrument is          voting
instrument          date          period                    exercised/converted                    rights

Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to
(DTR5.3.1R.(1) (b))

Type of
financial           Expiration    Exercise/conversion       Physical or cash     Number of voting   % of voting
instrument          date          period                    settlement           rights             rights

CFD                                                         Cash                 1715290            0.587000

Sub Total 8.B2                                                                   1715290            0.587000%

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial
instruments are effectively held starting with the ultimate controlling natural person or legal
entities (please add additional rows as necessary)

                                                                     % of voting rights
                                               % of voting rights    through financial
                                               if it equals or is    insturments if it      Total of both if it
                                               higher than the       equals or is higher    equals or is higher
Unltimate controlling    Name of controlled    notifiable            than the notifiable    than the notificable
person                   undertaking           threshold             threshold              threshold

  Ameriprise
  Financial, Inc.                              0.000000              0.000000                0.000000%
  
                         Columbia
                         Threadneedle
 Ameriprise
                         Investments UK        0.000000              0.000000                0.000000%
 Financial, Inc.
                         International
                         Limited

                         BMO Global
 Ameriprise              Asset
                                               0.000000              0.000000                0.000000%
 Financial, Inc.         Management
                         (Europe) Limited

                         BMO Asset
 Ameriprise
                         Management            0.000000              0.000000                0.000000%
 Financial, Inc.
                        (Holdings) Plc

 Ameriprise             BMO AM Capital
                                               0.000000              0.000000                0.000000%
 Financial, Inc.        (Group) Limited

                        BMO AM Capital
 Ameriprise
                        (Holdings)             0.000000              0.000000                0.000000%
 Financial, Inc.
                        Limited

 Ameriprise             BMO AM Capital
                                               0.000000              0.000000                0.000000%
 Financial, Inc.        (UK) Limited

 Ameriprise             Thames River
                                               9.457000              0.587000                10.044000%
 Financial, Inc.        Capital LLP

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held


11. Additional Information

Thames River Capital LLP is wholly owned by BMO AM Capital (UK) Limited, which is wholly
owned by BMO AM Capital (Holdings) Limited, which is wholly owned by BMO AM Capital
(Group) Limited, which is wholly owned by BMO Asset Management (Holdings) Plc, which is
wholly owned by BMO Global Asset Management (Europe) Limited, which is wholly owned by
Columbia Threadneedle Investments UK International Limited, which is wholly owned by
Ameriprise Financial, Inc.

12. Date of Completion

09-Mar-2022

13. Place Of Completion
Swindon, UK


10 March 2022

For further information:
Industrials REIT Limited                                                       44(0)20 3918 6600
Paul Arenson (paul.arenson@industrials.co.uk)
Julian Carey (julian.carey@industrials.co.uk)
James Beaumont
(james.beaumont@industrials.co.uk)

Numis Securities Limited (Financial Adviser)                                    44(0)20 7260 1000
Hugh Jonathan
Vicki Paine

FTI Consulting (PR Adviser)                                                     44(0)20 3727 1000
Richard Sunderland
Richard Gotla
Neel Bose
industrialsreit@fticonsulting.com

Java Capital                                                                     27 (0)11 722 3050
(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

Date: 10-03-2022 01:00:00
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