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                                                                       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: 16-03-2022 03:00:00
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