Notification and public disclosure of transactions by directors and persons closely associated with directors

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")

1 August 2022


Notification and public disclosure of transactions by directors and persons closely associated with directors in
accordance with the Market Abuse Regulations.


Industrials REIT shareholders are referred to previous announcements in respect of the offer to receive
the final dividend of 3.475 pence per share for the six months ended 31 March 2022 either as a cash
dividend or a scrip dividend by way of an issue of new Industrials REIT shares (the "Scrip Dividend").
Shareholders are advised of the following information relating to dealings in securities by a director and
associates of directors. Clearance to deal was granted in respect of all Scrip Dividend elections.

This announcement is made in accordance with Article 19 of the UK Market Abuse Regulation.

1    Details of the person discharging managerial responsibilities / person closely associated

a)   Name                               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    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          Election to receive shares pursuant to the Scrip Dividend as an off -
                                        market transaction.

c)   Price(s) and volume(s)
                                        Price(s)                   Volume(s)
                                        £1.47775                   9,053
d)   Aggregated information

     - Aggregated volume                9,053

     - Price                            £13,378.07

e)   Date of the transaction            2022-07-29

f)   Place of the transaction           off-market transaction


1    Details of the person discharging managerial responsibilities / person closely associated

a)   Name                               Lonat Limited

2    Reason for the notification

a)   Position/status                    Paul Arenson, Chief Executive Officer of Industrials REIT Limited, is a
                                        discretionary beneficiary of the Lonat Trust, which has a beneficial
                                        interest in Lonat Limited

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    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          Election to receive shares pursuant to the Scrip Dividend as an off -
                                        market transaction.
c)   Price(s) and volume(s)
                                        Price(s)                   Volume(s)
                                        £1.47775                   239,940

d)   Aggregated information

     - Aggregated volume                239,940

     - Price                            £354,571.34

e)   Date of the transaction            2022-07-29

f)   Place of the transaction           off-market transaction

1    Details of the person discharging managerial responsibilities / person closely associated

a)   Name                               Wetherby Holdings Limited

2    Reason for the notification

a)   Position/status                    Paul Arenson, Chief Executive Officer of Industrials REIT Limited, is a
                                        discretionary beneficiary of the Saruga Trust, which has a beneficial
                                        interest in Wetherby Holdings Limited
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    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          Election to receive shares pursuant to the Scrip Dividend as an off -
                                        market transaction.
c)   Price(s) and volume(s)
                                        Price(s)                   Volume(s)
                                        £1.47775                   38,322

d)   Aggregated information

     - Aggregated volume                38,322

     - Price                            £56,630.34

e)   Date of the transaction            2022-07-29

f)   Place of the transaction           off-market transaction


1    Details of the person discharging managerial responsibilities / person closely associated

a)   Name                               Saruga Investments Limited

2    Reason for the notification

a)   Position/status                    Paul Arenson, Chief Executive Officer of Industrials REIT Limited, is the
                                        sole director of Saruga Investments Limited

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    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          Election to receive shares pursuant to the Scrip Dividend as an off-
                                        market transaction.
c)   Price(s) and volume(s)
                                        Price(s)                   Volume(s)
                                        £1.47775                   19,171

d)   Aggregated information

     - Aggregated volume                19,171

     - Price                            £28,329.95

e)   Date of the transaction            2022-07-29

f)   Place of the transaction           off-market transaction


1    Details of the person discharging managerial responsibilities / person closely associated

a)   Name                               The Swallow Trust

2    Reason for the notification

a)   Position/status                    Patsy Watson, Non-Executive Director of Industrials REIT Limited, is a
                                        discretionary beneficiary of the Swallow Trust
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    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          Election to receive shares pursuant to the Scrip Dividend as an off-
                                        market transaction.

c)   Price(s) and volume(s)
                                        Price(s)                   Volume(s)
                                        £1.47775                   13,250

d)   Aggregated information

     - Aggregated volume                13,250

     - Price                            £19,580.19

e)   Date of the transaction            2022-07-29

f)   Place of the transaction           off-market transaction


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 with a primary listing on the London Stock Exchange and a secondary listing on the
JSE. The objective of the Company is to deliver a combination of sustainable growing income and growth in value
to its investors. Industrials REIT focuses on owning and operating a diversified portfolio of UK purpose built multi-
let industrial (MLI) estates across the UK. The Company aspires to be the leading MLI business in the UK. For
further information, go to www.industrialsreit.com.

Date: 01-08-2022 12:00:00
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