REDEFINE INTERNATIONAL PLC - Redefine International leases 22,000 sq ft Derby unit to TK Maxx

Redefine International leases 22,000 sq ft Derby unit to TK Maxx

REDEFINE INTERNATIONAL P.L.C.
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
(“Redefine International” or “the Company”)


REDEFINE INTERNATIONAL LEASES 22,000 SQ FT DERBY UNIT TO TK MAXX


Redefine International, the FTSE 250 income-focused UK REIT, announces that it has signed a 15- year
lease with TK Maxx for a new 22,000 sq ft store at Albion Street in Derby.

The Company will commence a redevelopment of 9-11 Albion Street in late spring 2017 to combine the
basement, ground, first and second floors of the three existing units into a single, modern space to
accommodate TK Maxx. The new store is scheduled to open by late 2018, once internal fittings have been
installed, creating 35 new jobs and improving the retail pitch for the city. The agreed rent of £0.2 million is
50 per cent. ahead of the February 2017 ERV. Capital expenditure to reconfigure the space is anticipated to
be £2.2 million.

Redefine International owns 10 adjoining retail units on Albion Street, which is a key artery in Derby’s main
retail centre linking the city’s Intu shopping centre to Primark and the historic Old Town. The area is the
subject of major redesign and refurbishment plans by Derby City Council, which will transform the area into
a family-focused shopping destination.

Adrian Horsburgh, Property Director at Redefine International, commented: “We acquired our units
on Albion Street as part of the AUK transaction last year and it is a site that we identified as having
significant asset management potential in a high footfall location in Derby city centre, which is the target of
significant investment by the local authority. This letting to TK Maxx, a high-profile brand with a strong
covenant, is in line with our strategy to target income-led asset management opportunities as we continue
with our objective of becoming the UK’s leading income-focused REIT.”

For further information:
Redefine International P.L.C.
Mike Watters, Stephen Oakenfull                               Tel: +44 (0) 20 7811 0100

FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Sweeney                  Tel: +44 (0) 20 3727 1000

Instinctif Partners
SA Public Relations Adviser
Frederic Cornet, Lizelle du Toit                              Tel: +27 (0) 11 447 3030

Java Capital
JSE Sponsor                                                   Tel: +27 (0) 11 722 3050

12 May 2017

Note to editors:

About Redefine International

Redefine International is an income focused FTSE 250 UK Real Estate Investment Trust (UK-REIT)
committed to delivering superior distributions to its shareholders throughout the property cycle.

The Company’s income driven total returns are underpinned by a diversified portfolio, together with an
efficient capital structure. The continued transformation of both the corporate structure and asset base offer a
solid foundation to drive further value. At 28 February 2017, the diversified portfolio, independently valued
at £1.5 billion, is focused in Europe's two strongest economies, being the United Kingdom and Germany.
The portfolio is weighted towards well located properties across a range of sectors, including retail, offices,
distribution and hotels, which benefit from strong demand and from which they can capture income and
value growth by attracting high calibre occupiers on long leases. The Company’s investment philosophy is
to effectively allocate recycled capital from mature assets into sectors and locations with strong occupier
fundamentals and individual assets with realisable upside.

The secure income stream is supported by a diversified portfolio and tenant base, with a WAULT of 7.5
years complemented by an average debt maturity of 6.8 years of which over 95% of interest costs are either
fixed or capped. The Company is focused on all aspects impacting shareholder distributions and boasts one
of the lowest cost ratios in the industry whilst continuously driving lower cost of debt.

Redefine International holds a primary listing on the London Stock Exchange and a secondary listing on the
Johannesburg Stock Exchange and is included within the FTSE 250, EPRA and GPR indices.

For more information on Redefine International, please refer to the Company’s website
www.redefineinternational.com.

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