Company Update Schroder European Real Estate Investment Trust PLC (Incorporated in England and Wales) Registration number: 09382477 JSE Share Code: SCD LSE Ticker: SERE ISIN number: GB00BY7R8K77 21 July 2020 COMPANY UPDATE The board of Schroder European Real Estate Investment Trust plc (the ‘Company’) has been notified that Duncan Owen will be stepping down as the investment manager’s Global Head of Real Estate on 31 December 2020. Until that date, we are informed that Mr Owen will continue in that role and will also continue to chair the Real Estate Investment Committee. From 1 January 2021, Mr Owen will act as a special advisor to the investment manager. In this capacity, he is expected to work with the board and the investment manager’s existing team to help drive the Company’s strategy and assist in maintaining continuity, including attending board meetings as necessary. The Company’s investment strategy and asset management objectives remain unchanged. The board will continue to monitor the situation. Enquiries: Duncan Owen/Jeff O’Dwyer Schroder Real Estate Investment Management Limited Tel: 020 7658 6000 Ria Vavakis Schroder Investment Management Limited Tel: 020 7658 2371 Dido Laurimore Tel: 020 3727 1000 FTI Consulting JSE Sponsor PSG Capital Date: 21-07-2020 01:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.