RDI REIT PLC - Mike Watters to retire and step down as chief executive officer; Stephen Oakenfull appointed as his successor

Mike Watters to retire and step down as chief executive officer; Stephen Oakenfull appointed as his successor

RDI REIT P.L.C.
(“RDI” or the “Company”)
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745


MIKE WATTERS TO RETIRE AND STEP DOWN AS CHIEF EXECUTIVE OFFICER; STEPHEN OAKENFULL APPOINTED AS HIS SUCCESSOR


RDI REIT P.L.C. announces that Mike Watters will be retiring from RDI and stepping down as an Executive Director
and CEO during December 2020. Stephen Oakenfull who will succeed Mike Watters as Chief Executive, joins the Board
today.

Stephen joined RDI in May 2007 and has held the role of Deputy CEO since 2013. He has a broad range of experience
within real estate and capital markets and has previously held the role of Chief Operating Officer at RDI. Before joining
RDI, Stephen held roles with DTZ Corporate Finance and Turner & Townsend in real estate corporate finance and
management consulting roles respectively. Stephen is a CFA charterholder and holds a BSc (Hons) in Construction
Management.

As CEO, Stephen will retain his role as a member of the Investment Committee and will also replace Mike Watters on
the Sustainability and Social Responsibility Committee following his retirement in December 2020.
Gavin Tipper, Chairman, commented:
“I would like to take this opportunity to thank Mike, who founded the business in 2006, for his hard work and dedication
over the past 14 years. Mike leaves the business in good shape, with a streamlined, higher quality portfolio and a strong
balance sheet.”

“While there is work to be done in shaping the future trajectory of the portfolio, the Company is well positioned for
growth and Stephen Oakenfull, who has been instrumental in driving much of the recent transformation, is the right
person to deliver on the strategy to generate future value.”

Mike Watters, said:
“With substantial strategic progress having been achieved and the Company in good shape, I feel now is the right time
to step down and hand over the reins. I wish Stephen and RDI every success in taking the business forward.”

Stephen Oakenfull, added:
“We have achieved a great deal of progress over recent months despite the challenging backdrop. There is plenty more
to be done in delivering on the strategy and I am excited at the prospect of leading the business going forward.”

In accordance with 9.6.13 R (3) it is disclosed that Stephen was a director of the following RDI REIT P.L.C. subsidiaries:
Pearl House Swansea Limited, which was taken into creditors voluntary liquidation and dissolved in December 2019;
and of Wichford Carlisle Limited, Atholl no.1 Limited, Atholl no.2 Limited and Wichford Ladywell Limited, which
were taken into receivership following the decision by the servicer of the Gamma loan to appoint a receiver, as reported
by the Company on 15 January 2013.

No further details are required to be disclosed under the Listing Rule 9.6.13.
For further information:

RDI REIT P.L.C.
Mike Watters, Stephen Oakenfull                                    Tel: +44 (0) 20 7811 0100

FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey                                      Tel: +44 (0) 20 3727 1000
rdireit@fticonsulting.com

Instinctif Partners
SA Public Relations Adviser
Frederic Cornet                                                     Tel: +27 (0) 11 447 3030
RDI@instinctif.com

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

5 November 2020

Note to editors:

About RDI

RDI is an income focused UK-REIT with a diversified portfolio invested principally in the UK. The investment approach
is driven by an in depth understanding of occupational demand including the impact of technology, transport and
infrastructure investment. The portfolio has been repositioned in recent years to increase its weighting to London and
the South East and to provide greater exposure to our leading hotel and serviced office operating platforms.

RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic
objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an
industry leading and sustainable income return.

RDI is a UK Real Estate Investment Trust (UK-REIT) and holds a primary listing on the London Stock Exchange and
a secondary listing on the JSE. The Company is included within the EPRA, GPR, JSE All Property and JSE Tradeable
Property indices.

For more information on RDI, please refer to the Company's website www.rdireit.com

Date: 05-11-2020 09:10:00
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