Notice Of Dividend Currency Exchange Rate (Sterling) 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 13 January 2020 NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE (STERLING) On 9 December 2019, Schroder European Real Estate Investment Trust plc (the “Company”) announced its fourth interim dividend for the year ended 30 September 2019 of 1.85 euro cents per share. Shareholders on the UK register will receive their dividends in sterling, unless an election is completed and registered with the Company's registrars. The deadline for the currency election in respect of the forthcoming interim dividend payment was 10 January 2020. This announcement confirms that the currency exchange rate applicable for the interim dividend for shareholders on the UK register who did not make a currency election before the applicable deadline and who therefore will receive their dividend in sterling is: Declared dividend Exchange rate Dividend to be paid for those receiving dividends in sterling 1.85 euro cents per share 0.85770 1.58675 pence per share The dividend will be paid on 27 January 2020 to shareholders who were on the register at the close of business on 10 January 2020. 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: 13-01-2020 04:45:00 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.