Board Changes

19 September 2023

AEW UK REIT plc

("AEWU" or the "Company")

Board Changes

Appointment of Non-Executive Directors/Audit Committee Chairman

The Board of AEWU is pleased to announce the appointments of Mr Robin Archibald and Mrs Liz Peace as independent Non-Executive Directors ("NEDs") of the Company with effect from 1 October 2023. As part of an orderly succession planning, Robin will be appointed as Chairman of the Board upon Mr Mark Burton's retirement at the 2024 AGM.

Robin was formerly Head of Corporate Finance and Broking at Winterflood Investment Trusts until April 2014 when he retired from his executive roles.  He qualified as a Chartered Accountant in 1983 and subsequently worked as a Corporate Financier with Samuel Montagu, SG Warburg Securities, NatWest Wood Mackenzie and as partner in corporate finance with a Scottish accounting firm and its successor corporate finance boutique.  

Robin has concentrated for much of his career on advising and managing transactions in the UK closed-ended funds sector. He was Chairman of Albion Technology Venture Capital Trust and a former Audit Chairman and Senior Independent Director of Ediston Property Investment Trust, roles he retired from in the first half of 2023. Robin is currently Audit Chairman and Senior Independent Director of Capital Gearing Trust, Shires Income Trust and Henderson European Focus Trust.

Liz has worked in both the public and private sectors. She spent her early career in Government in the Ministry of Defence, eventually becoming a key player in the creation of QinetiQ plc in 2001. She then moved into the private sector, becoming Chief Executive of the British Property Federation where she played a significant role in the creation of the UK's Real Estate Investment Trust (REIT) structure. She was awarded a CBE in 2008 for services to the property industry.

Liz now has a non-executive portfolio career primarily focused on real estate including NED roles at Howard de Walden Estates, Greencore Homes and the Connected Places Catapult. She is Chair of the GLA's Old Oak and Park Royal Development Corporation and of the University of Cambridge Property Board. She is also Chair of the Churches Conservation Trust, a secular organisation looking after 358 redundant Church of England churches, and of Real Estate Balance, a campaigning organisation working to improve diversity and inclusion in the real estate industry.

Mrs Peace was previously a Director of RPS Group plc, RDI REIT plc, Morgan Sindall Group plc and Redrow plc.

Audit Committee Chairman

Mr Sandhu will retire from the Board and as Audit Committee Chairman on 30 September 2023 having reached near the end of his nine-year tenure as Director. As first announced on 10 November 2022, Mr Kirkland was appointed as Chairman designate of the Audit Committee and, as part of an orderly succession planning, will succeed Mr Sandhu as Audit Committee Chairman on the same date.

Mark Burton, Chairman of the Company, commented on the appointments and retirement:

"I am delighted that Robin and Liz are joining the Board and I am confident that their experience and range of skills will complement and further strengthen the existing Board for many years to come. Both of their extensive knowledge and experience in investment companies will be of great benefit to us. I look forward to working closely with Robin to ensure a smooth handover until he succeeds me as Chairman in September 2024.

On behalf of the Board, I thank Mr Sandhu for his invaluable contribution over his tenure and wish him well for his future endeavours."

There are no further items requiring disclosure under Listing Rule 9.6.13 regarding Mr Robin Archibald's and Mrs Liz Peace's appointment.

For further information, please contact:

Link Company Matters Limited

Company Secretary

Telephone - 07548 773 155

LEI: 21380073LDXHV2LP5K50