11 October 2022

LEI: 213800I9IYIKKNRT3G50

abrdn European Logistics Income plc

Troels Andersen appointed lead Fund Manager

The Board of abrdn European Logistics Income plc (the "Company" or "ASLI") has been informed that Evert Castelein has resigned from abrdn and will therefore be stepping down as lead Fund Manager of the Company. Troels Andersen, who joined abrdn in April 2011 and is based in Copenhagen, Denmark, will assume the role with immediate effect. Evert will remain at abrdn until the end of the year, ensuring a comprehensive handover of his duties.

Since 2019 Troels has been Fund Manager of abrdn's multi-sector European Long Income Real Estate Fund, having successfully overseen its launch and which has a gross asset value of c. €150 million. Prior to this he was Fund Manager of abrdn's €500 million gross asset value Aberdeen Property Nordic I Fund, together with a further segregated value-add mandate. He was previously a member of abrdn´s Nordic and European Investment Committees, which approve all major decisions for investments in the region. Troels brings 25 years of real estate investment experience, including logistics asset transactions, together with knowledge of debt facility management, having spent the first part of his career working for German banks in both Germany and the UK.

Troels will be supported by existing team members Geoff Hepburn, Attila Molnar and Ross Hutchison, providing continuity in the management of the portfolio. The Company continues to benefit from abrdn's c. 100 strong specialist pan-European investment and asset management team, which plays an important role in the successful delivery of the Company's investment strategy.

Tony Roper, Chairman of abrdn European Logistics Income plc, commented:

"Evert has been with us since our IPO in December 2017 and has been a valued member of the wider abrdn European Real Estate team. The Board thanks him for his determined contribution and we wish him the very best in his future career.

"The Board looks forward to working with Troels and we remain confident in the outlook for the Company which is focused on the long-term European logistics growth story."

For further information please contact:

abrdn                                                                                    +44 (0) 20 7463 6000

Luke Mason

Gary Jones

Investec Bank plc                                                             +44 (0) 20 7597 4000

Denis Flanagan

David Yovichic

FTI Consulting                                                                   +44 (0) 20 3727 1000

Dido Laurimore

Richard Gotla

James McEwan