23 April 2026

Ground Rents Income Fund plc

("GRIO" or the "Company")

Non-executive director appointments

Ground Rents Income Fund plc announces the appointments of Mike Holt and Sarah Booth as Independent Non-Executive Directors of the Company, with effect from 22 April 2026.

These appointments follow the announcement on 11 December 2025 that Katherine Innes Ker and Bill Holland will step down from the Board, currently expected during May 2026. Upon his appointment, Mike will assume the role of Audit and Risk Committee Chair, replacing Bill who will continue to act as a non-executive director until he steps down from the Board. 

As part of the appointment process, the base fees for director remuneration were revised downwards. Following the departures of Katherine and Bill, costs (excluding any taxable disbursements and employers NI) for the incumbent members of the Board will reduce to £120,000 per annum (compared to £181,625 for the financial year ending 30 September 2025). Any additional Board remuneration will be subject to shareholder approval and linked to any return of capital to shareholders, ensuring alignment with stakeholders and the Manager.

Mike Holt

Mike is an experienced executive and non-executive plc director with broad industrial sector expertise and knowledge, including real estate management and services. His executive roles included Finance Director of Global Procurement within Rolls-Royce Plc, Group Finance Director of Vp plc and Chief Financial Officer of Low & Bonar plc, two main market listed companies, and Executive Chair of Real Good Food plc, which was an AIM listed company. Mike was a non-executive director, and Chair of the Audit and Risk Committee, of Schroders Asian Total Return Investment Company plc for nine years between 2014 and 2023.

Sarah Booth

Sarah is a corporate and commercial lawyer having spent her career working in roles in a range of multi-national industries.  She has experience in mergers and acquisitions, commercial real estate, capital markets and support services, and latterly was General Counsel and Company Secretary at Hammerson plc. She is presently Chair of Trustees at The Army Benevolent Fund. 

Mike and Sarah will stand for election at the Company's next Annual General Meeting to be held in 2027.

Enquiries:

Schroder Real Estate Investment Management Limited

Chris Leek

020 7658 6000

Singer Capital Markets (Financial Adviser & Broker)

James Maxwell / Sam Butcher (Investment Banking)

Sam Greatrex (Sales)

020 7496 3000

Appleby Securities (Channel Islands) Limited (Sponsor)

Andrew Weaver / Michael Davies

01534 888 777

FTI Consulting

Richard Gotla / Oliver Parsons

0203 727 1000

JTC (UK) Limited (Company Secretary)

Ruth Wright

+44 207 409 0181