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3 November 2022

LEI: 213800RG7JNX7K8F7525

Life Science REIT plc

("Life Science REIT" or the "Company")

Notification of proposed admission to the premium segment of the Main Market and cancellation of trading on AIM

Life Science REIT (AIM: LABS), the real estate investment trust focused on UK life science properties, announces that, in accordance with the intention expressed at the time of the Company's initial public offering on AIM, the board has determined to apply for the Company's existing ordinary shares (the "Ordinary Shares") to be admitted to listing on the premium listing segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the premium segment of the main market of London Stock Exchange plc (the "Main Market") (together "Admission"). The Company's admission to trading on AIM will be cancelled with effect from Admission.

The directors believe that Admission is in the best interests of the Company and its shareholders as a whole for the following reasons:

•     the Company will have access to a potentially larger pool of capital which may improve the liquidity of the Ordinary Shares on the secondary market;

•     the premium listing is expected to broaden the appeal of the Company to a wider range of investors;

•     a premium listing may enhance the Company's corporate profile and recognition with increased media coverage and investor interest; and

•     the Company will be required to comply with higher standards of governance required by premium listed companies under the FCA's Listing Rules and related regulations and guidance.

In addition, the migration to the premium segment will enable the Board to take steps to seek that the Company be considered for eligibility for inclusion in a broader range of equity indices including the FTSE's EPRA and UK Index Series which may further facilitate increased liquidity of the Ordinary Shares.

Admission is subject to the approval by the FCA of a prospectus in connection with Admission (the "Prospectus"). The Company confirms that preparations in respect of Admission are well progressed and therefore the Company hereby gives notice of the intended cancellation of trading of its Ordinary Shares on AIM in accordance with Rule 41 of the AIM Rules for Companies. It is expected that the Company will publish the Prospectus in mid-November 2022 and it is expected that Admission will occur, and the Company's admission to trading on AIM will be cancelled by early December 2022.  

Admission is not expected to be conditional upon any shareholder approval and an Admission timetable will be published in due course.

Jefferies International Limited and Panmure Gordon (UK) Limited are acting as joint sponsors in connection with Admission.

Claire Boyle, Chair of the Company commented:

"We are pleased to propose this important milestone for the Company outlined at the time of our IPO completed in November 2021. Comfortably within the twelve months since that date, the Company has secured a substantial and diverse portfolio of quality life science properties in Oxford, Cambridge and London which the Board believe has significant growth potential. We look forward to joining the main market with the anticipated benefits of a potentially larger pool of capital to further improve liquidity, enhance the Company profile and consideration for eligibility to be included in a broader range of equity indices."

FOR FURTHER INFORMATION, PLEASE CONTACT:

Notes to editors

Life Science REIT plc is a property business focused solely on the UK's growing life science sector, specifically targeting opportunities in the "Golden Triangle" research and development hubs of Oxford, Cambridge and London St Pancras. The Company's intention is to become the property provider of choice for life science companies in the UK, whilst enabling shareholders to gain exposure to a specific growth sector. 

The objective of the Company's investment policy is focused on capital growth, whilst also providing a growing level of income, by investing primarily in a diversified portfolio of properties that are leased, or intended to be leased, to occupiers operating in the life science sector in the UK. 

Life Science REIT joined the AIM market of the London Stock Exchange on 19 November 2021, having raised £350 million in its IPO. Its shares trade under the ticker LABS.

Further information is available at https://lifesciencereit.co.uk

IMPORTANT NOTICE

This announcement does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, shares in the Company in any jurisdiction. The distribution of this announcement outside the United Kingdom may be restricted by law. No action has been taken by the Company that would permit possession of this announcement in any jurisdiction outside the UK where action for that purpose is required. Persons outside the United Kingdom who come into possession of this announcement should inform themselves about the distribution of this announcement in their particular jurisdiction. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction.

Jefferies International Limited ("Jefferies") and Panmure Gordon (UK) Limited ("Panmure Gordon"), each of which is authorised and regulated in the United Kingdom by the Financial Conduct Authority and is a member of the London Stock Exchange, are acting exclusively for the Company and for no one else in relation to Admission. Neither Jefferies nor Panmure Gordon will regard any other person as its client in relation to the subject matter of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing any advice in relation to Admission, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

The responsibilities of Jefferies and/or Panmure Gordon as the Company's joint sponsors are owed solely to the FCA. Apart from the responsibilities and liabilities, if any, which may be imposed on Jefferies and/or Panmure Gordon by FSMA or the regulatory regime established thereunder, or under the regulatory regime of any other jurisdiction where exclusion of liability under the relevant regulatory regime would be illegal, void or unenforceable, neither Jefferies nor Panmure Gordon nor any person affiliated with either of them makes any representation or warranty, express or implied, in relation to, nor accepts any responsibility whatsoever for, the contents of this announcement including its accuracy, completeness or verification, or for any other statement made or purported to be made by it or on its behalf or on behalf of the Company or by any other person in connection with the Company, Admission or any transaction or arrangement referred to in this announcement. Each of Jefferies and Panmure Gordon (together with their respective affiliates) accordingly, to the fullest extent permissible by law, disclaims all and any responsibility or liability, whether arising in tort, contract or otherwise which it might otherwise have in respect of this announcement or any other statement made or purported to be made by it or on its behalf or by any other person in connection with the Company, Admission or any transaction or arrangement referred to in this announcement.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "might", "will" or "should" or, in each case, their negative or other variations or similar expressions. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, strategy, plans, proposed acquisitions and objectives, are forward-looking statements.