NewRiver REIT plc

("NewRiver" or the "Company")

       Scrip Dividend Reference Price

The Company announces that the scrip dividend reference price for the fully paid shares in the Company to be issued to shareholders who elect to receive the scrip dividend alternative for the interim dividend for the six months ended 30 September 2021 is 85.79 pence per ordinary share of one penny each. The interim dividend scrip alternative will be treated as a PID.

The scrip dividend reference price is calculated from the average of the closing middle market quotations for the Company's ordinary shares as taken from the London Stock Exchange Daily Official List for the five consecutive business days commencing on the ex-dividend date. The ex-dividend date was 9 December 2021.

To receive the dividend scrip alternative, shareholders need to make the election ahead of the dividend election date (the "Election Date") on 24 December 2021. Certificates in respect of the new ordinary shares will be despatched on the dividend payment date (14 January 2022).

Scrip Dividend Scheme

At the Annual General Meeting held on 14 August 2020, shareholders approved the renewal of the scrip dividend scheme. Shareholders can receive additional shares in the Company instead of their cash dividend, with no dealing charges or stamp duty incurred.

To elect to receive additional new ordinary shares of 1 penny each in the capital of the Company instead of a cash dividend, shareholders need to log onto www.signalshares.com and follow the instructions. For certificated shareholders, the election will apply to all future relevant dividends unless cancelled. For shareholders who hold their shares in CREST, an election will be required for each relevant dividend.

Shareholders should read the scrip dividend scheme booklet, which contains the terms and conditions applicable to the scrip dividend scheme, before deciding to make an election. A copy of the scrip dividend scheme booklet can be found on the "Scrip Dividend Scheme" web page within the "Investor Centre" section of the Company's website www.nrr.co.uk

If shareholders have any questions, please call Link Group on 0371 664 0321. Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. The helpline is open between 9.00 am - 5.30 pm, Monday to Friday excluding public holidays in England and Wales. Please note that Link Group cannot provide any financial, legal or tax advice and calls may be recorded and monitored for security and training purposes.

For further information

Kerin Williams (Company Secretary)