4 September 2023

Primary Health Properties PLC

("PHP" or the "Group")

Chief Executive Officer Appointment

Primary Health Properties, one of the UK's leading investors in modern primary healthcare facilities, is pleased to announce, after a thorough and extensive search process, the appointment of Mark Davies, ACA as Chief Executive Officer ("CEO") with effect from the conclusion of its Annual General Meeting to be held on 24 April 2024 ("2024 AGM").  He will succeed Harry Hyman, CEO and Founder of PHP who, as previously announced in December 2022, indicated his intention to step down as CEO at the time of PHP's 2024 AGM.

Mark Davies is a highly experienced FTSE250 Executive having held CEO and CFO roles in listed companies and private equity. He was a Co-founder Director of NewRiver REIT plc ("NewRiver") in 2009 and played an important role in taking the Company from IPO to the FTSE250 in seven years. He was CFO of NewRiver for over twelve years and, alongside his role as CFO, was also CEO/Executive Chairman of Hawthorn Leisure Limited ("Hawthorn") for five years. Mark stood down from the Board of NewRiver following the successful sale of Hawthorn in July 2021 to private equity at a premium price.

Mark has considerable capital markets experience and over the last fourteen years has raised over £3 billion of equity and debt in public and private markets.

Prior to co-founding NewRiver, Mark spent three years as an Executive Director and CFO at Omega Land, a private equity fund, with over £2 billion of London real estate owned by Morgan Stanley Real Estate Funds.

As part of the handover process Mark will work alongside Harry for a period of three months up to the 2024 AGM under the terms of a consultancy agreement.

Mark is currently the Senior Independent Director at Palace Capital PLC, a London-listed REIT

Steven Owen, Chairman, commented:

"On behalf of the Board, I am delighted that Mark will succeed Harry as CEO. Mark's track record, experience and knowledge of property and capital markets, as well as of operational businesses, will be of considerable benefit to the Company in the execution of its strategy over the medium term."

Harry Hyman, Chief Executive Officer, commented:

"I welcome the appointment of Mark Davies. His proven leadership skills will undoubtedly help steer PHP to even greater success.

I look forward to working with Mark and the rest of the team to ensure a seamless transition in 2024 and beyond, and to continuing to deliver our strategy of progressive dividend growth."

Mark Davies, proposed Chief Executive Officer, commented:

"PHP has a strong track record and is a market leader in healthcare property. I'm delighted at the opportunity to lead the business and it's an honour to succeed Harry as CEO.

There is a significant long term strategic opportunity to own, develop and modernise healthcare assets and PHP has a high quality portfolio which is well positioned to continue creating sustainable value from community health assets with a social purpose.  I look forward to working with the expert team at PHP, the Board, and all of our stakeholders."

There are no other matters that require disclosure under 9.6.13R of the UK Listing Rules.

More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk

Further details:

Legal Entity Identifier: 213800Y5CJHXOATK7X11