14 September 2022

Residential Secure Income plc
("ReSI plc" or the "Company")

Expansion of Revolving Credit Facility

Residential Secure Income plc (ReSI plc) (LSE: RESI), which invests in independent retirement living and shared ownership to deliver secure, inflation-linked returns, is pleased to announce that it has agreed a £15mn expansion of its £10mn revolving credit facility with Santander UK plc.

The expansion comes with an interest rate margin reduction of 55 basis points, from 2.80% to 2.25%, as well as a one-year extension of the facility termination date to March 2025.

The expanded £25.0mn facility capacity and reduced interest rate margin allow for more efficient management of the Company's working capital and provide lower-cost bridge financing for future investments.

Ben Fry, Managing Director of Housing at Gresham House, and Fund Manager of ReSI plc, said:

"This facility increases our flexibility and as such is a critical component of ReSI's growth plans. It gives us an attractive source of bridge financing as housing associations continue to seek to unlock capital for future development. We are pleased to continue our partnership with Santander in this way."

Jon Bowring, Head of Professional & Financial Services for Corporate & Commercial Banking, Santander UK, added:

"We are pleased to increase our support to ReSI plc structured in a way that supports ongoing portfolio growth and the needs of the business. This further demonstrates our commitment to the UK affordable housing sector and to growing our relationship with ReSI plc."

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About ReSI plc

Residential Secure Income plc ("ReSI plc" LSE: RESI) is a real estate investment trust (REIT) focused on delivering secure, inflation-linked returns with a focus on two resident sub-sectors in UK residential - independent retirement rentals and shared ownership - underpinned by an ageing demographic and untapped and strong demand for affordable home ownership.

ReSI plc targets a secure, long-dated, inflation-linked dividend of 5.16 p per share in FY 2022ⁱ (paid quarterly) and a total return in excess of 8.0% per annum. As at 30 June 2022, including committed acquisitions, ReSI plc's portfolio comprises 3,291 properties, with an (unaudited) IFRS fair value of £389mnⁱⁱ.

ReSI plc's purpose is to deliver affordable, high-quality, safe homes with great customer service and long-term stability of tenure for residents. We achieve this through meeting demand from housing developers, housing associations, local authorities, and private developers for long-term investment partners to accelerate the development of socially and economically beneficial affordable housing.

ReSI plc's subsidiary, ReSI Housing Limited, is registered as a for-profit Registered Provider of social housing, and so provides a unique proposition to its housing developer partners, being a long-term private sector landlord within the social housing regulatory environment. As a Registered Provider, ReSI Housing can acquire affordable housing subject to s106 planning restrictions and housing funded by government grant.

About Gresham House and Gresham House Real Estate

Gresham House is a London Stock Exchange quoted specialist alternative asset manager committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

Gresham House Real Estate has an unparalleled track record in the affordable housing sector over 20 years, with senior members having an average of c.30 years' experience.

Gresham House Real Estate offers long term equity investments into UK housing, through listed and unlisted housing investment vehicles, each focused on addressing different areas of the affordable housing problem. Each fund aims to deliver stable and secure inflation-linked returns whilst providing social and environmental benefits to its residents, the local community, and the wider economy.

Further information on ReSI plc is available at www.resi-reit.com, and further information on Gresham House is available at www.greshamhouse.com

Notes:

^i.        The dividend target and total return target are targets only and are not profit forecasts. There can be no assurance that either target will be met, and they should not be taken as an indication of the Company's future results.

^ii.       excluding the finance lease gross up and including £15mn of committed acquisitions.