For release 20 August 2026

Schroder Real Estate Investment Trust Limited

FUND MANAGER APPOINTMENT

Schroder Real Estate Investment Trust Limited ('the Company', 'SREIT' or 'Schroder REIT') is pleased to announce the appointment of Peter Lowe as Fund Manager, replacing Nick Montgomery, subject to the completion of the consortium acquisition of Picton Property Income Limited ('Picton'). 

Peter is a Chartered Surveyor with 23 years' experience, including six years managing UK-listed real estate investment companies. He is currently Head of UK Real Estate Investment at Schroders Capital, the Company's Investment Manager, with responsibility for a pan-UK £2.5 billion diversified institutional mandate.

Given the strategic importance of the Picton acquisition, Nick will continue to support Peter for as long as is necessary to ensure a smooth transition. Thereafter Nick will retain oversight of SREIT in his capacity as Chair of Schroders Real Estate Investment Committee, with Peter also reporting to Nick as Global Head of Real Estate.

In this role, Peter will work closely with the Company's co-Fund Manager, Bradley Biggins, supported by Schroders deep bench of investment, asset management, operations and other specialist functions. 

Peter has an award-winning track record of delivering long term outperformance managing UK real estate portfolios. Prior to joining Schroders, at Columbia Threadneedle ('CT') Peter managed a c. £400 million, income-focussed, diversified REIT that delivered long-term outperformance against peers, whilst also launching new residential and alternative strategies.  Prior to CT, Peter was a fund manager at DTZ Investors, managing several large segregated real estate accounts for UK pension funds. 

This extensive real estate experience means Peter is ideally placed to manage the enlarged SREIT vehicle.

Peter Lowe of Schroders, commented: "This is an incredibly exciting opportunity to manage what will be, upon completion of the proposed Picton acquisition, a market leading, FTSE 250 sized, diversified REIT.  My focus will be to build on the team's strong track record of outperformance, capturing the significant opportunities that the transformational acquisition presents, whilst enhancing long term risk-adjusted returns to shareholders alongside continuing to materially grow our earnings."

Alastair Hughes, Chair of Schroder REIT, added: "Peter has a strong track record managing comparable strategies and brings deep real estate experience and a familiarity with the listed sector. We would like to thank Nick for his leadership of the Company and are pleased that shareholders will continue to benefit from his involvement, supporting Peter, Bradley, and the wider team in delivering the significant benefits arising from the Picton acquisition."

-ENDS-

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