19 June 2025

SUPERMARKET INCOME REIT PLC  

(the "Company")  
  

Establishment of Long Term Incentive Plan and grant of 2025 LTIP awards

Notification and public disclosure of transactions by PDMRs

Supermarket Income REIT plc (LSE: SUPR), announces the establishment of its Long Term Incentive Plan (the "LTIP"), following consultation with a number of its largest shareholders and as outlined in the Directors' Remuneration Policy in the circular published on 4 March 2025 in relation to the internalisation of the Company's management function (the "Internalisation"). The Board recognises the importance of equity incentive schemes as a means to incentivise the Executive Directors, ensuring alignment with the objectives of the Company and its shareholders.

The Company announces that it has granted awards in the form of nominal cost options ("LTIP Awards") over ordinary shares of the Company of £0.01 each ("Shares") pursuant to the LTIP, on 17 June 2025 to the Executive Directors listed below:

The exercise price for each LTIP Award is £0.01 per Share, being the nominal cost of a Share. Vesting of the LTIP Awards is subject to continued service and satisfaction of performance conditions relating to the following metrics:

(i)            Relative Total Shareholder Return ("TSR") measured against the constituents of the FTSE 350 Real Estate sector excluding agencies (50% weighting). 25% of this part of an award will vest for median TSR, increasing pro-rata to 100% of this part of an award vesting for upper quartile TSR as measured from completion of the Internalisation to the publication of the 2028 financial year results;

(ii)           Adjusted earnings per share ("EPS") performance for the 2028 financial year (25% weighting). 25% of this part of an award will vest for the 2028 financial year EPS of 6.3p increasing pro-rata to 100% of this part of an award vesting for the 2028 financial year EPS of 7.0p; and

(iii)          Total accounting return ("TAR") during the 2026, 2027 and 2028 financial years (25% weighting). 25% of this part of an award will vest for TAR of 5% p.a. increasing pro-rata to 100% of this part of an award vesting for TAR of 10% p.a..

In addition to the performance conditions outlined above, the Remuneration Committee will retain discretion to adjust any formulaic outcome for the LTIP Awards if it considers it necessary to take account of its broader assessment of Company or executive performance and the stakeholder experience more generally over the vesting period.

The vesting date of the 2025 LTIP Awards will be the date of publication of results for the 2028 financial year.

A holding period of two years from the date of vesting applies to the LTIP Awards granted to the Executive Directors (and any Shares resulting from the LTIP Awards).

The following notifications are made in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

NOTES TO EDITORS:  

Supermarket Income REIT plc (LSE: SUPR, JSE: SRI) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the feed the nation infrastructure. The Company focuses on grocery stores which are omnichannel, fulfilling online and in-person sales. The Company's supermarkets are let to leading supermarket operators in the UK and Europe, diversified by both tenant and geography.  

The Company's assets earn long-dated, secure, inflation-linked, growing income. The Company targets a progressive dividend and the potential for capital appreciation over the longer term.

The Company is listed on the closed-ended investment funds category of the FCA's Official List and its Ordinary Shares are traded on the LSE's Main Market. The Company also has a secondary listing on the Main Board of the JSE Limited in South Africa. 

Further information is available on the Company's website www.supermarketincomereit.com  

LEI: 2138007FOINJKAM7L537  

Stifel Nicolaus Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Supermarket Income REIT plc and no one else in connection with this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Stifel Nicolaus Europe Limited nor for providing advice in connection with the matters referred to in this announcement.

Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting exclusively for Supermarket Income REIT plc and no one else in connection with this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Goldman Sachs International nor for providing advice in connection with the matters referred to in this announcement.