9 June 2022

Target Healthcare REIT plc and its subsidiaries

("Target Healthcare" or "the Group")

Inclusion in FTSE 250 Index

Target Healthcare (LSE: THRL), the UK listed specialist investor in modern, purpose-built care homes, is pleased to announce that FTSE Russell has confirmed that the Company will be added as a constituent of the FTSE 250 Index with effect from 20 June 2022, having satisfied the eligibility criteria during the Index's recent Quarterly Review.

Enquires:

Kenneth MacKenzie; Gordon Bland

Target Fund Managers Limited

01786 845 912

Mark Young; Mark Bloomfield

Stifel Nicolaus Europe Limited

020 7710 7600

Dido Laurimore; Richard Gotla

FTI Consulting

020 3727 1000

TargetHealthcare@fticonsulting.com

Notes:

UK listed Target Healthcare REIT plc (THRL) is an externally managed Real Estate Investment Trust which provides shareholders with an attractive level of income, together with the potential for capital and income growth, from investing in a diversified portfolio of modern, purpose-built care homes.

The Group's portfolio at 31 March 2022 comprised 99 assets let to 33 tenants with a total value of £886.8 million.

The Group invests in modern, purpose-built care homes that are let to high quality tenants who demonstrate strong operational capabilities and a strong care ethos. The Group builds collaborative, supportive relationships with each of its tenants as it believes working in this way helps raise standards of care and helps its tenants build sustainable businesses. In turn, that helps the Group deliver stable returns to its investors.

LEI: 213800RXPY9WULUSBC04