London Stock Exchange Announcement

TR Property Investment Trust plc

(the 'Company')

Board Changes

LEI: 549300BPGCCN3ETPQD32

Information disclosed in accordance with Listing Rule 9.6.11(1)

Director Appointment

The Board of TR Property Investment Trust plc (the 'Board') is pleased to announce that Busola Sodeinde has joined the Board as an independent Non-Executive Director with effect from 24 January 2023.

Busola is a Chartered Management Accountant who has spent most of her executive career in Financial Services. She is currently a non-executive director of Hargreave Hale AIM VCT PLC, Ombudsman Services, a board member of the Church Commissioners for England, where she sits on the Audit & Risk Committee, and a Trustee of The Scouts Association. Until 2019 she was a Managing Director/Chief Financial Officer at State Street Global Markets EMEA, prior to which she was Finance Director to the Corporate Finance team of Deutsche Bank Capital Markets.

Busola is the founder of a digital publishing firm focused on literacy and is also a supporter of women-led ventures.

Ms Sodeinde does not own any ordinary shares in the Company.

No further information is required to be disclosed under Listing Rule 9.6.13 in respect of this appointment.

Board Succession

The Board also announces that David Watson will step down from the Board with effect from the conclusion of the Company's Annual General Meeting ('AGM') to be held on 20 July 2023, having served for eleven years as a Director, the last three as Chairman.

David will be succeeded as Chairman by Kate Bolsover and Tim Gillbanks will succeed Kate as Senior Independent Director, also with effect from the conclusion of the forthcoming AGM.

24 January 2023

Enquiries to:

Jonathan Latter

Columbia Threadneedle Investment Business Limited

Company Secretary

Telephone No: 020 3530 6283