Director/PDMR Shareholding

21 December 2016

NewRiver REIT plc

("NewRiver" or the "Company")

Notification of transactions by persons discharging managerial responsibilities and persons closely associated

The Company has been notified that Mark Davies, Chief Financial Officer, has exercised 339,693 share options which were granted under the NewRiver Retail Limited Unapproved Share Option Plan 2009. In order to cover the cost of the exercise of the options and the associated tax liability 289,400 shares were sold. Mark Davies has retained the balance of shares, giving him a total shareholding of 124,838 ordinary shares, with a market value in excess of 1x his base salary, as per the Company's shareholding policy.