Fixed Interest Switch

Real Estate Investors Plc

("REI" or the "Company")

Fixed Interest Switch

Real Estate Investors Plc (AIM: RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of 1.59 million sq ft of investment property across all sectors, is pleased to announce that it has taken the opportunity to switch part of its NatWest facility to a fixed interest rate.  The Company repaid £2 million of the facility in March 2021 and has now fixed £35 million of the £49 million facility at a rate of 2.6% per annum, with effect from 1 January 2022 until 1 March 2024.  The facility with NatWest is secured against a portfolio of REI's properties.

Following the fixing of this proportion of debt, the Company's fixed debt ratio will increase to 82%, with an average cost of debt of 3.5% with effect from 1 January 2022.

Marcus Daly, Finance Director, commented: "We have taken advantage of the low interest rate environment to fix £35 million of our NatWest facility to hedge against future expected interest rate rises and preserve our low average cost of debt."

Certain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

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About Real Estate Investors Plc

Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.59 million sq ft of mixed-use commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.  The Company's strategy is to invest in well located, real estate assets in the established and proven markets across the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings.  The portfolio has no material reliance on a single asset or occupier.  On 1st January 2015, the Company converted to a REIT.  Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.  The Company aims to deliver capital growth and income enhancement from its assets, supporting its progressive dividend policy.  Further information on the Company can be found at www.reiplc.com.