NewRiver Regulatory News (NRR)

NewRiver Retail Ltd

("NewRiver" or the "Company")

Grant of Awards

NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment, active asset management and development, announces that on 28 September 2015 it granted awards under the NewRiver Retail Limited Performance Share Plan 2009, giving rights to acquire shares for nil consideration over a total of 773,072 ordinary shares of no par value ("Ordinary Shares") in the Company to Directors as detailed below.

The awards have been made over 200% of salary and are therefore subject to, and split between one-third each, the three enhanced performance conditions which are outlined below. The Company consulted with its largest shareholders in respect of these awards.

Total Shareholder Return ("TSR")

For shares allocated against the TSR performance, 25% vest if TSR is 9% on a compound annual basis with full vesting at 16% with straight-line vesting in between.

Adjusted EPRA Earnings Per Share ("EPS")

For shares allocated against the EPS performance, 25% vest if the compound annual percentage growth is 5% per annum with full vesting at 12% with straight-line vesting in between.

Net Asset Value plus Dividends ("NAV")

For shares allocated against the NAV performance, 25% vest if NAV increases by 9% on a compound annual percentage growth with full vesting at 16% with straight-line vesting in between.

Half of the award will be tested and be capable of vesting after three years and half will be tested and capable of vesting after four years.

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About NewRiver

NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail sector. At the close of 2014 NewRiver Retail was named Property Company of the Year - Retail & Leisure at the Estates Gazette Awards.

The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of £1 billion million principally comprising 29 UK wide shopping centres, further nationwide retail assets and a portfolio of 360 public houses with retail extension opportunities. The portfolio has 1,440 occupiers, a total of over 6.0 million sq. ft., total annual footfall of over 126 million and a retail occupancy rate of 96 per cent.

The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.

Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk