Picton Prop Regulatory News (PCTN)

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Picton Property Income Limited

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Change in our Terms & Conditions restricting the exercise of Voting Rights to Discretionary client holdings

X

3. Full name of person(s) subject to thenotification obligation: iii

Investec Wealth & Investment Limited

4. Full name of shareholder(s)  (if different from 3.):iv

N/A

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

1st June 2015

6. Date on which issuer notified:

3rd June 2015

7. Threshold(s) that is/are crossed orreached: vi, vii

16%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

100,542,564

100,542,564

91,187,955

91,187,955

16.89%

GB00B0LCW208

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

91,187,955

16.89%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Discretionary client holdings registered in the name of Nominee companies 100% owned by Investec Wealth & Investment Limited.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Phil Beardwell Chartered FCSI

Senior Compliance Manager

15. Contact telephone number:

020 7597 1356