REDEMPTION OF £200 MILLION 5.50% NOTES DUE 2018

31 May 2017

Redemption of £200 million 5.50 per cent Notes due 2018 ("the notes")(ISIN: XS0221323693)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.

SEGRO (or "the Company") announces that it has today given notice to the holders of the Notes that it will fully redeem all of the Notes outstanding on 16 June 2017 in accordance with Condition 6.3 of the Notes. The Notes will be redeemed at their Redemption Amount of £210,364,000, together with accrued interest. This represents a premium of approximately £10 million above the nominal value of the Notes.

The redemption of the Notes forms part of a refinancing exercise currently being undertaken by SEGRO that is intended to extend SEGRO's debt maturity profile and reduce the overall cost of its debt. As part of this exercise, the Company is in advanced discussions with a number of US institutional investors in relation to a potential issue of private placement notes.

Following redemption, the Notes will be cancelled pursuant to Condition 6.7 of the Notes. Accordingly, the listing of the Notes on the Official List of the FCA and the admission of the Notes to trading on the Regulated Market of the London Stock Exchange plc will be cancelled on, or shortly after, 29 June 2017.

ENDS

For further information, please contact:

Harry Stokes (Head of Investor Relations and Research)

Tel: +44 (0) 20 7451 9124 / harry.stokes@segro.com

Notes to Editors:

ABOUT SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 6.4 million square metres (69 million square feet) of space valued at £8 billion, serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in nine other European countries.

See www.SEGRO.com for further information.