SWEF: Dividend Declaration

Starwood European Real Estate Finance Limited

Quarterly Dividend Declaration

Confirms 1.375 pence dividend for Q1 as targeted; equating to a 6.2% annualised dividend yield

This announcement contains price sensitive information.

Starwood European Real Estate Finance Limited (the “Company”) has declared a quarterly dividend in respect of the first quarter of 2023 of 1.375 pence per share as targeted, payable on 26 May 2023 to Shareholders on the register at 5 May 2023. The ex-dividend date will be 4 May 2023. The targeted full year dividend is 5.5 pence per share equating to an annualised dividend yield of 6.2% based on the closing share price on 20 April 2023.

For further information, please contact:

Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary

Duke Le Prevost

T: +44 (0) 203 5303 660

E: Starwood@apexfs.com

Notes:

Starwood European Real Estate Finance Limited is an investment company listed on the main market of the London Stock Exchange with an investment objective to conduct an orderly realisation of the assets of the Company. www.starwoodeuropeanfinance.com.

The Company is the largest London-listed vehicle to provide investors with pure play exposure to real estate lending.

The Group's assets are managed by Starwood European Finance Partners Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group.