SWEF: Dividend Declaration

Date: 22 April 2022

Starwood European Real Estate Finance Limited

Quarterly Dividend Declaration

Confirms 1.375 pence dividend for Q1 as targeted; equating to an 5.9% 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 2022 of 1.375 pence per share as targeted, payable on 27 May 2022 to Shareholders on the register at 6 May 2022. The ex-dividend date will be 5 May 2022. The targeted full year dividend is 5.5 pence per share equating to an annualised dividend yield of 5.9% based on the closing share price on 21 April 2022.

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 provide Shareholders with regular dividends and an attractive total return while limiting downside risk, through the origination, execution, acquisition and servicing of a diversified portfolio of real estate debt investments in the UK and the wider European Union's internal market.  www.starwoodeuropeanfinance.com.

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