23 March 2021

Yew Grove REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

LTIP Option Awards / PDMR Notification

The Board of Yew Grove REIT plc (LSE: YEW, Euronext: YEW) (the "Board") announces that on 23 March 2021, the Company granted Jonathan Laredo, the Company's Chief Executive Officer, Charles Peach, the Company's Chief Financial Officer, and Michael Gibbons, the Company's Chief Investment Officer, (together the "Executive Directors") options at 1 cent per share over a total of 271,739 ordinary shares of €0.01 each in the Company ("Ordinary Shares") pursuant to the Company Long Term Incentive Plan (the "LTIP") for the 2021 financial year.

This is the third grant under the Company LTIP scheme since its Admission to trading on the London and Irish Stock Exchanges. The grant is equally divided between each of the Executive Directors so that each one of the Executive Directors is entitled to 271,739 Ordinary Shares subject to the satisfaction of the performance conditions described below.

The LTIP is subject to two performance conditions. Half of the grant relates to Yew Grove's total return (defined as the annualised share price assuming the reinvestment of dividends) measured against a comparator group of 12 other REITs. 30% of the award vests on that half of the grant if Yew Grove's total return is at the median of the comparator group and 100% of the award vests if Yew Grove's total return is at or above the upper quartile of the comparator group. The remaining half of the grant is measured by reference to the Company's total property return over the performance period. At 6% per annum total property return 30% of awards vest on the remaining half of the grant, at 10.5% total property return per annum 100% of awards vest. In each case the vesting amount increases on a straight line basis between 30% and 100%. The performance period for both performance conditions is the three years to 31 December 2023.

The total number of Ordinary Shares over which options were granted on 23 March 2021 represents approximately 0.73 per cent. of the Company's issued share capital.

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MAR information

This announcement is released by Yew Grove REIT plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Forward-looking Statements

Certain information contained in this announcement may constitute forward looking information. This information relates to future events or occurrences or the Company's future performance. All information other than information of historical fact is forward looking information. The use of any of the words "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", "predict" and "potential" and similar expressions are intended to identify forward looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that this information will prove to be correct and such forward looking information included in this announcement should not be relied upon. Forward-looking information speaks only as of the date of this announcement. The forward-looking information included in this announcement is expressly qualified by this cautionary statement and is made as of the date of this announcement. The Company and its group does not undertake any obligation to publicly update or revise any forward-looking information except as required by applicable securities laws.

Notes to editors

Yew Grove REIT plc, quoted on the London Stock Exchange's AIM market and on the Euronext Growth Market in Dublin, is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property. Yew Grove has a particular focus on well-tenanted commercial real estate assets comprising of office and industrial assets outside of Dublin's Central Business District.

Yew Grove's highly experienced team has a proven track record in commercial property investment and asset management in Ireland and internationally and is focused on delivering results. Its investment approach is strategic, not speculative, principally on assets that are let, pre-let or to be let after refurbishment. Shareholders are provided with stable, long-term income from a diverse portfolio of commercial property comprising well-tenanted real estate in strategic centres let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates.

APPENDIX I

Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them

 This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)