Yew Grove REIT plc

(the "Company" or "Yew Grove")

Main Market Listing Update

26 April 2021 - Yew Grove REIT plc (LSE:YEW, Euronext: YEW), which owns a diversified portfolio of Irish commercial property assets, announces its intention to move the listing of its entire issued ordinary share capital from the Euronext Growth Market to the primary listing segment of the Official List of Euronext Dublin and to trading on the regulated market of Euronext Dublin (the "Main Market") (together "Admission"). The Company will retain its quote on the AIM market of the London Stock Exchange.

The Irish tax provisions governing REITs require the Company to have its shares listed on a main market of a recognised stock exchange in an EU member state within three years after electing for REIT status, unless the Irish Revenue Commissioners (the "Revenue Commissioners") exercise discretion granted to them under the relevant legislation to extend this period. Yew Grove elected to be a REIT on 20 May 2018 and therefore, absent the Revenue Commissioners exercising such discretion, for Yew Grove this deadline is 20 May 2021.

In October 2020, the Company announced that it had approached the Revenue Commissioners to discuss an extension of this deadline to 31 May 2022 and that the Revenue Commissioners had confirmed that based on Yew Grove's specific circumstances, it was agreeable to such an extension.  Notwithstanding the deadline extension, the board of Yew Grove believes that it is now the appropriate time to obtain a main market listing and that a primary listing will support the long-term strategy of the Company by providing a more appropriate platform for its growth. Furthermore, it is hoped that a listing on the Main Market will further boost Yew Grove's profile as well as potentially increasing the liquidity of trading in its securities, enabling its ordinary shares to be acquired by a wider group of investors.

A prospectus is currently being prepared in connection with the Admission. Once the prospectus is published, it will be available on the Company's website. It is expected that Admission will occur no earlier than 26 May 2021. Trading in the Company's ordinary shares on the Euronext Growth Market will be cancelled simultaneously with Admission. The Company is not raising any funds or issuing any new shares in connection with Admission. No ordinary shares will be offered or marketed to the public in connection with Admission, or the publication of the prospectus.

Following Admission, the Company's ordinary shares will continue to be registered with their existing ISIN number of IE00BDT5KP12 and the Company's stock code will continue to be "YEW" on Euronext Dublin and "YEW" on the AIM Market of the London Stock Exchange. On Admission, there will be 124,922,210 ordinary shares in issue. Following Admission, transfers or sales of ordinary shares will be subject to Irish stamp duty. The rate of Irish stamp duty on shares is currently 1% of the higher of the consideration paid, or the market value of the shares. Where a charge to Irish stamp duty applies it is generally a liability for the transferee.

Goodbody Stockbrokers UC is acting as sponsor to the Company in connection with Admission.

For further information contact:

Goodbody Stockbrokers UC ("Goodbody") is acting as sponsor under the Euronext Dublin Listing Rules, and joint broker to the Company in connection with Admission. Goodbody is acting exclusively for the Company and no one else in connection with Admission and will not be responsible to any other person for providing the protections afforded to customers of Goodbody or for providing advice in relation to Admission.

This announcement is not an offer of securities for sale or subscription in any jurisdiction. This announcement is not a prospectus (or prospectus equivalent document). Investors should not subscribe for or purchase any shares in the Company based on this announcement.  Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The material set forth herein is for information purposes only and should not be construed as an offer of securities for sale in any jurisdiction.