INDUSTRIALS REIT LIMITED

(formally STENPROP LIMITED)

(Registered in Guernsey)

(Registration number 64865)

LSE share code: MLI    JSE share code: MLI

ISIN:  GG00BFWMR296

("Industrials REIT" or the "Company")

15 October 2021

NOTICE OF QUARTERLY TRADING UPDATE

Industrials REIT will announce its quarterly trading update for the period 1 July 2021 to 30 September 2021 on Friday, 29 October 2021. There will be a live webcast presentation for investors and analysts commencing at 9.00am UK / 10.00am SAST. The update will include management providing an overview of key ongoing initiatives alongside recent acquisitions as well as sharing data from the Industrials Hive operating platform. The presentation will also provide an outlook for the upcoming six months, as the Company moves towards the completion of its four-year transition.

In order to register for the webcast, please follow the link below:

https://bit.ly/30rqvY8

For further information:

Industrials REIT Limited                                                                                                     +44(0)20 3918 6600

Paul Arenson (paul.arenson@industrials.co.uk)

Julian Carey (julian.carey@industrials.co.uk)

James Beaumont (james.beaumont@industrials.co.uk)

Numis Securities Limited (Financial Adviser)                                                                 +44(0)20 7260 1000

Hugh Jonathan

Vicki Paine

FTI Consulting (PR Adviser)                                                                                                +44(0)20 3727 1000

Richard Sunderland

Richard Gotla

Neel Bose

industrialsreit@fticonsulting.com

Java Capital                                                                                                                           +27 (0)11 722 3050

(JSE Sponsor)

About Industrials REIT:

Industrials REIT is a UK REIT listed on the Specialist Fund Segment of the London Stock Exchange and the Johannesburg Stock Exchange. We specialise in the ownership and operation of UK multi-let industrial (MLI) property. Our purpose is to revolutionise the MLI sector in the UK for the benefit of our stakeholders. Our goal is to the leading MLI business in the UK. For further information, go to industrialsreit.com.