Intention to amend Investment Advisory Agreement

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust with secure, inflation-linked, long-dated income from grocery property, announces it has reached an agreement with its investment adviser, Atrato Capital Limited (the "Investment Adviser"), which will see the basis of the management fee calculation move from net asset value to market capitalisation, effective from 1 July 2025. The current fee thresholds and rates applied to the net asset value-based calculations will be retained in the updated agreement, as shown below (the "IAA Fees").

It is also proposed that the Company will transfer its outsourced AIFM, Company Secretarial and payments processing functions to the Investment Adviser, subject to a separate fee.

A combination of the change in IAA Fees to market capitalisation and transfer of the above functions to the Investment Adviser will deliver material cost savings to the Company.

The finalisation of the new agreements will be subject to shareholder approval and UK Listing Rule 11.5.12. Further detail will be announced as appropriate.

Nick Hewson, Chair of Supermarket Income REIT, said:

"We have worked closely with the Investment Adviser to identify ways to deliver both material cost savings and even closer alignment with the interests of the Company and its shareholders. Once documented, these initiatives are expected to enhance earnings and are an important step towards our goal of having one of the lowest EPRA cost ratios in the UK REIT sector."