Dividend Declaration

To:  Company Announcements

Date:  20 April 2021

Company:  Standard Life Investments Property Income Trust Limited

LEI: 549300HHFBWZRKC7RW84

Subject:  Dividend Declaration

Fifth Interim Dividend

On 3 February 2021, recognising the importance of dividends to shareholders, the Board indicated that a further interim dividend would be payable in order to comply with the REIT rules to distribute at least 90% of its annual property income within 12 months of the year end. The Board is therefore pleased to declare that a further property income dividend will be payable by the Company in respect of the year ended 31 December 2020 as follows:

Dividend per Share -  0.381p

Ex-Dividend Date -  29 April 2021

Record Date -  30 April 2021

Payment Date -  18 May 2021

Following the payment of this dividend, shareholders will have received payments totalling 3.713 pence per share in relation to the year ended 31 December 2020,  representing 78% of the 2019 level. Based on this dividend level, dividend cover was 110% for 2020.

All Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel:  [phone]