REIT Conversion

To: Company Announcements

Date: 05 January 2015

Company: Standard Life Investments Property Income Trust Limited

Subject:REIT Conversion

The Company announces that it is now compliant with the UK REIT regime and was
resident in the UK for tax purposes with effect from 1 January 2015.

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

Claire Louise Cooke
Tel: [phone]
Fax: [phone]