Transaction in Own Shares

15 March 2021

Standard Life Investments Property Income Trust Limited (“the Company”)

Legal Entity Identifier (LEI): 549300HHFBWZRKC7RW84

PURCHASE OF OWN ORDINARY SHARES

On 12 March 2021 the Company purchased 577,414 Ordinary Shares at a price of 61.50 pence per share. These shares will be held in treasury.

Following the transaction, the Company’s issued ordinary share capital comprises:

400,172,386 Issued Ordinary shares (excluding treasury shares)

6,693,033 Ordinary shares held in treasury

406,865,419 Issued Ordinary shares (including treasury shares)

The total number of voting rights in the Company is 400,172,386 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules.

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]