Holding(s) in Company

For filings with the FCA include the annex                                              
                                                                                        
For filings with issuer exclude the annex                                               
                                                                                        
                                                                                        
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                         
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer   PICTON PROPERTY INCOME LIMITED    
of existing shares to which voting rights are                                   
attached:ii                                                                             
                                                                                        
2 Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
An acquisition or disposal of voting rights                                     YES     
                                                                                        
An acquisition or disposal of qualifying financial instruments which may                
result in theacquisition of shares already issued to which voting rights                
are attached                                                                            
                                                                                        
An acquisition or disposal of instruments with similar economic effect to               
qualifying financial instruments                                                        
                                                                                        
An event changing the breakdown of voting rights                                        
                                                                                        
Other (please specify):                                                                 
                                                                                        
3. Full name of person(s) subject to the              J O HAMBRO CAPITAL MANAGEMENT     
notification obligation:iii                                       LIMITED                           
                                                                                        
4. Full name of shareholder(s)                                                          
 (if differentfrom 3.):iv                                                               
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                     12 NOVEMBER 2014                  
reached:v                                                                               
                                                                                        
6. Date on which issuer notified:                     13 NOVEMBER 2014                  
                                                                                        
7. Threshold(s) that is/are crossed or                BELOW 5%                          
reached:vi, vii                                                                         
               
 

8. Notified details:                                                                        
                                                                                            
A: Voting rights attached to sharesviii, ix                                                 
                                                                                            
Class/type     Situation previous      Resulting situation after the triggering transaction   
of             to the triggering                                                              
shares         transaction                                                                    
                                                                                            
                                                                                            
if possible    Number      Number    Number     Number of voting        % of  voting rightsx
using          of          of        of shares       rights                                      
the ISIN       Shares      Voting                                                           
CODE                       Rights                                                           
                                     Direct     Directxi    Indirectxii Direct   Indirect   
                                                                                            
                                                                                            
GB00B0LCW208   22197339    22197339  21797339   21797339                4.96%                 
                                                                                            
                                                                                            
                                                                                            
B: Qualifying Financial Instruments                                                         
                                                                                            
Resulting situation after the triggering transaction                                        
                                                                                            
Type of financial  Expiration Exercise/             Number of voting      % of voting       
instrument         date xiii  Conversion Period xiv rights that may be    rights            
                                                    acquired if the                         
                                                    instrument is                           
                                                    exercised/ converted.                   
                                                                                            
                                                                                            
                                                                                            
                                                                                            
Total (A+B)                                                                                 
                                                                                            
Number of voting rights                       Percentage of voting rights                   
                                                                                            
21797339                                      4.96%                                         
                                                                                            



9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable:xxi                           
                                                                                        
                                                                                        
NOT APPLICABLE                                                                          
                                                                                        
                                                                                        
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                                   -       
                                                                                        
11. Number of voting rights proxy holder will cease                             -       
to hold:                                                                                
                                                                                        
12. Date on which proxy holder will cease to hold                               -       
voting rights:                                                                          
                                                                                        
                                                                                        
                                                                   -                    
13. Additional information:                                                             
                                                                                        
14. Contact name:                                                  Simon Gartery        
                                                                                        
15. Contact telephone number:                                      0207 747 5637