Holding(s) in Company

UK Commercial Property REIT Limited
(an authorised closed-ended investment company incorporated in Guernsey with registration number 45387)

LEI Number: 213800JN4FQ1A9G8EU25
(The "Company")

31 OCTOBER 2023

Holdings in Company

UK Commercial Property REIT Limited has received notification from Phoenix Group Holdings plc ("Phoenix Group") that the shares in the Company held by Phoenix Life Assurance Limited ("PLAL") have been transferred intra-group to Phoenix Life Limited ("PLL"). Phoenix Group holds, through its subsidiaries, 43.39 per cent. of the Company's shares.

This transfer is part of the wider intra-group transfer by Phoenix Group of the insurance businesses of PLAL to PLL which has been effected pursuant to an insurance business transfer scheme under Part VII of the Financial Services and Markets Act 2000 ("the Scheme"). The Scheme became operative at 23:59 on Friday, 27 October 2023 but with effect from 23:59 on Saturday, 30 September 2023.

The Company has not been notified of any other changes to the Phoenix Group's holding in the Company.

For further information please contact:

Paul Evitt / Peter Taylor, abrdn

Tel: [phone]

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

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