LondonMetric Property plc (?LondonMetric?) noted the recent press speculation and confirms that it does not intend to make an offer for UK Commercial Property REIT Limited (?UKCM?) under Rule 2.7 of the Code. LondonMetric noted the comments made by the Chairman of UKCM in the 21 March 2024 announcement of the all-share combination with Tritax Big Box REIT plc (?BBOX?). However, having only recently completed its merger with LXi REIT on 6 March 2024, LondonMetric is not currently in a position to pursue an offer for UKCM, noting also the irrevocable undertaking provided by Phoenix Life Limited in favour of the combination with BBOX representing approximately 43.4 per cent.

of UKCM's total issued ordinary share capital on 21 March 2024. Under Note 2 on Rule 2.8 of the Code, LondonMetric, and any person(s) acting in concert with it, reserve the right to make or participate in an offer or possible offer for UKCM and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code within six months of the date of this announcement in the following circumstances: (a) with the agreement of the board of UKCM, but only in the event that BBOX's offer has been withdrawn or lapsed; (b) following the announcement of a firm intention to make an offer for UKCM by or on behalf of a third party other than BBOX; (c) following the announcement by UKCM of a Rule 9 waiver proposal (as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or for a reverse takeover (as defined in the Code); or (d) where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.