Notice Of Dividend Currency Exchange Rate (Sterling) Schroder European Real Estate Investment Trust PLC (Incorporated in England and Wales) Registration number: 09382477 JSE Share Code: SCD LSE Ticker: SERE ISIN number: GB00BY7R8K77 3 September 2018 NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE (STERLING) On 3 August 2018, Schroder European Real Estate Investment Trust plc (the “Company”) announced its third interim dividend for the year ending 30 September 2018 of 1.85 euro cents per share. Shareholders on the UK register will receive their dividends in sterling, unless an election is completed and registered with the Company's registrars. The deadline for the currency election in respect of the forthcoming interim dividend payment was 31 August 2018. This announcement confirms that the currency exchange rate applicable for the interim dividend for shareholders on the UK register who did not make a currency election before the applicable deadline and who therefore will receive their dividend in sterling is: Declared dividend Exchange rate Dividend to be paid for those receiving dividends in sterling 1.85 euro cents per share 0.90160 1.66796 pence per share The dividend will be paid on 14 September 2018 to shareholders who were on the register at the close of business on 31 August 2018. Enquiries: Duncan Owen/Jeff O’Dwyer Schroder Real Estate Investment Management Limited Tel: 020 7658 6000 Ria Vavakis Schroder Investment Management Limited Tel: 020 7658 2371 Dido Laurimore Tel: 020 3727 1000 FTI Consulting JSE Sponsor PSG Capital Date: 03/09/2018 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.