TR-1: Standard form for notification of major holdings INDUSTRIALS REIT LIMITED (Registered in Guernsey) (Registration number 64865) LSE share code: MLI JSE share code: MLI ISIN: GG00BFWMR296 ("Industrials REIT" or the "Company") TR-1: STANDARD FORM FOR NOTIFICATION OF MAJOR HOLDINGS 1. Issuer Details ISIN GG00BFWMR296 Issuer Name Industrials REIT Limited UK or Non-UK Issuer Non-UK 2. Reason for Notification 2. Reason for Notification An acquisition or disposal of voting rights; An acquisition or disposal of financial instruments 3. Details of person subject to the notification obligation Name The Goldman Sachs Group, Inc. City of registered office (if applicable) Wilmington, Delaware Country of registered office (if applicable) USA 4. Details of the shareholder Name City of registered office Country of registered office Goldman Sachs International London United Kingdom 5. Date on which the threshold was crossed or reached 25-Apr-2023 6. Date on which Issuer notified 27-Apr-2023 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights through financial Total number of attached to shares instruments (total of Total of both in voting rights held (total of 8.A) 9.B 1 8.B 2) % (8.A 8.B) in issuer Resulting situation on the date on which threshold 5.380993 0.021387 5.402380 16037530 was crossed or reached Position of previous notification (if applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached 8A. Voting rights attached to shares Class/Type of shares Number of direct ISIN code (if voting rights Number of indirect % of direct voting % of indirect voting possible) (DTR5.1) voting rights (DTR5.2.1) rights (DTR5.1) rights (DTR5.2.1) GG00BFWMR296 15974040 5.380993 Sub Total 8.A 15974040 5.380993% 8B1. Financial Instruments according to (DTR5.3.1R.(1) (a)) Number of voting rights that may be Type of financial Exercise/conversion acquired if the instrument Expiration date period instrument is % of voting rights exercised/converted Securities Lending Open 36725 0.012371 Sub Total 8.B1 36725 0.012371% 8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b)) Type of financial Expiration Exercise/conversion Physical or cash Number of voting % of voting instrument date period settlement rights rights 16-Sep- Swap 2025 Cash 21370 0.007199 15-Jan- Swap 2024 Cash 4487 0.001511 17-Mar- Swap 2033 Cash 908 0.000306 Sub Total 8.B2 26765 0.009016% 9. Information in relation to the person subject to the notification obligation 2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary) % of voting rights % of voting rights through financial Total of both if it Ultimate controlling Name of controlled if it equals or is instruments if it equals or is higher person undertaking higher than the equals or is higher than the notifiable notifiable threshold than the notifiable threshold threshold The Goldman Sachs Group, Inc. (Chain 1) The Goldman Goldman Sachs Group, Sachs (UK) 5.380993 0.021387 5.402380% Inc. (Chain 1) L.L.C. The Goldman Goldman Sachs Group, Sachs Group 5.380993 0.021387 5.402380% Inc. (Chain 1) UK Limited The Goldman Goldman Sachs Group, Sachs 5.380993 0.021387 5.402380% Inc. (Chain 1) International 10. In case of proxy voting Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 11. Additional Information Please note, the total amount of voting rights have been rounded to 6 decimal places therefore there is a possibility of a rounding error. General email contact: gs-regops-emea-position-enquiries@gs.com 12. Date of Completion 27-Apr-2023 13. Place of Completion Warsaw 28 April 2023 For further information: Industrials REIT Limited 44(0)20 3918 6600 Paul Arenson (paul.arenson@industrials.co.uk) Julian Carey (julian.carey@industrials.co.uk) James Beaumont (james.beaumont@industrials.co.uk) Numis Securities Limited (Financial Adviser) 44(0)20 7260 1000 Hugh Jonathan Vicki Paine FTI Consulting (PR Adviser) 44(0)20 3727 1000 Richard Sunderland Richard Gotla Neel Bose industrialsreit@fticonsulting.com Java Capital 27 (0)11 722 3050 (JSE Sponsor) About Industrials REIT: Industrials REIT is a UK REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. The objective of the Company is to deliver a combination of sustainable growing income and growth in value to its investors. Industrials REIT focuses on owning and operating a diversified portfolio of UK purpose built multi-let industrial (MLI) estates across the UK. The Company aspires to be the leading MLI business in the UK. For further information, go to www.industrialsreit.com. Date: 28-04-2023 12:31:00 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.