Picton Property Income Limited Annual Report 2024

Through our occupier focused, opportunity led approach, we aim to be one of the consistently best performing diversified UK REITs listed on the London Stock Exchange. To us this means being a responsible owner of commercial real estate, helping our occupiers succeed and being valued by all our stakeholders.

Strategic Report 01 Business Overview 02 Highlights 04 Purpose 05 Strategy 06 Business Model

08 Future-proofing our Portfolio 16 Chief Executive’s Review 20 Key Performance Indicators

24 Our Marketplace 28 Portfolio Review 38 Financial Review 42 Principal Risks 47 TCFD Statement 56 Being Responsible:

Sustainability Reporting

Governance 78 Chair’s Introduction 80 Governance at a Glance 82 Board of Directors 84 Our Team

86 Leadership and Purpose 90 Section 172 Statement 94 Division of Responsibilities 96 Composition, Succession and Evaluation 103 Audit, Risk and Internal Control 109 Remuneration Report 131 Independent Auditor’s Report 135 Consolidated Statement of Comprehensive Income 136 Consolidated Statement of Changes in Equity 137 Consolidated Balance Sheet 138 Consolidated Statement of Cash Flows 139 Notes to the Consolidated Financial Statements Additional Information 158 EPRA BPR and Supplementary Disclosures 162 Property Portfolio 163 Five Year Financial Summary 164 Glossary 167 Financial Calendar 168 Shareholder Information 128 Directors’ Report Financial Statements

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