SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - French tax disclosure update

French tax disclosure update

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
(the "Company" or the "Group")

                             FRENCH TAX DISCLOSURE UPDATE

Schroder European Real Estate Investment Trust plc, the company investing in European
growth cities and regions, provides a tax disclosure update.

As previously announced, the French tax authority is proceeding with a tax audit in
relation to the Group's French tax structure.

In the Group's 2024 Annual Report it was disclosed that the range of potential outcomes
indicates a possible exposure of between €nil and €12.6 million, excluding potential
penalties.

As part of the ongoing tax audit, a formal 'Proposal for Adjustment' has been received
from the French tax authority which includes a proposed penalty on any tax found
ultimately due. Including the application of interest and penalties, the potential exposure
for the Group is expected to be up to €14.2 million.

Based on external tax and legal advice received at the time of implementation, and which
has continued to be reviewed on an ongoing basis, the Board continues to believe that an
outflow is not probable and therefore no provision is recognised.

The Group disagrees with the 'Proposal for Adjustment' and will continue to contest its
position and will provide further updates as required.



                                         -Ends-

Enquiries:
Jeff O'Dwyer
Schroder Real Estate Investment Management Limited                    Tel: 020 7658 6000
Natalia de Sousa
Schroder Investment Management Limited                                Tel: 020 7658 6000
Dido Laurimore/Richard Gotla/Ollie Parsons
FTI Consulting                                                        Tel: 020 3727 1000

The Company has a primary listing on the London Stock Exchange and a secondary
listing on the JSE Limited.

London
18 December 2024

JSE Sponsor
PSG Capital

Date: 18-12-2024 09:00:00
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