London, January 27
For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer Picton Property of existing shares to which voting rights are Income Limited attached:ii 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which may result in theacquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the BlackRock, Inc. notification obligation:iii 4. Full name of shareholder(s) (if differentfrom 3.):iv 5. Date of the transaction and date on which the threshold is crossed or 23rd January 2015 reached:v 6. Date on which issuer notified: 26th January 2015 7. Threshold(s) that is/are crossed or Holding has gone above 5% reached: vi, vii 8. Notified details: A: Voting rights attached to sharesviii, ix Class/type Situation previous Resulting situation after the triggering transaction of to the triggering shares transaction if possible Number Number Number Number of voting % of voting rightsx using of of of shares rights the ISIN Shares Voting CODE Rights Direct Directxi Indirectxii Direct Indirect GB00B0LCW208 N/A N/A N/A N/A 29,108,477 N/A 6.08% B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of voting instrument datexiii Conversion Periodxiv rights that may be rights acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying Financial Instrumentsxv, xvi Resulting situation after the triggering transaction Type of Exercise price Expiration Exercise/ Number of voting rights % of voting rightsxix, financial datexvii Conversion instrument refers to xx instrument periodxviii Nominal Delta Total (A B C) Number of voting rights Percentage of voting rights 29,108,477 6.08% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:xxi Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: BlackRock Regulatory Threshold Reporting Team 14. Contact name: Gareth Slade 15. Contact telephone number: 020 7743 2536 Note: Annex should only be submitted to the FCA not the issuer Annex: Notification of major interests in sharesxxii A: Identity of the persons or legal entity subject to the notification obligation Full name (including legal form of legal entities) BlackRock, Inc. Contact address c/o 12 Throgmorton Avenue, (registered office for legal entities) London, EC2N 2DL Phone number & email 020 7743 2536; firstname.lastname@example.org Other useful information BlackRock Regulatory (at least legal representative for legal persons) Threshold Reporting Team B: Identity of the notifier, if applicable BlackRock Investment Full name Management (UK) Limited Contact address 12 Throgmorton Avenue, London, EC2N 2DL Phone number & email 020 7743 2536; email@example.com Other useful information BlackRock Regulatory (e.g. functional relationship with the person or legal Threshold Reporting Team entity subject to the notification obligation) C: Additional information For notes on how to complete form TR-1 please see the FCA website.