Tranche Update on Value and Indexed Property Income Trust Plc's Equity Buyback Plan announced on July 11, 2022.

Value and Indexed Property Income Trust PLC is a United Kingdom-based investment trust company. The Company invests in directly held United Kingdom commercial property to deliver secure, long-term index-linked income. The Company’s objective is to achieve long term real growth in dividends and capital value without undue risk, invests mainly in directly held United Kingdom commercial property to deliver secure, long-term index-linked income and partly in property-backed United Kingdom securities. It does not invest in overseas property, securities or in unquoted companies. The United Kingdom directly held commercial property accounts for at least 80% of the total portfolio but it may fall below that level if relative market levels and investment value, or a desired increase in cash or near cash securities, make it appropriate. Its portfolio of investments includes United Kingdom properties, United Kingdom equities, and cash. Its investment manager is OLIM Property Limited.