For filings with the FCA include the annexFor filings with issuer exclude the annexTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi1. Identity of the issuer or the underlying issuer Picton Propertyof existing shares to which voting rights are Income Limitedattached:ii2 Reason for the notification (please tick the appropriate box or boxes):An acquisition or disposal of voting rights XAn acquisition or disposal of qualifying financial instruments which may resultin theacquisition of shares already issued to which voting rights are attachedAn acquisition or disposal of instruments with similar economic effect toqualifying financial instrumentsAn event changing the breakdown of voting rightsOther (please specify):3. Full name of person(s) subject to the BlackRock, Inc.notification obligation:iii4. Full name of shareholder(s) (if differentfrom 3.):iv5. Date of the transaction and date onwhich the threshold is crossed or 23rd January 2015reached:v6. Date on which issuer notified: 26th January 20157. Threshold(s) that is/are crossed or Holding has gone above 5%reached: vi, vii8. Notified details:A: Voting rights attached to sharesviii, ixClass/type Situation previous Resulting situation after the triggering transactionof to the triggeringshares transactionif possible Number Number Number Number of voting % of voting rightsxusing of of of shares rightsthe ISIN Shares VotingCODE Rights Direct Directxi Indirectxii Direct IndirectGB00B0LCW208 N/A N/A N/A N/A 29,108,477 N/A 6.08%B: Qualifying Financial InstrumentsResulting situation after the triggering transactionType of financial Expiration Exercise/ Number of voting % of votinginstrument datexiii Conversion Periodxiv rights that may be rights acquired if the instrument is exercised/ converted.C: Financial Instruments with similar economic effect to Qualifying FinancialInstrumentsxv, xviResulting situation after the triggering transactionType of Exercise price Expiration Exercise/ Number of voting rights % of voting rightsxix,financial datexvii Conversion instrument refers to xxinstrument periodxviii Nominal DeltaTotal (A+B+C)Number of voting rights Percentage of voting rights29,108,477 6.08%9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:xxiProxy Voting:10. Name of the proxy holder:11. Number of voting rights proxy holder will ceaseto hold:12. Date on which proxy holder will cease to holdvoting rights:13. Additional information: BlackRock Regulatory Threshold Reporting Team14. Contact name: Gareth Slade15. Contact telephone number: 020 7743 2536Note: Annex should only be submitted to the FCA not the issuerAnnex: Notification of major interests in sharesxxiiA: Identity of the persons or legal entity subject to the notificationobligationFull name(including legal form of legal entities) BlackRock, Inc.Contact address c/o 12 Throgmorton Avenue,(registered office for legal entities) London, EC2N 2DLPhone number & email 020 7743 2536; emeadisclosures@blackrock.comOther useful information BlackRock Regulatory(at least legal representative for legal persons) Threshold Reporting TeamB: Identity of the notifier, if applicable BlackRock InvestmentFull name Management (UK) LimitedContact address 12 Throgmorton Avenue, London, EC2N 2DLPhone number & email 020 7743 2536; emeadisclosures@blackrock.comOther useful information BlackRock Regulatory(e.g. functional relationship with the person or legal Threshold Reporting Teamentity subject to the notification obligation)C: Additional informationFor notes on how to complete form TR-1 please see the FCA website.