abrdn Property Income Trust Limited 

Completion of portfolio sale and publication of circular

The Board of API is pleased to confirm completion of the sale of abrdn Property Holdings Limited (“APH”), its wholly-owned subsidiary (the "Transaction"), to an acquisition vehicle incorporated by certain funds and accounts managed by GoldenTree Asset Management LP. The Company has published a circular to Shareholders (see link below) seeking the approvals necessary to make substantial returns of capital by early January 2025 (expected to be implemented in the first instance by way of a redeemable bonus share scheme) and to put the necessary mechanics in place ultimately to delist and place the company in members' voluntary liquidation. The Company continues to market its interest in the land at Far Ralia and the cash proceeds of the Transaction will be held in a AAA-rated liquidity fund managed by abrdn, the Company's investment manager, apart from an amount to be held in a current account for Transaction and ongoing operating expenses.