Acquisition of Bravo Inns

NewRiver is pleased to announce the acquisition of community pub company Bravo Inns Limited ("Bravo Inns") for £17.9 million, representing an EBITDA multiple of 6.8x. The transaction is expected to generate annualised outlet EBITDA of £2.6 million, equating to a yield on cost of 14%, which excludes £0.3 million of synergies expected to be realised through the transfer of Bravo Inns to the Hawthorn Leisure platform. The transaction will be accretive to Underlying Funds From Operations and will further increase dividend cover, which is the Company's key priority.

Bravo Inns owns 44 wet-led community pubs, predominantly located in North West England. The Bravo Inns management have established a high-quality, well-managed and well-invested operator managed portfolio which complements Hawthorn Leisure's existing 660 community pub portfolio.

The acquisition will increase NewRiver's exposure to the highly profitable operator managed pub model. This will provide the Company with opportunities to drive higher returns through accretive capital expenditure and other asset management initiatives, whilst providing the Company with a higher degree of management control and oversight.

Mark Davies, Chief Financial Officer of NewRiver and CEO of Hawthorn Leisure commented: "The UK pub sector has experienced a recent revival in transaction activity and, as an early investor into community pubs, we have been tracking the success of Bravo Inns for some time. The transaction will increase our portfolio weighting in community pubs and demonstrates the value of our Hawthorn Leisure platform in identifying acquisitions that can deliver higher yielding sustainable cashflows with scale driven synergies. A further attraction of this acquisition is the quality of the pub estate and the pub partners. We look forward to welcoming Bravo Inns and its pub partners to Hawthorn Leisure."

About NewRiver

NewRiver REIT plc (‘NewRiver’) is a leading Real Estate Investment Trust specialising in buying, managing and developing essential retail and leisure assets throughout the UK.

Our £1.1 billion portfolio covers 9 million sq ft and comprises 33 community shopping centres, 24 conveniently located retail parks and around 700 community pubs. We hand-picked our assets to deliberately focus on occupiers providing essential goods and services, and avoid structurally challenged sub-sectors such as department stores, mid-market fashion and casual dining. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and inbuilt 2.6 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further information.

LEI Number: 2138004GX1VAUMH66L31