STENPROP LIMITED

(Registered in Guernsey)

(Registration number 64865)

LSE share code: STP    JSE share code: STP

ISIN:  GG00BFWMR296

("Stenprop" or the "Company")

AMENDMENT TO DIRECTORS DEALINGS IN SECURITIES ANNOUNCEMENT

10 July 2019

Shareholders are referred to the announcement released on SENS on 8 July 2019, relating to the exercise of vested nil cost options awarded under the Stenprop Limited Amended Deferred Share Bonus Plan ("Deferred Bonus Plan") and are advised that the disclosure in respect of Neil Marais was incorrectly stated as 11,903 nil cost options having been exercised. The actual number of nil cost options that were exercised in terms of the Deferred Share Bonus Plan was 23,468 (at a deemed value of GBP 1.11 per nil cost option), resulting in a total transaction value of GBP 26,049.48.

The Company intends to utilise treasury shares to settle the exercise of the nil cost options by Neil Marais, following which the total number of treasury shares held by the Company will be 15,937,130 ordinary shares and the total number of shares in issue less shares held in treasury will be 282,838,045.

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About Stenprop

Stenprop is a Guernsey-registered UK REIT. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to www.stenprop.com.