STENPROP LIMITED

(Registered in Guernsey)

(Registration number 64865)

LSE share code: STP    JSE share code: STP

ISIN:  GG00BFWMR296

("Stenprop" or the "Company")

CHANGE TO THE BOARD OF DIRECTORS

10 June 2020

Shareholders are advised that, as part of a process to increase the proportion of independent directors on the board,  Warren Lawlor has confirmed that he will not stand for re-election at the Company's upcoming annual general meeting to be held on or about 16 September 2020 and that he will step down from his position as a director of the Company with effect from that date.

We wish to thank Warren for his outstanding contribution to the Board since he was appointed in April 2017.

A structured process to identify and attract an independent non-executive director with the appropriate expertise and background to replace Warren will commence in the near future.

For further information:

Stenprop Limited                                                                                            44(0)20 3918 6600

Paul Arenson (paul.arenson@stenprop.com)

Julian Carey (julian.carey@stenprop.com)          

James Beaumont (james.beaumont@stenprop.com)

Numis Securities Limited (Financial Adviser)                                            44(0)20 7260 1000

Hugh Jonathan

Vicki Paine

Justin Bell           

Tavistock (PR Adviser)                                                                                   44(0)20 7920 3150

James Whitmore

James Verstringhe

Java Capital Trustees and Sponsors Proprietary Limited                        27 (0)11 722 3050

(JSE Sponsor)

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.