(Incorporated in Bermuda)
(Registration number 47031)
BSX share code: STP.BH JSE share code: STP
ISIN: BMG8465Y1093
(?Stenprop? or the ?company?)


Shareholders are advised that Stenprop completed the acquisition of a modern, fully-let industrial estate in
Huddersfield on 12 March 2018 for #5.8 million in line with its stated strategy to focus on UK multi-let industrial
(?MLI?) property. The purchase from a private investor reflects a net initial yield of 7.4%.

Ellis Hill Industrial Estate is located on the A62 Leeds Road and comprises six units, totalling 76,140 square ft of
space, with good yards. Tenants include Pendragon, trading as Mercedes Benz, Goodman Retail, trading as
Volkswagen, Sicame UK and St Gobain on leases that extend from 4 years to12 years. The average passing rent is
#5.57 per square ft. The company believes that there is the potential to develop higher value uses on some of the
surplus land fronting the A62, which previously had planning consent for an additional 15,000 square ft.

The estate is the fifth acquired by Stenprop since its purchase of the portfolio for #127 million
in June 2017. Stenprop is seeking a further #100 million of multi-let industrial opportunities in the UK over the
course of 2018.

This announcement is voluntary and for information purposes only.

Stenprop has a primary listing on the Main Board of the Johannesburg Stock Exchange (?JSE?) and a secondary
listing on the Bermuda Stock Exchange.

26 March 2018

JSE sponsor
Java Capital

Bermuda Stock Exchange sponsor
Estera Securities (Bermuda) Limited