Posting of circular and notice of general meeting to shareholders STENPROP LIMITED (Registered in Guernsey) (Registration number 64865) LSE share code: STP JSE share code: STP ISIN: GG00BFWMR296 (“Stenprop” or the “Company”) POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING TO SHAREHOLDERS 27 January 2020 1. POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING Further to the announcement released on SENS on Wednesday 18 December 2019, Stenprop shareholders are advised that the Company has today issued a circular to its shareholders (the “circular”) relating to the proposed disposal of the property known as Bleichenhof in Hamburg, Germany (the “transaction”). The transaction constitutes a category 1 transaction for Stenprop pursuant to the JSE Listings Requirements and requires shareholders’ approval. A general meeting of Stenprop shareholders will be held at 09:00am (GMT) / 11:00am (SAST) on Wednesday, 19 February 2020 at 180 Great Portland Street, London W1W 5QZ, for the purpose of considering and, if deemed fit, passing, with or without modification, the resolutions required to be approved by shareholders in order to authorise and implement the transaction (the “general meeting”). The circular will be available on the Company’s website at www.stenprop.com/investors/circulars-and-notices/ from Monday, 27 January 2020. 2. SALIENT DATES AND TIMES 2020 Last day to trade on the JSE in order to be eligible to participate in and vote at the Tuesday, 11 February general meeting Voting record date Friday, 14 February Last day to lodge forms of proxy for the general meeting with the transfer Monday, 17 February secretaries, by 09:00 (GMT) / 11:00 (SAST) General meeting held at 09:00 (GMT) / 11:00 (SAST) Wednesday, 19 February Results of the general meeting released on RNS and SENS Wednesday, 19 February Notes: 1. All dates and times in the circular are local dates and times in Guernsey and South Africa and are subject to change. Any changes will be released via RNS and SENS. 2. Stenprop shareholders are referred to page 2 of the circular for information on the action required to be taken by them. For further information: Stenprop Limited 44(0)20 3918 6600 Paul Arenson James Beaumont Julian Carey Numis Securities Limited (Financial Adviser) 44(0)20 7260 1000 Hugh Jonathan Vicki Paine 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. Date: 27-01-2020 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.