Stenprop changes name to Industrials REIT

(Registered in Guernsey)
(Registration number 64865)
LSE share code: MLI  JSE share code: MLI
("Industrials REIT” or the “Company”)

21 September 2021


The Company announces that, effective today, it has changed its name from Stenprop Limited to Industrials REIT Limited
("Industrials REIT"), in order to align the corporate identity with its “Industrials” operating brand and its investment strategy. The
name change was approved by shareholders at the Company’s annual general meeting on 10 September 2021. As a result of the
change, the Company’s shares will trade under the ticker MLI on both the London and Johannesburg Stock Exchanges as from market
opening this morning.

The Company began refocussing its portfolio away from geographically diverse, multi-sector assets in 2017, having identified several
underlying structural trends that the management team believed would lead to superior income growth and returns in the multi-let
industrial (“MLI”) sector, compared to other real estate asset classes.

Following the sale of the Trafalgar Court office building in Guernsey earlier this month, the Company’s MLI portfolio comprises 92%
of its total portfolio, based on asset valuations as at 31 March 2021. The Company remains on course to achieve its target of being
a 100% MLI business by March 2022.

Paul Arenson, CEO of Industrials REIT, commented: “Adopting the Industrials REIT name marries our operating and corporate
brands and aligns our name more closely with the MLI asset class that the Company now owns and operates. The change marks an
exciting new chapter in the Company’s evolution to a fully fledged MLI operating business.

“Since starting our transition towards solely focusing on the UK multi-let industrial sector in 2017, we have completed over £500
million in disposals of non-core assets and recycled this capital to acquire over 5.5 million sq ft of MLI space, while at the same time
building a market leading operational platform to manage and scale our MLI portfolio.”

For further information:

Industrials REIT Limited                                                           44(0)20 3918 6600
Paul Arenson (
Julian Carey (
James Beaumont (

Numis Securities Limited (Financial Adviser)                                       44(0)20 7260 1000
Hugh Jonathan
Vicki Paine

FTI Consulting (PR Adviser)                                                        44(0)20 3727 1000
Richard Sunderland
Richard Gotla
Neel Bose

Java Capital                                                                       27 (0)11 722 3050
(JSE Sponsor)

About Industrials REIT:
Industrials REIT is a UK REIT listed on the Specialist Fund Segment of the London Stock Exchange and the Johannesburg
Stock Exchange. We specialise in the ownership and operation of UK multi-let industrial (MLI) property. Our purpose is
to revolutionise the MLI sector in the UK for the benefit of our stakeholders. Our goal is to the leading MLI business in
the UK. For further information, go to

Date: 21-09-2021 08:00:00
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