Completion of EUR30.8M Berlin shopping centre sale

STENPROP LIMITED

(Registered in Guernsey)

(Registration number 64865)

LSE share code: STP JSE share code: STP

ISIN: GG00BFWMR296

("Stenprop" or the "Company")

6 August 2021

STENPROP PORTFOLIO REACHES 83% MLI ON COMPLETION OF €30.8 MILLION DISPOSAL OF BERLIN SHOPPING CENTRE

Further to the announcement made by the Company on 29 December 2020, Stenprop announces that the sale of its freehold interest in the Hermann Quartier shopping centre in Berlin, Germany has now completed. The

transaction takes Stenprop's portfolio to 83%* MLI, based on March 2021 valuations.

James Wakelin, Head of Debt and Special Projects, commented: "This completes the sale of our €95 million Berlin shopping centre portfolio, which we achieved at an average premium of 18% above March 2020 book value. With further disposals underway, we remain on track to complete our transition to being a 100% UK MLI business by March 2022."

*Inclusive of the retained urban logistics assets which complement the wider MLI strategy

This announcement is voluntary and for information purposes only.

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

FTI Consulting (PR Adviser) +44(0)20 3727 1000

Richard Sunderland

Richard Gotla

Neel Bose

Stenprop@fticonsulting.com

Java Capital +27 (0)11 722 3050

(JSE Sponsor)

About Stenprop:

Stenprop is a UK REIT listed on the LSE and the JSE. 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.