Transaction in Own Shares

STENPROP LIMITED

(Registered in Guernsey)

(Registration number 64865)

LSE share code: STP JSE share code: STP

ISIN: GG00BFWMR296

("Stenprop" or the "Company")

TRANSACTION IN OWN SHARES

2 August 2018

Further to the announcement published on 10 July 2018 informing shareholders that the Company intended to repurchase shares to mitigate the dilutive effect of the scrip dividend election, shareholders are advised that on Wednesday, 1 August 2018 the Company purchased 227,373 ordinary shares at 112.6178 pence per share. These shares will be held as treasury shares.

Following the above transaction, the total number of treasury shares held by the Company is 11,358,172 ordinary shares and the total number of shares in issue less shares held in treasury is 280,411,123 ordinary shares. From 2 August 2018, the total number of voting rights in the Company is 280,411,123.

For further information:

Stenprop Limited +44(0)20 7079 6600

Paul Arenson

Patsy Watson

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

Kirsty Allan

Instinctif Partners (SA Investor Relations and PR Adviser) +27 (0)11 447 3030

Keagile Makgoba

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.