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

9 March 2020

Further to the announcement published on 19 December 2019 informing shareholders that the Company intended to repurchase shares to mitigate the dilutive effect of the scrip dividend election, shareholders are advised that on 6 March 2020, the Company purchased 1,087,173 ordinary shares at 127 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 15,830,040 ordinary shares and the total number of shares in issue less shares held in treasury is 282,945,135 ordinary shares. From 6 March 2020, the total number of voting rights in the Company is 282,945,135.

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.