Expansion of two existing self storage properties Stor-Age Property REIT Limited Incorporated in the Republic of South Africa Registration number 2015/168454/06 Share Code: SSS ISIN ZAE000208963 (Approved as a REIT by the JSE) (“Stor-Age”) Expansion of two existing self storage properties The board of directors of Stor-Age is pleased to provide an update in respect of the expansion of two existing properties within its portfolio. As a result of sustained high levels of occupancy and strong customer demand at Stor-Age Gardens and Stor-Age Durbanville, both properties will undergo further development with the addition of 5 500 m² and 2 500 m² of gross building area at each property respectively. Property: Stor-Age Gardens Stor-Age Durbanville Address: 121 Roeland Street, Cnr of Pinehurst Drive & Okavango Gardens Road Pinehurst Projected development R32 million R12 million cost: Gross building area: 5 500 m² 2 500 m² Start date: May 2016 June 2016 Project completion date : December 2016 January 2017 Both projects will be funded from existing debt facilities and are projected to be yield neutral within their first 12 months of trading and yield enhancing thereafter, providing an immediate uplift to the Net Asset Value of the portfolio on completion. As part of the redevelopment, the facades to all levels at Stor-Age Gardens are being redesigned, given the prominence of this property’s location at one of the key entry points into the Cape Town CBD. Stor-Age CEO Gavin Lucas commented: “Despite the tough economic environment within which South Africa currently finds itself, it is pleasing to note that we have experienced a strong trading performance across our portfolio nationally and in particular from these two properties. Both of these properties are situated in prime locations and were originally planned with the intention of building them out further in later years. This provides support to our strategy of only developing new self storage properties in outstanding locations.” Cape Town 25 May 2016 Sponsor Questco (Pty) Ltd Date: 25/05/2016 08:30:00 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.