Notice Of Trading Update SIRIUS REAL ESTATE LIMITED (Incorporated in Guernsey) Company Number: 46442 JSE Share Code: SRE LSE (EUR) Share Code: ESRE LSE (GBP) Share Code: SRE ISIN Code: ISIN GG00B1W3VF54 01 April 2019 Sirius Real Estate Limited ("Sirius Real Estate", “Sirius” or the "Company") Notice of trading update Sirius Real Estate, the leading operator of branded business parks providing conventional space and flexible workspace in Germany, will announce a trading update at 07.00 on Monday, 08 April 2019. A conference call for analysts will be held at 09.00 on the day of the announcement. If you wish to dial in, please email james.verstringhe@tavistock.co.uk for details. For further information: Sirius Real Estate Andrew Coombs, CEO/Alistair Marks, CFO Tel: +49 (0)30 285010110 Tavistock (Financial PR) Jeremy Carey/James Verstringhe Tel: +44 (0)20 7920 3150 Email: siriusrealestate@tavistock.co.uk NOTES TO EDITORS About Sirius Real Estate Sirius is a property company listed on the main market and premium segment of the London Stock Exchange and the main board of the Johannesburg Stock Exchange. It is a leading operator of branded business parks providing conventional space and flexible workspace in Germany. The Company's core strategy is the acquisition of business parks at attractive yields, the integration of these business parks into its network of sites under the Company's own name as well as offering a range of branded products within those sites, and the reconfiguration and upgrade of existing and vacant space to appeal to the local market, through intensive asset management and investment. The Company's strategy aims to deliver attractive returns for shareholders by increasing rental income and improving cost recoveries and capital values, as well as by enhancing those returns through financing its assets on favourable terms. Once sites are mature and net income and values have been optimised, the Company may take the opportunity to refinance the sites to release capital for investment in new sites or consider the disposal of sites in order to recycle equity into assets which present greater opportunity for the asset management skills of the Company's team. On 1 March 2019, Sirius announced that, in a transaction anticipated to complete in June 2019, it had formed a real estate investment joint venture with clients represented by AXA Investment Managers - Real Assets in which AXA acting on behalf of its clients, will own a 65% interest and Sirius will own the balance of 35%. The JV is called Titanium. The JV will initially be formed by AXA acquiring, on behalf of its clients, from Sirius a 65% stake in five SPVs through which it currently owns two business parks located in Berlin (Berlin Borsig and Berlin Tempelhof) and one in each of Mainz, Nurnberg and Bayreuth. The business parks provide a combination of office, warehouse, industrial and storage space. The implied property value of €168 million equates to a gross yield for the portfolio of 6.2% and reflects a premium to the last reported book value as at 30 September 2018 which was €141.1 million. Total cash commitment from AXA IM - Real Assets amounts to €43.9 million. The transaction is expected to generate total cash proceeds of more than €70 million for Sirius after refinancing and expected related costs. For more information, please visit: www.sirius-real-estate.com Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/ Follow us on Twitter at @SiriusRE LEI: 213800NURUF5W8QSK566 JSE Sponsor PSG Capital Date: 01/04/2019 12:30:00 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.