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” or the “Company”)

     ACCEPTANCE BY DIRECTORS OF SHARES AWARDED IN TERMS OF THE
                 COMPANY’S CONDITIONAL SHARE PLAN

In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements,
Stor-Age shareholders are advised that the executive directors have accepted the
following awards of Performance Shares made in terms of the Stor-Age Property REIT
Limited Conditional Share Plan (“CSP”):

Executive director                    : S J Horton
Nature of transaction                 : Off-market acceptance of Performance Shares
                                        awarded in terms of the CSP
Date of award                         : 15 March 2023
Date of acceptance of award           : 28 March 2023
No. of Performance Shares awarded     : 381 388
Award value per share                 : R12.47*
Total value of award                  : R4 755 908.36
Vesting date                          : 1 September 2025**
Nature of interest                    : Direct beneficial

Executive director                    : G M Lucas
Nature of transaction                 : Off-market acceptance of Performance Shares
                                        awarded in terms of the CSP
Date of award                         : 15 March 2023
Date of acceptance of award           : 28 March 2023
No. of Performance Shares awarded     : 381 388
Award value per share                 : R12.47*
Total value of award                  : R4 755 908.36
Vesting date                          : 1 September 2025**
Nature of interest                    : Direct beneficial

Executive director                    : S C Lucas
Nature of transaction                 : Off-market acceptance of Performance Shares
                                        awarded in terms of the CSP
Date of award                         : 15 March 2023
Date of acceptance of award           : 28 March 2023
No. of Performance Shares awarded     : 381 388
Award value per share                 : R12.47*
Total value of award                  : R4 755 908.36
Vesting date                          : 1 September 2025**
Nature of interest                    : Direct beneficial
*        Equal to the closing share price on 27 March 2023
**       The above assumes that the Performance Conditions have been deemed satisfied by the
         Stor-Age Remuneration Committee. If not deemed satisfied by 1 September 2025, then
         the vesting date will be the date upon which this is finalised by the Remuneration
         Committee.
Clearance to trade was obtained for all the above transactions.

Cape Town
28 March 2023


Sponsor
Investec Bank Limited