Cash dividend; Offer of Dividend Reinvestment Plan

LSE (GBP) Share Code: SRE

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius" or the "Company")

Cash dividend and offer of Dividend Reinvestment Plan

The board of directors of Sirius has earlier today declared a dividend for the six-month period ended 30 September 2023 of €0.030 per share, an increase of 11% on the €0.0270 per share dividend relating to the corresponding period last year.

The dividend is payable on Thursday 25 January 2024 to Sirius shareholders ("Shareholders") on the South African ("SA") share register at the close of business on Thursday, 14 December 2023 and to Shareholders on the United Kingdom ("UK") share register at the close of business on Friday, 15 December 2023.

The Company will not be offering a scrip dividend alternative but, for those Shareholders who wish to receive their dividend in the form of shares, the Dividend Reinvestment Plan ("DRIP") will be available. This means that the net dividend after tax is effectively reinvested by acquiring additional shares in the Company. The DRIP terms and conditions of the DRIP can be found at www.signalshares.com (for Shareholders on the UK share register) and www.sirius-real-estate.com/investors/dividends/

(for Shareholders on the SA share register).

Salient dates and times

Shareholders on the UK share register

The above dates and times are subject to change. Any changes will be released on RNS and SENS as soon as practically possible.

To facilitate settlement of the dividend to entitled SA Shareholders, share certificates may not be dematerialised or rematerialised between Tuesday, 12 December 2023 (the SA Ex-Dividend Date) and Thursday, 14 December 2023 (the SA Record Date). No transfers of Sirius shares shall be registered in the SA share register, or between the SA share register and the UK share register, between Monday, 20 November 2023 (the Dividend Declaration Date) and Thursday, 14 December 2023. All dates are inclusive.

The dividend has been declared by the board of directors of the Company in Euro, from income reserves. UK Shareholders may choose to receive their entitlement to the dividend in cash in either Euro or Sterling. UK Shareholders who do not make a valid Sterling currency election will receive any entitlement to the cash dividend in Euro. The Sterling currency election form is available online at: www.sirius-real-estate.com/investors/dividends/ SA Shareholders will receive any entitlement to the cash dividend in SA Rand ("ZAR").

Conversion Rates

The Euro to Sterling Conversion Rate (UK share register only)

For UK Shareholders who make a valid Sterling currency election, the conversion rate for the purposes of calculating the dividend for the six months ended 30 September 2023 will be a Euro to Sterling Rate of £0.87566.

On this basis, UK Shareholders who have elected to receive their entitlement to the dividend in cash in Sterling will be entitles to a gross dividend of £0.02627 (Sterling) per share. The gross dividend will be subject to tax, unless exempt.

The Euro to ZAR Conversion Rate (SA share register only)

For SA Shareholders, the conversion rate for the purposes of calculating the dividend authorised in connection with the period ended 30 September 2023 will be 19.99090 ZAR to 1 Euro.

The Euro to ZAR conversion for payment of the dividend in ZAR will be settled on Monday, 20 November 2023, using the Euro to ZAR Conversion Rate which has been fixed by the Company as at Friday, 17 November 2023. The closing market price for a share on the JSE on Friday, 17 November 2023 was R19.98.

On this basis, SA Shareholders will receive a gross dividend of 59.97270 (ZAR cents) per share. The gross dividend will be subject to tax, unless exempt.

Dividend Reinvestment Plan

UK Shareholders

SA Shareholders

Certificated shareholders or dematerialised shareholders who have rematerialised their share certificate(s), who wish to participate in the DRIP are required to dematerialise their share certificate(s) and transfer their shares into a CSDP. Should you hold registered share certificates and wish to dematerialise your share certificates in order to participate in the DRIP, please contact Computershare on +2711 370 5000 (overseas) or call 086 1100 933 between 08:30 to 17:00 SAST on business days, for the procedure to be followed.

Property Income Distribution ("PID"), non-PID and taxation

Shareholders are advised that the cash dividend declared will be paid as a 82% PID and 18% non-PID.

Shareholders will thus be paid as follows:

Additional information on the tax implication for Shareholders can be found at www.sirius-real-estate.com/investors/dividends/

SA Non-residents would have to submit a declaration and written undertaking in the prescribed form to the relevant regulated intermediary for the exemption to apply. The declaration and written undertaking must be submitted before the due date for the payment of the dividend.

General information

On Monday, 20 November 2023, being the declaration date of the dividend, the Company had in issue 1,177,722,985 ordinary shares and there were no shares held in treasury. The Company is incorporated in Guernsey with Company number 46442 and its tax registration number in Guernsey is 1EC.956 and its UK tax number is GB 203993015.

The dividend is being paid from Guernsey.

Exchange Control Regulations

The following is intended only as a guide and is therefore not a comprehensive statement of the Exchange Control Regulations of South Africa issued under the South African Currency and Exchanges Act, No. 9 of 1933, as amended ("Exchange Control Regulations"), applicable to SA Shareholders.

Non-resident Shareholders and emigrants who elect to receive:

• The cash dividend
• Reinvested shares via the DRIP
• Non-residents
• Emigrants

Based on shares controlled in terms of the Exchange Control Regulations, reinvested shares will be controlled and form part of the emigrant's remaining assets and be reflected in the capital account held with the Authorised Dealer controlling these assets. In particular, it will be the CSDP of the Authorised Dealer or the CSDP contracted by the Authorised Dealer that will be responsible to implement the election and a "Non-Resident" annotation will appear in the CSDP. These shares will thus form part of the remaining assets of the emigrant. However, it should be noted that it was indicated by the South African Reserve Bank in Exchange Control Circular 3/2023, that remaining funds in South Africa may be transferred from South Africa up to R10 million, subject to the emigrant obtaining the relevant tax TCS clearance from the South African Revenue Service.

In terms of the Exchange Control Regulations of South Africa:

• dividend and residual cash payments are freely transferable from South Africa.

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