TR-1: Standard Form For Notification Of Major Holdings 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 ("Sirius Real Estate" or the "Company") TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are Sirius Real Estate Limited attached: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer X 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights An acquisition or disposal of financial instruments X An event changing the breakdown of voting rights Other (please specify)iii: 3. Details of person subject to the notification obligation Aggregate of Standard Life Aberdeen plc affiliated Name investment management entities with delegated voting rights on behalf of multiple managed portfolios City and country of registered office (if applicable) Edinburgh, Scotland 4. Full name of shareholder(s) (if different from 3.)v Name City and country of registered office (if applicable) 5. Date on which the threshold was crossed or 18/07/2019 reachedvi: 6. Date on which issuer notified (DD/MM/YYYY): 22/07/2019 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights Total number of through financial Total of both in % attached to shares voting rights of instruments (8.A + 8.B) (total of 8. A) issuervii (total of 8.B 1 + 8.B 2) Resulting situation 5.39 0.00 5.39 1,022,140,875 on the date on which threshold was crossed or reached Position of previous notification (if 4.96 0.44 5.40 applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii A: Voting rights attached to shares Class/type of Number of voting rightsix % of voting rights shares ISIN code (if possible) Direct Indirect Direct Indirect (Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive 2004/109/EC) (DTR5.1) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.2.1) (DTR5.2.1) GG00B1W3VF54 N/A 55,048,473 N/A 5.39 SUBTOTAL 8. A 55,048,473 5.39 B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) Number of voting rights Type of financial Expiration Exercise/ that may be acquired if % of voting rights instrument datex Conversion Periodxi the instrument is Exercised/converted. SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) Exercise/ Physical or Type of financial Expiration Number of Conversion cash % of voting rights instrument datex voting rights Period xi settlementxii SUBTOTAL 8.B.2 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity xiv X (please add additional rows as necessary) % of voting % of voting rights rights if it Total of both if it through financial equals or is equals or is higher Namexv instruments if it equals higher than than the notifiable or is higher than the the notifiable threshold notifiable threshold threshold Standard Life Aberdeen plc Aberdeen Asset Management PLC Aberdeen Asset Managers Limited Standard Life Aberdeen plc Aberdeen Asset Management PLC Aberdeen Asset Investment Group Limited Aberdeen Asset Investments Limited Standard Life Aberdeen plc Aberdeen Asset Management PLC Aberdeen Asset Investment Group Limited Aberdeen Investment Solutions Limited Standard Life Aberdeen plc Standard Life Investments (Holdings) Limited Ignis Asset Management Limited Ignis Investment Services Limited 10. In case of proxy voting, please identify: Name of the proxy holder N/A The number and % of voting rights held N/A The date until which the voting rights will be held N/A 11. Additional informationxvi In reference to section 9, the shares detailed are managed by the named discretionary investment management entity within multiple portfolios on behalf of underlying clients, based on investment management agreements whereby the client has delegated the exercise of the voting power to the referenced investment manager. This disclosure also reflects the fact that the voting rights effectively held indirectly by the underlying intermediate holding company Aberdeen Asset Management PLC (“AAM PLC”) increased above the 5% notifiable threshold due to the execution of a right to recall lent shares. AAM PLC now effectively holds the delegated voting rights to 5.23% of the shares in Sirius Real Estate Limited. Prior to this crossing, AAM PLC effectively held 4.79% of the delegated voting rights less the right to recall lent shares. Place of completion Aberdeen, United Kingdom Date of completion 22/07/2019 22 July 2019 JSE Sponsor PSG Capital Date: 22/07/2019 03:30:00 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.