2019 Interim Results Raven Property Group Limited Incorporated in Guernsey Company number 43371 LSE share code: RAV; JSE share code: RAV ISIN:GB00B0D5V538 (“Raven” or the “Company”) 2019 Interim Results Raven today announces its unaudited results for the six months ended 30 June 2019 Highlights - Net operating income of £64.3 million for the six months to 30 June 2019 (30 June 2018: 57.6 million) - Average occupancy of 90% for the period (30 June 2018: 84%); - Basic underlying earnings per share 5.31p (30 June 2018: 0.67p); - IFRS profit for the period of £26.2 million (30 June 2018: loss of £28.8 million); - Diluted net asset value per share increases by 40% to 67p (31 December 2018: 48p); - 14.8% of the Company’s ordinary shares purchased for 36p per share and cancelled on 21 August 2019; - On a proforma basis, this increases net asset value per share by a further 5p; - Proposed distribution of 1.25p per ordinary share by way of a tender offer buy back of 1 in 44 shares at 55p. Glyn Hirsch CEO said “We are pleased with these results which reflect steadily improving market conditions and finally, some currency movements working in our favour.“ INFORMATION REQUIRED TO BE DISCLOSED UNDER THE JSE LISTING RULES Income Statement for the 6 months ended: 30 June 2019 30 June 2018 Change Net Rental and Related Income £64.3m £57.6m £6.7m Operating profit £88.9m £11.7m £77.2m Headline EPS basic 1.85p (0.36)p 2.21p Headline EPS diluted 1.84p (0.36)p 2.20p EPS Basic 4.30p (4.42)p 8.72p EPS Diluted 3.89p (4.42)p 8.31p Distribution per share 1.25p 1.25p - Balance Sheet at: 30 June 2019 31 December 2018 Change Net Asset Value £396.9m £295.6m £101.3m Extract from unaudited 2019 Interim Results This short-form announcement is the responsibility of the Directors of Raven. The information disclosed is only a summary of the information contained in the full announcement and does not contain full or complete details. The full unaudited 2019 Interim Results announcement should be considered for any investment decision. and is available for viewing on the JSE’s website at https://senspdf.jse.co.za/documents/2019/jse/isse/rave/ravhy2019.pdf and on the Company’s website at https://www.theravenpropertygroup.com/investors/results-reporting/2019. The full unaudited 2019 Interim Results announcement is also available for inspection at the Company’s registered office and the offices of our JSE sponsor during normal business hours, at no charge. Alternatively, copies of the full announcement may be requested from the Company via email at investorrelations@ravenrussia.com. 27 August 2019 JSE Sponsor: Rencap Securities (Pty) Limited About Raven Property Group Raven Property Group Limited was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares and preference shares are listed on the Main Market of the London Stock Exchange and admitted to the Official List of the UK Listing Authority and the Official List of The International Stock Exchange ("TISE"). Its Ordinary Shares also have a secondary listing on the main board of the Johannesburg Stock Exchange and the Moscow Stock Exchange. Its convertible preference shares are admitted to the Official List of TISE and to trading on the SETSqx market of the London Stock Exchange. The Group operates out of offices in Guernsey, Moscow and Cyprus and has an investment portfolio of circa 1.9 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don, Novosibirsk and Nizhny Novgorod and 49,000 square metres of commercial office space in St Petersburg. For further information visit the Company's website: www.theravenpropertygroup.com Date: 27/08/2019 08:00:00 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.