Further disposal of shares in Industrials REIT Limited ZARCLEAR HOLDINGS LIMITED (Incorporated in South Africa) (Registration number 2000/013674/06) Share code: ZCL ISIN: ZAE000262820 (“Zarclear” or the “Company”) FURTHER DISPOSAL OF SHARES IN INDUSTRIALS REIT LIMITED 1. INTRODUCTION 1.1. Shareholders are referred to the previous announcements published on SENS, the last of which was published on 3 August 2021, regarding the disposal of shares in Industrials REIT Limited (formerly Stenprop Limited) (“Industrials REIT” or “MLI”) by Zarclear (the “previous disposals”). 1.2. Shareholders are now advised that Zarclear has disposed of a further: 1.2.1. 105 519 MLI shares for a sale price of R37.81 per share and an aggregate sale consideration of R3 989 718.51, which sale was executed by way of an on-market block trade on the JSE on 1 October 2021; and 1.2.2. 400 000 MLI shares for a sale price of R37.44 per share and an aggregate sale consideration of R14 976 467.04, which sale was executed by way of an on-market block trade on the JSE on 4 October 2021, collectively referred to herein as (the “latest disposals”). 1.3. Following the latest disposals, Zarclear now owns in aggregate 6 089 473 MLI shares, thus decreasing its shareholding to c.2.04% of the total MLI shares in issue. 2. DESCRIPTION OF INDUSTRIALS REIT AND RATIONALE FOR THE LATEST DISPOSALS 2.1. Industrials REIT is a Guernsey-registered UK REIT with a dual-primary listing on the Main Board of the JSE and on the Specialist Fund Segment of the Main Market of the London Stock Exchange, whose objective is to deliver sustainable growing income to its investors. Industrials REIT’s investment policy is to invest in a diversified portfolio of UK multi-let industrial properties with the strategic goal of becoming the leading multi-let industrial business in the UK. 2.2. Zarclear’s shareholding in Industrials REIT forms a disproportionately large part of the Zarclear portfolio. The latest disposals were effected at an attractive price to reduce Zarclear’s exposure to the listed property sector and create additional liquidity in the Company. 2.3. The proceeds of the latest disposals will be held as cash and cash resources. 3. FINANCIAL INFORMATION Industrials REIT’s last reported net asset value and its net profit after tax, as disclosed in its audited results, prepared in terms of IFRS, for the year ended 31 March 2021 were GBP425.8 million and GBP53.9 million, respectively. 4. CATEGORISATION The latest disposals, when aggregated with the previous disposals, is classified as a category 2 transaction in terms of the JSE Listings Requirements and is, accordingly, not subject to approval by shareholders. 5 October 2021 Sponsor Java Capital Date: 05-10-2021 08:55:00 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.