Notice of AGM and Tender Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

29 April 2019

Raven Property Group Limited ("Raven" or "the Company")

2018 Annual Report, Notice of Annual General Meeting

Proposed purchase of 2 in every 51 ordinary shares of 1p each in the Company ("Ordinary Shares") at 45p per share by way of a tender offer ("the Tender Offer")

On 18 March 2019, the Board of Raven announced in its results for the year ended 31 December 2018, that the Company intended to offer to purchase 2 in every 51 Ordinary Shares by way of a tender offer at a price of 45p per share. The Tender Offer is open to all holders of Ordinary Shares on the Company's register at 6.00 p.m. on Thursday 30 May 2019, who may participate by tendering all or a proportion of their pro rata entitlement of Ordinary Shares at 2 for 51 at 45p per share. The Tender Offer will also present tendering shareholders with an opportunity to sell more than their pro rata entitlement (up to their entire holding of Ordinary Shares) to the extent that other shareholders tender less than their pro rata entitlement. In such case, surplus tenders will be accepted in proportion to the number of additional Ordinary Shares tendered so that the total number of Ordinary Shares purchased does not exceed 24,509,961 (assuming no conversion of the Company's cumulative convertible redeemable preference shares of no par value ("Convertible Preference Shares") in the period).

If the maximum number of 24,509,961 Ordinary Shares is acquired (assuming no conversion of the Company's Convertible Preference Shares in the period), this will result in an amount of £11 million being paid by the Company to its shareholders. It is intended that the Ordinary Shares purchased under the Tender Offer will be cancelled and not available for re-issue. No Ordinary Shares will be purchased in relation to the Tender Offer unless the relevant resolution to be proposed at the Annual General Meeting is passed.

Raven announces that it will be posting to shareholders today a circular containing full details of the Tender Offer, the 2018 Annual Report and a notice of the Annual General Meeting convened for 10.00 a.m. on Friday 31 May 2019.

Copies of the circulars, the tender offer forms, the 2018 Annual Report and the forms of proxy will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/nsm. In addition, the circular and 2018 Annual Report will be available on the Company's website (www.theravenpropertygroup.com) and each of the documents may also be obtained from the Company Secretary.

Enquiries

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