TEXTON PROPERTY FUND LIMITED - Changes to the Board

Changes to the Board

TEXTON PROPERTY FUND LIMITED                                      
Granted REIT status by the JSE                                
Incorporated in the Republic of South Africa                                  
(Registration number 2005/019302/06)                                 
Share code: TEX       ISIN: ZAE000190542                                       
(“Texton” or “the Company”)


CHANGES TO THE BOARD


In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the Board of Directors of
Texton (“the Board”) hereby notifies its shareholders of the following changes to the Board with effect from
23 November 2017:

-   Ms Kyansambo Vundla has resigned as Independent Non-Executive Director with effect from
    23 November 2017.

    Accordingly, shareholders are referred to ordinary resolution number 7 (Re-appointment of Ms KN Vundla
    as a director) and ordinary resolution number 10 (Re-appointment of Ms KN Vundla as a member of the
    audit and risk committee) included in the Notice of Annual General Meeting, attached to and forming part
    of the Integrated Annual Report 2017, in respect of the Annual General Meeting to be held on Thursday,
    23 November 2017 (“AGM”), and are advised that such resolutions were withdrawn prior to the AGM.

-   Subsequently, the Board takes the pleasure in welcoming Mr Trurman Zuma, who has been appointed as
    an Independent Non-Executive Director and as Chairperson of the Remuneration & Nomination
    Committee of the Company with effect from 23 November 2017.

    Trurman has held directorships on several listed property entity boards for more than 10 years and holds
    a stake in one of South Africa’s largest accounts receivable management companies, where he has
    assumed the role of strategic director. He joined Sanlam Personal Finance in August 2016 as Head of
    Recurring Savings. Trurman also held the role of Head of Global Research and Investments for South
    Africa and Africa for Barclays and Absa, during which time he held positions on numerous boards for the
    Absa Group.

    Trurman is a CA (SA) and holds a BComm and PGradDip (Acc) from the University of Natal (Durban) in
    1997. He was awarded a scholarship to study at Harvard Business School, and completed his Program
    for Management Development in 2004.

The Board would like to thank Ms Vundla for her valuable contribution to the Company and wishes her well in
her future endeavours.

The Board welcomes Mr Zuma to the Board and looks forward to his contribution to the Company.


Johannesburg
23 November 2017

Sponsor
Merchantec Capital

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