Announcement regarding the acquisition of a property INGENUITY PROPERTY INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/018084/06) ISIN: ZAE 000127411 JSE share code: ING (“Ingenuity” or “the Company”) ANNOUNCEMENT REGARDING THE ACQUISITION OF A PROPERTY 1. Introduction Ingenuity shareholders are advised that the Company has entered into an agreement (“the Agreement”) with Nasbou Proprietary Limited (“Nasbou” or "the Seller"), in terms of which Ingenuity will acquire the rental enterprise, including the property situated at 17 Lower Long Street, Cape Town and known as the SARS Building (“the Property") (“the Acquisition”). 2. Rationale for the Acquisition The Property has been acquired in line with the Company’s strategy to build a quality portfolio of assets focused in the Western Cape. It is adjacent to the Virgin Active property that Ingenuity already owns and forms part of a long term strategic site assembly in the precinct. 3. Effective date of the Acquisition Subject to the fulfilment of the conditions precedent set out in paragraph 5 below, the Acquisition will become effective on transfer which is anticipated to be on or about 1 October 2013 (“the Transfer Date”). 4. Consideration for the Acquisition The total consideration for the Acquisition is R47 000 000 million (forty seven million rand) (“the Purchase Consideration”), which will be discharged by Ingenuity as follows: 4.1 by means of a cash payment of R43 million (forty three million rand) to the attorneys of the Seller; and 4.2 the balance of the Purchase Consideration by means of Ingenuity issuing 4 705 882 (four million seven hundred five thousand eight hundred and eighty two) new Ingenuity shares (“the Consideration Shares”) at a price of R0.85 per Consideration Share to the Seller or its nominee. The Purchase Consideration is payable on the Transfer Date. 5. Conditions precedent The Acquisition is subject to fulfilment or waiver of the following conditions precedent: 5.1 by no later than 31 July 2013, Ingenuity obtaining mortgage finance acceptable to discharge that portion of the Purchase Consideration which will not be funded by the issue of the Consideration Shares; 5.2 by no later than 31 July 2013, the board of directors of Ingenuity approving the Acquisition; 5.3 by no later than 19 July 2013, Ingenuity being satisfied with the results of a due diligence investigation; and 5.4 by no later than 19 July 2013, the tenant consenting to the Acquisition as required in terms of the lease. 6. Property specific information relating to the Property Total Weighted Annualised Gross Parking Single or average net property Purchase Value of the lettable Property Sector bays Multi- rental per yield Consideration Property area tenanted m2 % R’000 Rm (1) m2 R Erf number 162 Roggebaai Offices 3 122 33 Single 91.00 7.1 47 000 47 000 Cape Town 1. The Property has been valued by the directors of the Company using the capitalisation of rental method. The valuation excludes additional available bulk of 2 056 m2. The Property will be valued by an independent valuer as part of the due diligence process. 7. Unaudited pro forma financial effects ("Financial Effects") of the Acquisition The Financial Effects of the Acquisition on earnings per share, headline earnings per share, net asset value per share and net tangible asset value per share have not been disclosed as these are not significant. The Financial Effects are the responsibility of Ingenuity's board. 8. Categorisation of the Acquisition The Acquisition is categorised as a Category 2 transaction in terms of the JSE Listings Requirements. 8 July 2013 Cape Town Investment bank and Sponsor Nedbank Capital Date: 08/07/2013 11:30:00 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.