Board decision to convert to a REIT 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”) Board decision to convert to a REIT Shareholders are hereby advised that at the Company’s most recent quarterly board meeting, a decision was taken to convert to a Real Estate Investment Trust (“REIT”) (“the Conversion”). The request to the JSE Limited to apply for REIT status will only be made by Ingenuity following compliance with certain REIT criteria, including, but not limited to, the Company’s gearing ratio being at most 60% (“the Gearing Ratio”). In this regard, shareholders are referred to the announcements relating to the acquisition of eight properties and a 67% interest in Insight Property Developments (Palmyra Road) Proprietary Limited (“the Properties” or “the Acquisitions”), and more specifically the vendor placement related thereto (“the Vendor Placement”). The Acquisitions are unconditional, as announced on 2 August 2013, and are not dependent on the Vendor Placement, and the expected transfer date of the Properties is 1 September 2013. The Company is in the process of concluding the Vendor Placement, the results of which will have an impact on the Gearing Ratio. Once the Company has concluded the Vendor Placement, which is expected to occur on or about 30 August 2013, Ingenuity will assess its Gearing Ratio in light of the proposed Conversion. Shareholders will be informed timeously of steps taken to convert to REIT status. Cape Town 12 August 2013 Sponsor Nedbank Capital Date: 12/08/2013 11:50:00 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.