Results of private placement Equites Property Fund Limited (formerly VB Transport (Proprietary) Limited) (Incorporated in the Republic of South Africa) (Registration number 2013/080877/06) (JSE share code: EQU) (ISIN: ZAE000188843) (“Equites”) RESULTS OF PRIVATE PLACEMENT Investors are referred to Equites’ pre-listing statement issued on Friday, 6 June 2014 and to the abridged pre-listing statement released on SENS on Friday, 6 June 2014, detailing the offer by way of the private placement of Equites shares to invited investors and the subsequent listing of Equites on the JSE. The private placement was heavily oversubscribed. Equites has successfully raised an aggregate amount of R650 million through the private placement, as further detailed below. Equites placed 65 000 000 of its shares with invited investors under the private placement at an issue price of R10.00 per share. The allocated shares will be transferred to successful applicants on a ‘delivery-versus-payment’ basis on the date of listing being Wednesday, 18 June 2014. Corporate advisor, sponsor and bookrunner Java Capital Independent transaction sponsor Deloitte Independent reporting accountants and auditors Moore Stephens Attorneys DLA Cliffe Dekker Hofmeyr 11 June 2014 Date: 11/06/2014 11:45:00 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.