Further Cautionary Announcement And Debt Funding Facilities Secured By Freedom Freedom Property Fund Limited (Incorporated in the Republic of South Africa) (Registration No. 2012/129186/06) Share code: FDP ISIN: ZAE000185260 (“Freedom” or “the Company” or “the Group”) FURTHER CAUTIONARY ANNOUNCEMENT AND DEBT FUNDING FACILITIES SECURED BY FREEDOM 1. FURTHER CAUTIONARY ANNOUNCEMENT Further to the cautionary announcement released on the Stock Exchange News Service of the JSE on 2 September 2014, Freedom’s shareholders are advised that the Company is still in negotiations, which if successfully concluded, may have a material effect on the price of the Company's securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made. 2. DEBT FUNDING FACILITIES 2.1. Steelpoort Industrial Steelpoort is a mining town in Limpopo Province’s platinum belt experiencing rapid development with a number of new mines being established. Steelpoort Industrial, which is effectively 100% owned by Freedom through Kadoma Investments (Pty) Ltd (“Kadoma”), is ideally placed to offer facilities to companies providing mining and related services - this is reflected in significant demand for industrial facilities in the area. In line with Freedom’s strategy to further develop Steelpoort Industrial, as set-out in Freedom’s pre-listing statement dated 5 June 2014, the Company is: • developing a further 7 industrial units to meet market demand, providing in excess of a further 8 050m2 gross lettable area (“GLA”). It is anticipated that the first of the new units will be completed and delivered by end October 2014, with the final units expected to be completed by end March 2015; and • upgrading and expanding existing facilities which it is anticipated will be completed by end November 2014. The new expansion at Steelpoort Industrial will provide a total GLA in excess of 27,000m2, excluding undeveloped stands which are let to certain tenants. Further industrial units will be developed as demand in the area dictates and new tenants are engaged. Further planned expansion includes initiating the Tweefontein Residential component of the zoned land owned by the Company in Steelpoort. Tweefontein Residential provides Freedom in excess of 4 000 residential development opportunities. 2.2. New Funding Facilities The Company has concluded agreements with Nedbank Limited (“Nedbank”) to provide term funding facilities to Kadoma totalling R88 million (“New Facilities”), subject to agreed drawdowns and completion of units. The New Facilities will be applied to the Steelpoort Industrial expansion and further development within the Group, including Tweefontein Residential. The gearing within the Group, once the New Facilities are in place, will total R120 million (granted by Nedbank). The facilities are secured by first mortgage bonds over the developed Steelpoort Industrial properties and a surety provided by Freedom. Johannesburg 15 October 2014 Sponsor Corporate Advisor PSG Capital Base Capital Date: 15/10/2014 02:00:00 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.