Results of Annual General Meeting ("AGM") ORION REAL ESTATE LIMITED Incorporated in the Republic of South Africa) (Registration number: 1997/021085/06) Share Code: ORE ISIN: ZAE000075651 ("Orion Real Estate" or “the company”) RESULTS OF ANNUAL GENERAL MEETING (“AGM”) Further to the announcement released on SENS on 22 October 2014, shareholders are advised that at the general meeting of Orion held on 24 November 2014, convened in terms of the notice of general meeting contained in the Annual Report, the voting information is as follows: Number of ordinary shares represented at the meeting 589 662 167 Total issued number of ordinary shares 630 698 685 Percentage of ordinary shares represented at the meeting 93.4% The resolutions proposed at the general meeting, together with the percentage of votes carried for and against each resolution, are set out below: For Against: Abstain Total Resolution proposed % % % shares voted Ordinary resolution number 1: 589 662 167 Nil Nil 589 662 167 Auditor’s Report 100% Ordinary resolution number 2: 589 662 167 Nil Nil 589 662 167 Adoption of Annual Financial Statements 100% Ordinary resolution number 3: 589 662 167 Nil Nil 589 662 167 Re-election of DR A C GMEINER 100% Ordinary resolution number 4: 589 662 167 Nil Nil 589 662 167 Re-election of MR R S WILKINSON 100% Special resolution number 1: 589 662 167 Nil Nil 589 662 167 Remuneration of non-executive directors 100% Special Resolution number 2: 589 662 167 Nil Nil 589 662 167 Financial assistance in terms of section 45 100% of the Companies Act Ordinary resolution number 5: 589 662 167 Nil Nil 589 662 167 Re-appointment of auditor 100% Ordinary resolution number 6: 589 662 167 Nil Nil 589 662 167 Re-election of Audit & Risk Management 100% Committee: Member: PROF F M VIRULY Ordinary Resolution number 7: 589 662 167 Nil Nil 589 662 167 Re-election of Audit & Risk Management 100% Committee: Member: MR M D K MTHEMBU Ordinary Resolution number 8: 589 662 167 Nil Nil 589 662 167 Re-election of Audit & Risk Management 100% Committee: Member: MR R S WILKINSON Ordinary Resolution number 9: 589 662 167 Nil Nil 589 662 167 Non-binding advisory vote on the 100% Company’s remuneration policy Ordinary Resolution number 10 589 662 167 Nil Nil 589 662 167 Authority to issue shares. Not applicable 100% to issue of shares for cash By order of the board Johannesburg 4 December 2014 Sponsor Arbor Capital Sponsors Proprietary Limited Company Secretary to Orion Real Estate Limited CORPORATE GOVERNANCE FACILITATORS CC CHARTERED SECRETARIES Date: 04/12/2014 12:25:00 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.