Announcement of dividend reinvestment price and confirmation of finalisation information REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/018591/06) JSE share code: RDF ISIN: ZAE000190252 (Approved as a REIT by the JSE) (“Redefine” or the “company”) ANNOUNCEMENT OF DIVIDEND REINVESTMENT PRICE AND CONFIRMATION OF FINALISATION INFORMATION Further to the declaration of a cash dividend of 39.00 cents per share (the “cash dividend”) with an election to reinvest the cash dividend in return for Redefine shares (the “share alternative”), announced on SENS on 7 May 2015 (the “declaration announcement”), the price per share, as determined on 15 May 2015, applicable to Redefine shareholders electing the share alternative and recorded in the register on Friday, 29 May 2015 (i.e. the “record date”’), is R10.70 per share (the “reinvestment price”). The reinvestment price is a 2.73% discount to the five-day volume weighted average traded price (less the cash dividend) and a 1.92% discount to the closing spot price (less the cash dividend) of Redefine shares on the JSE prior to the finalisation date. The ratio in respect of the share alternative for South African resident shareholders exempt from dividend tax is 3.64486 shares : 100 shares held on the record date. Accordingly, the number of new shares to be issued per 100 shares held on the record date is 3.64486 shares. Fractions will be rounded up to the nearest whole number where the fraction is greater than or equal to 0.5 and rounded down to the nearest whole number where the fraction is less than 0.5. Dividend withholding tax (“dividend tax”) implications Dividend Tax implications for South African resident shareholders Dividends received from a Real Estate Investment Trust (“REIT”) are exempt from dividend tax in the hands of South African resident shareholders provided that the shareholders have provided the requisite declaration as to residence as detailed in paragraph 5 of the circular to Redefine shareholders dated and posted on Thursday, 7 May 2015 (the “circular”). South African resident shareholders, who have submitted the requisite documentation and are exempt from dividend tax, will accordingly receive a net dividend of 39.00 cents per share. Dividend Tax implications for non-resident shareholders Dividends received from a REIT by a non-resident shareholder will be subject to dividend tax at 15%, unless the rate is reduced in terms of any applicable agreement for the avoidance of double taxation (“DTA”) between South Africa and the country of residence of the non-resident shareholder. A reduced dividend withholding rate in terms of the applicable DTA may only be relied upon if the non-resident shareholder has provided the requisite documentation as detailed in paragraph 5 of the circular. Non-resident shareholders who have submitted the requisite documentation and assuming that a Dividend Tax rate of 15% is applicable, will accordingly receive a net dividend of 33.15 cents per share. The impact of dividend tax on shareholders has been illustrated by way of the example below: South Africa resident Non-resident shareholders subject shareholders exempt from to dividend tax at 15% dividend tax Dividend per share (cents) 39.00 39.00 Dividend tax per share (cents) (0.00000) (5.85) Total net dividend per share 39.00 33.15 Reinvestment price (R) 10.70 10.70 New shares issued per 100 shares 3.64486 3.09813 Due to the fact that the cash dividend or dividend reinvestment alternative may have tax implications for resident and non-resident shareholders, shareholders are encouraged to consult their professional advisors should they be in any doubt as to the appropriate action to take. Trading of Redefine shares Shareholders are advised that, as per the published timetable, the last date to trade is Friday, 22 May 2015 and the shares will trade ex-dividend on Monday, 25 May 2015. As published in the declaration announcement, shareholders electing the share alternative are once again alerted to the fact that the new shares will be listed on LDT + 3 and that these new shares can only be traded on LDT + 3 being Wednesday, 27 May 2015, due to the fact that settlement of the shares will be three days after the record date, being Wednesday, 3 June 2015, which differs from the conventional one day after record date settlement process. Shareholders are reminded that the last day to elect to receive the share alternative is 12:00 (South African time) on Friday, 29 May 2015. No action is required if you wish to receive the cash dividend. The salient dates, timetable and all other information relating to the dividend (including the tax implications) and share alternative disclosed in the declaration announcement remain unchanged. 15 May 2015 Corporate advisor and sponsor Java Capital Date: 15/05/2015 11:15:00 Produced by the JSE SENS Department. 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