Dealings in securities by directors Accelerate Property Fund Limited Incorporated in the Republic of South Africa Registration number 2005/015057/06 Share code: APF ISIN: ZAE000185815 (“Accelerate” or “the Company”) (Approved as a REIT by the JSE) Dealings in Securities by Directors In compliance with section 3.63 to 3.74 of the Listings Requirements of the JSE Limited, shareholders are advised of the following dealings by directors of the Company: 1. Vesting of Retention Shares The information relating to the vesting of Retention Shares awarded under the Accelerate Conditional Share Plan (“CSP”), in accordance with the rules of the CSP, is set out below: Name of director: Dimitri Kyriakides Nature of transaction: Delivery of Accelerate ordinary shares following the vesting of rights granted in terms of the CSP Number of shares: 47 161 Date of transaction: 17 September 2015 Price per share: 536 cents Total value of the transaction: R 252 782,96 Nature of transaction: Off-market Nature of interest: Direct beneficial Clearance to deal obtained: Yes Name of director: Andrew Costa Nature of transaction: Delivery of Accelerate ordinary shares following the vesting of rights granted in terms of the CSP Date of transaction: 17 September 2015 Number of shares: 78 329 Price per share: 536 cents Total value of the transaction: R 419 843,44 Nature of transaction: Off-market Nature of interest: Indirect beneficial Clearance to deal obtained: Yes Name of director: John Paterson Nature of transaction: Delivery of Accelerate ordinary shares following the vesting of rights granted in terms of the CSP Date of transaction: 17 September 2015 Number of shares: 65 275 Price per share: 536 cents Total value of the transaction: R 349 874,00 Nature of transaction: Off-market Nature of interest: Direct beneficial Clearance to deal obtained: Yes 2. Grant and Acceptance of Awards by Directors Shareholders are here by advised of the information pertaining to the award (“the Award”) and acceptance thereof, by executive directors of the Company, of conditional rights to ordinary shares in the share capital of Accelerate (“Shares”) in terms of the rules of the CSP. The Award comprises: - conditional rights to Shares, the vesting of which is subject to the fulfilment of the employment condition, as specified in the award letter (“Retention Shares); and - conditional rights to Shares, the vesting of which is subject to the fulfilment of the employment condition and performance condition(s) as specified in the award letter (“Performance Shares”). Name of director: Michael Georgiou Name of company: Accelerate Property Fund Limited Nature of transaction: Off-market acceptance of an award of conditional Performance Shares and Retention Shares Date of acceptance of award: 22 September 2015 Number of shares: 201 244 Retention Shares (Vesting date: 1 April 2018) 824 770 Performance Shares (Vesting date: 1 April 2018) Class of shares: Ordinary shares Price per share: N/A Total value of the N/A transaction: Extent of interest: Indirect beneficial Name of director: Dimitri Kyriakides Name of company: Accelerate Property Fund Limited Nature of transaction: Off-market acceptance of an award of conditional Performance Shares Date of acceptance of 22 September 2015 award: Number of shares: Allocation of 346 403 Performance Shares (Vesting date: 1 April 2018) Class of shares: Ordinary shares Price per share: N/A Total value of the N/A transaction: Extent of interest: Direct beneficial Name of director: Andrew Costa Name of company: Accelerate Property Fund Limited Nature of transaction: Off-market acceptance of an award of conditional Performance Shares and Retention Shares Date of acceptance of 22 September 2015 award: Number of shares: 201 244 Retention Shares (Vesting date: 1 April 2018) 824 770 Performance Shares (Vesting date: 1 April 2018) Class of shares: Ordinary shares Price per share: N/A Total value of the N/A transaction: Extent of interest: Indirect beneficial Name of director: John Paterson Name of company: Accelerate Property Fund Limited Nature of transaction: Off-market acceptance of an award of conditional Performance Shares and Retention Shares Date of acceptance of 22 September 2015 award: Number of shares: 150 933 Retention Shares (Vesting date: 1 April 2018) 412 385 Performance Shares (Vesting date: 1 April 2018) Class of shares: Ordinary shares Price per share: N/A Total value of the N/A transaction: Extent of interest: Indirect beneficial Clearance for these transactions was provided in terms of section 3.66 of the Listings Requirements. Fourways 22 September 2015 Sponsor The Standard Bank of South Africa Limited Date: 22/09/2015 03:00:00 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.