Results of Annual General Meeting 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 5 November 2015, shareholders are advised that at the general meeting of Orion held on 25 November 2015, 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 595 437 488 Total issued number of ordinary shares 630 698 688 Percentage of ordinary shares represented at the meeting 94.41% 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: 595 437 488 Nil Nil 595 437 488 Auditor’s Report 100% Ordinary resolution number 2: 595 437 488 Nil Nil 595 437 488 Adoption of Annual Financial Statements 100% Ordinary resolution number 3: 595 437 488 Nil Nil 595 437 488 Re-election of MR MDK MTHEMBU 100% Special resolution number 1: 595 437 488 Nil Nil 595 437 488 Remuneration of non-executive directors 100% Special Resolution number 2: 595 437 488 Nil Nil 595 437 488 Financial assistance in terms of section 45 100% of the Companies Act 71 OF 2008, as amended Ordinary resolution number 4: 595 437 488 Nil Nil 595 437 488 Re-appointment of auditors 100% Ordinary resolution number 5: 595 437 488 Nil Nil 595 437 488 Appointment of MR MDK MTHEMBU to the 100% Audit Committee Ordinary resolution number 6: 595 437 488 Nil Nil 595 437 488 Appointment of MR R S WILKINSON to the 100% Audit Committee Ordinary Resolution number 7: 595 437 488 Nil Nil 595 437 488 Non-binding advisory vote on the 100% Company’s remuneration policy Ordinary Resolution number 8: 595 437 488 Nil Nil 595 437 488 Authority to issue shares. Not applicable 100% to issues of shares for cash By order of the board Johannesburg 2 December 2015 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 02/12/2015 03:36:00 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.