Announcement relating to Property Acquisition, transfer of properties and increase in voting control 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) Announcement relating to Property Acquisition, transfer of properties and increase in voting control Shareholders are referred to the announcement dated 20 November 2014 in terms of which shareholders were advised that Accelerate had agreed terms with relevant vendors for the Property Acquisitions. *Defined terms in the 20 November announcement apply similarly to this announcement. Shareholders are accordingly provided with the following updates in relation to the Property Acquisitions: a) 3 properties that formed part of Portfolio 1 have been transferred to Accelerate and 15 962 251 Accelerate ordinary shares have been issued to the Portfolio 1 vendors; b) Mr. Georgiou and the Portfolio 1 vendors have entered into a voting pool agreement and will vote as a block; and c) As a result of the issue of shares to the Portfolio 1 vendors, the shares under the control of the voting pool will increase to 36.4% and, accordingly, there is no change in control of Accelerate. Fourways 9 November 2015 Sponsor The Standard Bank of South Africa Limited Legal advisors Glyn Marais Inc. Date: 09/12/2015 02:50:00 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.