Dealing in securities by directors and the company secretary SA Corporate Real Estate Limited (Incorporated in the Republic of South Africa) (Registration number 2015/015578/06) (Approved as a REIT by the JSE Limited) Share Code: SAC ISIN: ZAE000203238 (“SA Corporate” or the “Company”) NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN RESPECT OF WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, OF THIS ANNOUNCEMENT WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION OR IN RESPECT OF WHICH THE OFFERING CONTEMPLATED BY THIS ANNOUNCEMENT IS UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO PURCHASE, OTHERWISE ACQUIRE, SUBSCRIBE FOR, SELL, OTHERWISE DISPOSE OF OR PURCHASE ANY SECURITY IN ANY JURISDICTION. In compliance with the Listings Requirements of the JSE Limited, the following directors and company secretary of SA Corporate, elected to follow their rights to subscribe for new SA Corporate ordinary shares, as detailed below, pursuant to the rights offer by SA Corporate, the terms of which were announced on SENS on 13 November 2015 and further detailed in the circular to shareholders dated 24 November 2015. The rights offer by SA Corporate is in respect of 263,141,113 new SA Corporate ordinary shares (“rights offer shares”) offered to SA Corporate shareholders recorded in SA Corporate’s share register at the close of business on Friday, 27 November 2015, at a subscription price of 457 cents per rights offer share, in the ratio of 13.00 rights offer shares for every 100 SA Corporate ordinary shares held. The rights offer closed on Friday, 11 December 2015. Name of director : Mr TR Mackey Company : SA Corporate Limited Nature of transaction : Off-market purchase of shares in terms of the rights issue Number of securities : 475 902 Class of securities : Ordinary shares offered in terms of the rights issue Total value of transaction : R2 174 872.14 Nature of interest : Indirect beneficial: 447 301 shares Direct beneficial: 28 601 shares Name of director : Mrs AM Basson Company : SA Corporate Limited Nature of transaction : Off-market purchase of shares in terms of the rights issue Number of securities : 55 000 Class of securities : Ordinary shares offered in terms of the rights issue Total value of transaction : R251 350.00 Nature of interest : Direct beneficial Name of director : Mr J Molobela Company : SA Corporate Limited Nature of transaction : Off-market purchase of shares in terms of the rights issue Number of securities : 5 881 Class of securities : Ordinary shares offered in terms of the rights issue Total value of transaction : R26 876.17 Nature of interest : Direct beneficial Name of director : Mr KJ Forbes Company : SA Corporate Limited Nature of transaction : Off-market purchase of shares in terms of the rights issue Number of securities : 44 000 Class of securities : Ordinary shares offered in terms of the rights issue Total value of transaction : R201 080.00 Nature of interest : Direct beneficial Name of director : Mr RJ Biesman-Simons Company : SA Corporate Limited Nature of transaction : Off-market purchase of shares in terms of the rights issue Number of securities : 6 500 Class of securities : Ordinary shares offered in terms of the rights issue Total value of transaction : R29 705.00 Nature of interest : Indirect beneficial Name of director : Mr ES Seedat Company : SA Corporate Limited Nature of transaction : Off-market purchase of shares in terms of the rights issue Number of securities : 2 860 Class of securities : Ordinary shares offered in terms of the rights issue Total value of transaction : R13 070.20 Nature of interest : Direct beneficial Name of company secretary : Mr B Swanepoel Company : SA Corporate Limited Nature of transaction : Off-market purchase of shares in terms of the rights issue Number of securities : 26 985 Class of securities : Ordinary shares offered in terms of the rights issue Total value of transaction : R123 321.45 Nature of interest : Direct beneficial Clearance to deal was obtained for the above transactions. Johannesburg 14 December 2015 Joint bookrunner, financial advisor and transaction sponsor Absa Bank Limited (acting through its Corporate and Investment Banking Division) Joint bookrunner, financial advisor and transaction sponsor The Corporate Finance division of Investec Bank Limited Legal adviser Cliffe Dekker Hofmeyr Inc. Sponsor Nedbank Corporate and Investment Banking Date: 14/12/2015 03:57:00 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. 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