Effective dates for changes to the Board of Directors and Appointment of CEO Freedom Property Fund Limited (Incorporated in the Republic of South Africa) (Registration number: 2012/129186/06) Share code: FDP ISIN: ZAE000185260 (“Freedom” or “the Company”) EFFECTIVE DATES FOR CHANGES TO THE BOARD OF DIRECTORS AND APPOINTMENT OF CEO 1. INTRODUCTION Freedom shareholders (“Shareholders”) are referred to the SENS announcements released on 17 December 2015 regarding the appointment of directors to the board of Freedom (“Board”) subject to all procedures, background checks and qualification checks being completed. 2. APPOINTMENTS TO THE BOARD Freedom now advises Shareholders that the abovementioned checks have been completed and that the following members have been appointed to the Board with immediate effect. - Mr. Steven Maritz – Chief Executive Officer - Mr. Hugo Amos Lambrechts – Non-Executive Director - Miss. Dominique Nel –Executive Director and Alternate Financial Director - Mr. Nicolaas Johannes Retief – Independent Non-Executive Director The composition and membership of the Board committees will be advised at a later stage. The Freedom Board welcomes the appointment of the above directors and looks forward to their invaluable contributions. A further announcement detailing the resignation dates of the Directors that will be stepping down, as per the previous announcement of 17 December 2015, will be released in due course. Johannesburg 14 January 2016 Sponsor KPMG Service Proprietary Limited Date: 14/01/2016 01:55:00 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.