Effective dates for Changes to the Board of Directors 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 1. INTRODUCTION Freedom shareholders (“Shareholders”) are referred to the SENS announcements released on 17 December 2015 and 14 January 2016 (‘Announcements”) regarding changes to the board of Freedom (“Board”). 2. RESIGNATIONS FROM THE BOARD Shareholders were advised in the Announcements that the following directors had resigned from the Board and that the effective date of such resignations would be announced in due course: - Mr. Sean Rule; and - Mr. WH (Billy) Rule. Shareholders are advised that the effective date of these resignations is 18 January 2016. Furthermore, Mr. Wayne Stocks has tendered his resignation, with effect from 18 January 2016, from the Board to enable himself to devote his full attention to his business interests. The Board, executive and staff wish to thank the outgoing Board members for their invaluable contributions to the Company and wish them well in their future endeavours. Johannesburg 20 January 2016 Sponsor KPMG Service Proprietary Limited Date: 20/01/2016 04:50:00 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.