EPFC23-New Instrument Listing Emira Property Fund Limited (Incorporated in the Republic of South Africa) (Registration number 2014/130842/06) Company code: BIEPF (Approved as a REIT by the JSE) ISIN EPFC23: ZAG000133794 (“Emira”) LISTING OF NEW FINANCIAL INSTRUMENT The JSE Limited has granted Emira the listing of its EPFC23 Senior Unsecured Notes, in terms of its ZAR5,000,000,000 Domestic Medium Term Note Programme dated 1 July 2015. Total Notes in Issue: R 2,774,000,000.00 excluding this issuance of Notes INSTRUMENT TYPE: Fixed Rate Notes Instrument Code: EPFC23 Nominal Issued: R30,000,000.00 Issue Price: 100% Interest Rate: 8.125% Coupon Rate Indicator: Fixed Rate Issue Date: 22 February 2016 Interest Commencement Date: 22 February 2016 Maturity Date: 22 August 2016 Last day to Register: By 17h00 on 11 August 2016 Books Close: 12 August 2016 Interest Payment Date: 22 August 2016 ISIN: ZAG000133794 Business Day Convention: Following Business Day Dealer: Rand Merchant Bank, a division of FirstRand Bank Limited The Notes will be immobilised in the Central Depository (“CSD”) and settlement will take place electronically in terms of JSE Rules. 19 February 2016 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 19/02/2016 03:38:00 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.