Dealings in securities by directors INVESTEC AUSTRALIA PROPERTY FUND Incorporated and registered in Australia in terms of ASIC (ARSN 162 067 736) Registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act No. 45 of 2003 and operated by Investec Property Limited (ACN 071 514 246; AFSL 290 909) (“Responsible Entity”) Share code: IAP ISIN: AU60INL00018 (“IAPF” or “the Fund”) DEALINGS IN SECURITIES BY DIRECTORS Unitholders are advised that pursuant to the Rights Offer undertaken by IAPF, which closed on Friday, 19 February 2016, directors of IAPF have followed their rights, as a result of which they have purchased the number of units indicated against their names below: Name of director: G Katz Transaction date: 22 February 2016 Class of securities: Units Number of securities: 12,000 Price per security: R11.58 Total value of transaction: R138,960.00 Nature of transaction: Purchase in terms of rights offer Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: S Leon Transaction date: 22 February 2016 Class of securities: Units Number of securities: 685,968 Price per security: R11.58 Total value of transaction: R7,943,509.44 Nature of transaction: Purchase in terms of rights offer Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Johannesburg 22 February 2016 Investment Bank and Sponsor Investec Bank Limited Date: 22/02/2016 03:11:00 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.