SYCOM/GROWTHPOINT/Acucap - Issue of Growthpoint ordinary shares Sycom Property Fund Growthpoint Properties Acucap Properties Limited Approved as a REIT by the Limited A wholly-owned Subsidiary of JSE Approved as a REIT by the Growthpoint A Collective Investment JSE Incorporated in the Republic of Scheme in Property Incorporated in the Republic South Africa Registered in terms of the of South Africa (Registration number Collective Investment (Registration number 2001/021725/06) Schemes 1987/004988/06) (“Acucap”) Control Act, No. 45 of 2002 Share code: GRT (“CISCA”) ISIN ZAE000179420 Managed by (“Growthpoint”) Sycom Property Fund Managers Limited (“SPFM”) (Registration number 1986/002756/06) Share code: SYC ISIN: ZAE000019303 (“Sycom”) ISSUE OF GROWTHPOINT ORDINARY SHARES With reference to the joint Finalisation Announcement released on 1 April 2016, relating to the various corporate actions undertaken by Growthpoint, Acucap and Sycom since March 2014 and which will culminate in the following indivisible transaction: - Growthpoint, through its subsidiary, Acucap, acquiring the assets and liabilities of Sycom; - Sycom unitholders (other than Growthpoint and its subsidiaries) becoming Growthpoint shareholders; and - Sycom’s listing on the JSE being terminated and, in time, Sycom being wound-up, Growthpoint will, on 18 April 2016, allot and issue 2 392 861 new ordinary shares at the closing price per Growthpoint share on 8 April 2016, that is R24.10 per share, which shares are expected to be listed on the JSE with effect from 11 April 2016. Johannesburg 8 April 2016 Sole Corporate Advisor to Growthpoint Sole Transaction Sponsor to Growthpoint and Sycom and Sponsor to Sycom Questco Questco Investment Bank and Sponsor to Growthpoint Investec Bank Date: 08/04/2016 05:50:00 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.