Results For The Cash Distribution With The Election To Reinvest And Dealings In Securities SAFARI INVESTMENTS RSA LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/015002/06) Approved as a REIT by the JSE Limited Share code: SAR ISIN: ZAE000188280 (“Safari” or “the Company”) RESULTS FOR THE CASH DISTRIBUTION WITH THE ELECTION TO REINVEST AND DEALINGS IN SECURITIES A) RESULTS Shareholders are referred to the SENS announcement dated 31 May 2016, whereby shareholders were advised that Safari had declared a gross cash distribution of 32 cents per share with the election to reinvest the cash distribution in return for Safari shares in the ratio of 4.00 new Safari shares for every 100 Safari shares held (“Share Alternative”). Shareholders are hereby advised that the closing date for the Share Alternative was Friday, 24 June 2016. Accordingly, the table below sets out the results of the distribution and the number of shareholders who have elected to receive the Share Alternative: Number of Safari shares held Number of new Safari shares by shareholders to be issued Cash dividend 163 651 100 - Share Alternative election 18 531 219 740 964 Total 182 182 319 740 964 Accordingly, 740 964 new shares in Safari have been issued to shareholders that have elected to receive the Share Alternative. Share certificates in respect of the Share Alternative will be posted out to certificated shareholders on or about Wednesday, 29 June 2016, and EFT payments or cheques in respect of the cash dividend are in the process of being processed. The CSDP / broker accounts of shareholders holding dematerialised shares will be credited on Wednesday, 29 June 2016, according to the elections made for the Share Alternative. The CSDP / broker accounts of shareholders will be credited today, 27 June 2016 for the cash dividend elections. An adjustment to the maximum number of Share Alternative shares listed will be made on or about Friday, 1 July 2016. B) DEALINGS IN SECURITIES In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: 1. Name of director JZ Engelbrecht Status: Executive/Non-executive Executive Company of which I am a director Safari Investments RSA Limited Type of securities Shares Class of securities Ordinary Date of transaction 24 June 2016 Cents per share 800 Number of securities transacted 1 195 Total rand value of securities R9 560.00 Nature of transaction Acquisition of shares by a director through the election to reinvest the cash distribution in Safari ordinary shares (Off-market transaction) Nature and extent of interest in the Direct, beneficial transaction Clearance obtained Yes 2. Name of director FJJ Marais Status: Executive/Non-executive Executive Company of which I am a director Safari Investments RSA Limited Type of securities Shares Class of securities Ordinary Date of transactions 24 June 2016 (1) – (3) Cents per share 800 (1) – (3) Number of securities transacted 2 464 (1) 256 000 (2) 30 735 (3) Total rand value of securities R19 712.00 (1) R2 048 000.00 (2) R245 880.00 (3) Name of associate Safari Retail Proprietary Limited (1) Safarihold Proprietary Limited (2) MDM Architects CC (3) Relationship with director The director is a director and a shareholder of (1) the associate The director is a director and a shareholder of (2) the associate The director is a member and a shareholder of (3) the associate Nature of transactions Acquisition of shares by an associate of a (1) – (3) director through the election to reinvest the cash distribution in Safari ordinary shares (Off-market transaction) Nature and extent of interest in the Indirect, beneficial transactions (1) - (3) Clearance Obtained Yes 27 June 2016 Pretoria Sponsor PSG Capital Date: 27/06/2016 02:30:00 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.