Notification Of Major Interest In Shares SIRIUS REAL ESTATE LIMITED (Incorporated in Guernsey) Company Number: 46442 Share Code: SRE ISIN Code: ISIN GG00B1W3VF54 For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are SIRIUS REAL ESTATE LIMITED attached: ii 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the KAROO INVESTMENT FUND SCA SICAV SIF notification obligation: iii 4. Full name of shareholder(s) KAROO INVESTMENT FUND SCA SICAV SIF (if different from 3.):iv 5. Date of the transaction and date on which the threshold is crossed or 28 June 2016 reached: v 6. Date on which issuer notified: 28 June 2016 7. Threshold(s) that is/are crossed or Below 3% reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type of Situation previous Resulting situation after the triggering transaction shares to the triggering transaction if possible using Number Number Number Number of voting % of voting rights x the ISIN CODE of of of shares rights Shares Voting Indirect Direct Direct xi Direct Indirect Rights xii GG00B1W3VF54 63,339,123 63,339,123 11,245,979 11,245,979 1.35% B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of voting instrument date xiii Conversion Period xiv rights that may be rights acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of financial Exercise Expiration Exercise/ Number of voting rights % of voting rights xix, instrument price date xvii Conversion instrument refers to xx period xviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 11,245,979 1.35% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: The Karoo Investment Fund returned 62,271,183 Sirius 13. Additional information: Real Estate Limited (the “Company”) shares to its shareholders by way of a distribution-in-kind on 24 June 2016. At the same time, the Fund converted the €5 million convertible loan note issued by the Company held by the Fund for 22,814,731 shares. On 28 June 2016 the Fund sold 12 million shares. 14. Contact name: Charl Cloete at Clearance Capital LLP 15. Contact telephone number: +44 203 0027 685 Note: Annex should only be submitted to the FCA not the issuer Annex: Notification of major interests in shares xxii A: Identity of the persons or legal entity subject to the notification obligation Full name (including legal form of legal entities) KAROO INVESTMENT FUND SCA SICAV SIF Contact address 20 BOULEVARD E. SERVAIS (registered office for legal entities) L-2535 LUXEMBOURG GRAND DUCHY OF LUXEMBOURG Phone number & email +44 203 0027685 ccloete@clearancecap.com Other useful information (at least legal representative for legal persons) B: Identity of the notifier, if applicable Full name Charl Cloete Contact address Clearance Capital LLP 26 Throgmorton Street London EC2N 2AN Phone number & email +44 203 0027685 ccloete@clearancecap.com Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation) C: Additional information For notes on how to complete form TR-1 please see the FCA website. 29 June 2016 JSE Sponsor: PSG Capital Proprietary Limited Date: 29/06/2016 11:00:00 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.