Accelerated Book Build HYPROP INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/005284/06) JSE share code: HYP ISIN: ZAE000190724 (Approved as a REIT by the JSE) (“Hyprop” or “the company”) ACCELERATED BOOK BUILD NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO Subject to pricing acceptable to Hyprop, the company proposes an equity raising of approximately R500 million (the “equity raise”) through the issue of new Hyprop ordinary shares. The equity raise will be implemented through an accelerated book build process (the “book build”). The book build is now open and the company reserves the right to close it at any time hereafter. Pricing, allocations and the amount raised will be announced as soon as practicable following the closing of the book build. The equity raise will be completed under the company’s authority to issue shares for cash and thus only public shareholders (as defined within the JSE Listings Requirements) may participate in the equity raise. Hyprop is in a closed period pending the release of its annual results for the year ended 30 June 2016 on or about 2 September 2016. Hyprop confirms that the earnings guidance for the year ended 30 June 2016, issued on 3 March 2016, remains unchanged. Java Capital is acting as sole bookrunner. Java Capital contact details: Warren Lawlor Kevin Joselowitz Travis Green Hyprop@javacapital.co.za Hyprop@javacapital.co.za Hyprop@javacapital.co.za Tel: (011) 722 3053 Tel: (011) 722 3075 Tel: (011) 722 3055 28 July 2016 Bookrunner and sponsor Java Capital Date: 28/07/2016 08:30:00 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.