Results of the Annual General Meeting held on 15 August 2016 INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Share Code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 15 AUGUST 2016 Shareholders are advised that at the 2016 Annual General Meeting (AGM) of Investec Property Fund Limited held on 15 August 2016, all the resolutions set out in the notice and proposed at the meeting were passed, without modification, by the requisite majority of shareholders. The resolutions were voted on as follows: % of issued Number share capital Total number of shares present/represented including proxies at 88% 618 546 576 meeting Votes in Votes Favour Against Abstentions Ordinary Resolution Number 1– Election of AR Wooler as a Director 615 109 267 1 800 3 435 509 99.99971% 0.00029% 0.49063% Ordinary Resolution Number 2 – Re-Election of LLM Giuricich as a Director 615 109 267 1 800 3 435 509 99.99971% 0.00029% 0.49063% Ordinary Resolution Number 3 – Re-Election of SR Leon as a Director 615 109 267 1 800 3 435 509 99.99971% 0.00029% 0.49063% Ordinary Resolution Number 4 – Re-Election of S Mahomed as a Director 606 776 055 8 335 012 3 435 509 98.64496% 1.35504% 0.49063% Ordinary Resolution Number 5 – Election of CM Mashaba as member of Audit and Risk 615 111 067 0 3 435 509 Committee 100% 0% 0.49063% Ordinary Resolution Number 6 – Election of MM Ngoasheng as member of Audit and Risk 615 111 067 0 3 435 509 Committee 100% 0% 0.49063% Ordinary Resolution Number 7 – Election of KL Shuenyane as member of Audit and Risk 615 111 067 0 3 435 509 Committee 100% 0% 0.49063% Ordinary Resolution Number 8 – Re-appointment of Ernst & Young as designated 615 111 067 0 3 435 509 auditors 100% 0% 0.49063% Ordinary Resolution Number 9 – Directors’ and Company Secretary Authority to take 615 111 067 0 3 435 509 action in respect of the resolutions approved by 100% 0% 0.49063% shareholders Ordinary Resolution Number 10 – Specific Authority to Directors to allot and issue shares 615 111 067 0 3 435 509 in relation to a DRIP 100% 0% 0.49063% Ordinary Resolution Number 11 – Directors’ authority to allot and issue 23.36% of 598 736 239 16 374 828 3 435 509 authorised but unissued shares 97.33791% 2.66209% 0.49063% Special Resolution Number 1 – Directors’ authority to allot and issue shares for cash in 603 078 076 12 032 991 3 435 509 respect of 5% of the shares in issue 98.04377% 1.95623% 0.49063% Special Resolution Number 2 – Directors’ general authority to acquire shares 614 782 106 328 961 3 435 509 99.94652% 0.05348% 0.49063% Special Resolution Number 3 – Directors’ remuneration 615 111 067 0 3 435 509 100% 0% 0.49063% Special Resolution Number 4 – Financial assistance to subsidiaries and other related 615 111 067 0 3 435 509 and inter-related entities 100% 0% 0.49063% The special resolutions, to the extent required, will be submitted for filing with the Companies and Intellectual Property Commission in due course. Investec Property Fund Limited Johannesburg 15 August 2016 Sponsor: Investec Bank Limited Date: 15/08/2016 12:10:00 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.