Dealing in securities by directors TEXTON PROPERTY FUND LIMITED Granted REIT status by the JSE (Incorporated in the Republic of South Africa) Registration number: 2005/019302/06 JSE code: TEX ISIN: ZAE000190542 (“Texton” or “the Company”) DEALING IN SECURITIES BY DIRECTORS In compliance with sections 3.63 to 3.65 of the Listings Requirements of the JSE Limited, the following information relating to the dealing in securities by a director of the Company is disclosed in relation to the acceptance of options under the Texton Share Incentive Scheme: Name of director: Angelique de Rauville Name of company: Texton Property Fund Limited Transaction date: 29 August 2016 Class of securities: Ordinary shares Number of shares: 4,644,782 Price per share: R11.31 Transaction value: R52,532,484.42 Nature of the transaction: Acceptance of share options at a strike price of R11.31 under the Texton Share Incentive Scheme (off market) Vesting period: The first tranche comprising of 1,059,336 shares will have the following vesting profile from the grant date of 29 August 2016: - 75% after three years; and - 25% after four years The second tranche comprising of 3,585,446 shares will have the following vesting profile from the grant date of 29 August 2016: - 75% after four years; and - 25% after five years Nature of interest: Direct, beneficial Clearance obtained: Yes Name of director: Nic Morris Name of company: Texton Property Fund Limited Transaction date: 29 August 2016 Class of securities: Ordinary shares Number of shares: 1,087,274 Price per share: R11.31 Transaction value: R12,297,070.07 Nature of the transaction: Acceptance of share options at a strike price of R11.31 under the Texton Share Incentive Scheme (off market) Vesting period: 75% after four years and 25% after five years from the grant date of 29 August 2016 Nature of interest: Direct, beneficial Clearance obtained: Yes Name of director: Brigitte de Bruyn Name of company: Texton Property Fund Limited Transaction date: 29 August 2016 Class of securities: Ordinary shares Number of shares: 2,444,623 Price per share: R11.31 Transaction value: R27,648,686.13 Nature of the transaction: Acceptance of share options at a strike price of R11.31 under the Texton Share Incentive Scheme (off market) Vesting period: 75% vesting on 28 February 2021 and 25% vesting on 28 February 2022 Nature of interest: Direct, beneficial Clearance obtained: Yes Hyde Park 1 September 2016 Investment Bank and Sponsor Investec Bank Limited Date: 01/09/2016 05:30:00 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.