Issue By Redefine Of Eur 150 Million Secured Bonds Exchangeable Into Shares Of Redefine International Plc REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/018591/06) JSE share code: RDF ISIN: ZAE000190252 (Approved as a REIT by the JSE) (“Redefine” or the “company”) ISSUE BY REDEFINE OF EUR 150 MILLION SECURED BONDS EXCHANGEABLE INTO SHARES OF REDEFINE INTERNATIONAL PLC Shareholders are advised that Redefine has successfully placed secured bonds (the “Bonds”) with a principal amount of EUR 150 million, exchangeable into ordinary shares (the “RIPLC Shares”) of Redefine International P.L.C. (“RIPLC”), the proceeds of which will be used to partially refinance debt raised by Redefine on its acquisition of its shareholding in Echo Polska Properties N.V. The Bonds will be issued with a coupon of 1.50%, payable semi-annually in arrear. The initial exchange price of the Bonds will be set at an exchange premium of 26.25% to a reference price (the “Reference Price”) determined as the euro-equivalent of the arithmetic average of the daily volume weighted average prices of a RIPLC Share listed on the London Stock Exchange plc (the “LSE”) on each of the five scheduled trading days commencing on (and including) 5 September 2016, such Reference Price being subject to a floor of EUR 0.45673 and a cap of EUR 0.51902. The Reference Price, the initial exchange price and the initial exchange ratio will be announced by Redefine on or around 9 September 2016. The Bonds will be issued at 100% of their principal amount and, unless previously exchanged, redeemed, or repurchased and cancelled, will be redeemed at par (subject to the Redefine’s settlement option referred to below) on 16 September 2021. Holders of the Bonds will have the option to require an early redemption of their Bonds on the third anniversary of the issue date, at their principal amount, together with accrued interest. Upon exchange Redefine will have the flexibility to settle in cash, deliver the underlying RIPLC Shares or any combination thereof. J.P. Morgan Securities plc acted as Sole Bookrunner on the transaction. Further details of the terms and conditions of the Bonds are contained in the press releases available on Redefine’s website, www.redefine.co.za. 6 September 2016 Sponsor Java Capital Date: 06/09/2016 07:30:00 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.