Fulfilment of all outstanding conditions precedent in respect of the proposed related part transaction REBOSIS PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2010/003468/06) JSE share code: REB ISIN: ZAE000201687 (Approved as a REIT by the JSE) (“Rebosis”) FULFILMENT OF ALL OUTSTANDING CONDITIONS PRECEDENT IN RESPECT OF THE PROPOSED RELATED PARTY TRANSACTION Shareholders are referred to the previous announcements released on SENS, the last of which was released on 3 October 2016, relating to the proposed transaction in terms of which Rebosis will acquire 100% shareholding in the companies described as Baywest, Forest Hill, Billion Asset Managers and Billion Property Services (“transaction”). Shareholders are advised that all conditions precedent pertaining to the transaction have now been fulfilled or waived, as the case may be. As such the transaction is unconditional. Shareholders are advised that the claw-back offer circular is progressing through the JSE approval process. A further announcement will be released on SENS at the appropriate time containing full details of the claw-back offer. 14 October 2016 Corporate advisor and sponsor Java Capital Corporate advisor and investment bank Nedbank CIB Legal advisor Cliffe Dekker Hofmeyr Date: 14/10/2016 03:40:00 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.