Further cautionary announcements in respect of the relisting of the Ascension B shares and the proposed acquisition ASCENSION PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/026141/06) JSE share code: AIA ISIN: ZAE000204566 (Approved as a REIT by the JSE) (“Ascension” or “the company”) FURTHER CAUTIONARY ANNOUNCEMENTS IN RESPECT OF THE RELISTING OF THE ASCENSION B SHARES AND IN RESPECT OF THE PROPOSED ACQUISITION Shareholders are referred to the cautionary announcements released on SENS in respect of the proposed relisting of the Ascension B shares and the proposed acquisition, the last of which was released on SENS on 28 September 2016 as well as the joint firm intention announcement released on SENS on 27 October 2016, advising shareholders of Rebosis Property Fund Limited’s (“Rebosis”) firm intention to acquire all of the Ascension A ordinary shares it does not already own in exchange for Rebosis A ordinary shares, by scheme of arrangement (the “A share scheme”). The A share scheme will be subject to certain suspensive conditions. Should these suspensive conditions be fulfilled and the A share scheme implemented, the Ascension A shares will be delisted and Ascension will accordingly not proceed with the relisting of the Ascension B shares. However, in the event that the A share scheme is not implemented, Ascension intends to proceed with the relisting of the Ascension B shares. Ascension remains in the advanced stages of negotiation with Mutodo Properties Proprietary Limited to acquire a property letting enterprise (together with the property situated at 66 Jorrisen Street, Johannesburg), which acquisition, should same be agreed, may have a material effect on the price of the company’s securities. If the A share scheme becomes unconditional, part of the consideration payable for the acquisition will be settled by the allotment and issue of Ascension A ordinary shares before the implementation of the A share scheme. Should the A share scheme not be implemented, the acquisition is, as previously stated, intended to facilitate Ascension achieving sufficient shareholder spread in Ascension’s B shares in order to relist the Ascension B shares. The acquisition will constitute a category 2 transaction for the purposes of the JSE Listings Requirements. Upon binding transaction agreements being executed a full announcement regarding the acquisition will be made. Ascension A shareholders are advised to continue to exercise caution when dealing in the company’s securities until a further announcement in this regard is made. 9 November 2016 Sponsor Java Capital Date: 09/11/2016 02:58:00 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.