Directors' dealings in securities Accelerate Property Fund Limited Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration number 2005/015057/06) Share code: APF ISIN: ZAE000185815 (“Accelerate”) DEALING IN SECURITIES BY DIRECTORS In compliance with sections 3.63 to 3.74 of the JSE Listings Requirements, as a result of Accelerate directors participating in the private placement of Accelerate shares announced on the Stock Exchange News Service on 7 December 2016, shareholders are advised of the following dealings by directors: Name of director: Andrew Costa Nature of transaction: Delivery of Accelerate ordinary shares following the private placement of Accelerate shares Number of shares: 17,213,114 Date of transaction: 8 December 2016 Price per share: R6.10 Total value of the transaction: R104,999,995.40 Nature of the transaction: Off-market Nature of interest: Indirect beneficial Clearance to deal obtained: Yes Name of director: John Paterson Nature of transaction: Delivery of Accelerate ordinary shares following the private placement of Accelerate shares Number of shares: 4,237,705 Date of transaction: 8 December 2016 Price per share: R6.10 Total value of the transaction: R25,850,000.50 Nature of the transaction: Off-market Nature of interest: Indirect beneficial Clearance to deal obtained: Yes Name of director: Michael Georgiou Nature of transaction: Delivery of Accelerate ordinary shares following the private placement of Accelerate shares Number of shares: 20,491,803 Date of transaction: 8 December 2016 Price per share: R6.10 Total value of the transaction: R124,999,998.30 Nature of the transaction: Off-market Nature of interest: Indirect beneficial Clearance to deal obtained: Yes Fourways 8 December 2016 Investment Bank and Transaction Sponsor Investec Bank Limited Sponsor The Standard Bank of South Africa Limited Date: 08/12/2016 01:15:00 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.