Dealings in securities by an associate of a director of Equites EQUITES PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/080877/06) JSE share code: EQU ISIN: ZAE000188843 (Approved as a REIT by the JSE) (“Equites”) DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF EQUITES Shareholders are advised of the following information relating to dealings in securities by an associate of a director of Equites: Name of associate: Swish Property Eleven Proprietary Limited Name of director and relationship to director: Giancarlo Lanfranchi who is a trustee and beneficiary of the Skymax Trust, which owns 100% of Swish Property Eleven Proprietary Limited Transaction date: 5 December 2016 Class of securities: Ordinary shares Number of securities: 609 801 Highest traded price per security:* R15.10 Weighted average price per security: R15.00160 Lowest traded price per security:* R15.00 Total value: R9 147 990.68 Nature of transaction: On-market sale Nature and extent of directors’ interest: Indirect beneficial Name of associate: Swish Property Eleven Proprietary Limited Name of director and relationship to director: Giancarlo Lanfranchi who is a trustee and beneficiary of the Skymax Trust, which owns 100% of Swish Property Eleven Proprietary Limited Transaction date: 6 December 2016 Class of securities: Ordinary shares Number of securities: 1 000 400 Highest traded price per security:* R15.25 Weighted average price per security: R15.10010 Lowest traded price per security:* R14.61 Total value: R15 106 140.04 Nature of transaction: On-market sale Nature and extent of directors’ interest: Indirect beneficial Name of associate: Swish Property Eleven Proprietary Limited Name of director and relationship to director: Giancarlo Lanfranchi who is a trustee and beneficiary of the Skymax Trust, which owns 100% of Swish Property Eleven Proprietary Limited Transaction date: 8 December 2016 Class of securities: Ordinary shares Number of securities: 392 336 Highest traded price per security:* R15.10 Weighted average price per security: R15.06150 Lowest traded price per security:* R14.75 Total value: R5 909 168.66 Nature of transaction: On-market sale Nature and extent of directors’ interest: Indirect beneficial *Highest and lowest traded prices per security on the market on the day. 9 December 2016 Sponsor Java Capital Date: 09/12/2016 11:52:00 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.