Results for the Cash Distribution with the Election to Reinvest and Dealings in Securities SAFARI INVESTMENTS RSA LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/015002/06) Approved as a REIT by the JSE Limited Share code: SAR ISIN: ZAE000188280 (“Safari” or “the Company”) RESULTS FOR THE CASH DISTRIBUTION WITH THE ELECTION TO REINVEST AND DEALINGS IN SECURITIES A RESULTS Shareholders are referred to the SENS announcement dated 15 November 2016 advising shareholders that Safari had declared a gross cash distribution of 32 cents per share with the election to reinvest the cash distribution in return for Safari shares in the ratio of 4.21053 new Safari shares for every 100 Safari shares held (“Share Alternative”). Shareholders are hereby advised that the closing date for the Share Alternative was Friday, 9 December 2016. Accordingly, the table below sets out the results of the distribution and the number of shareholders who have elected to receive the Share Alternative: Number of Safari Number of new shares held by Safari shares to be shareholders issued Cash dividend 147 696 975 - Share Alternative 41 805 255 1 755 416 election Total 189 502 230 1 755 416 Accordingly, 1 755 416 new shares in Safari have been issued to shareholders that have elected to receive the Share Alternative. Share certificates in respect of the Share Alternative will be posted out to certificated shareholders on or about Wednesday, 14 December 2016, and EFT payments or cheques in respect of the cash dividend are in the process of being processed. The CSDP / broker accounts of shareholders holding dematerialised shares will be credited on Wednesday, 14 December 2016, according to the elections made for the Share Alternative. The CSDP / broker accounts of shareholders will be credited today, 12 December 2016 for the cash dividend elections. An adjustment to the maximum number of Share Alternative shares listed will be made on or about Thursday, 15 December 2016. B DEALINGS IN SECURITIES In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: Name of director FJJ Marais Status: Executive/Non- Executive executive Company of which I am a Safari Investments RSA Limited director Type of securities Shares Class of securities Ordinary Date of transactions 24 June 2016 (1) – (3) Cents per share 760 Number of securities 242 906 (1) transacted 125 000 (2) 238 496 (3) Total rand value of R 1 846 088 (1) securities R 950 000 (2) R 1 812 569 (3) Name of associate Safari Retail Proprietary Limited (1) Safarihold Proprietary Limited (2) MDM Architects CC (3) Relationship with The director is a director and a director shareholder of the associate (1) The director is a director and a shareholder of the associate (2) The director is a member and a shareholder of the associate (3) Nature of transactions Acquisition of shares by an associate of a director through the election to reinvest the cash distribution in Safari ordinary shares (Off-market transaction) Nature and extent of Indirect, beneficial interest in the transactions (1) – (3) transactions Clearance Obtained Yes 12 December 2016 Pretoria Sponsor PSG Capital Date: 12/12/2016 05:35:00 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.