Disposal of non-core properties and update on the acquisition of the Blend Portfolio TEXTON PROPERTY FUND LIMITED Granted REIT status by the JSE (Incorporated in the Republic of South Africa) (Registration number 2005/019302/06) JSE code: TEX ISIN: ZAE000190542 (“Texton” or “the Company”) DISPOSAL OF NON-CORE PROPERTIES AND UPDATE ON THE BLEND ACQUISITION 1. DISPOSAL OF NON-CORE PROPERTIES Shareholders are advised that, in line with its stated strategy of disposing of non-core properties, Texton has successfully disposed of the following properties to various vendors (the “Disposals”): Property name Sector GLA (m2) Date of transfer Cost price Sales price (R’000) (R’000) Vodacom Park & Office / Linger Longer Retail 5 698 26 September 2016 49 300 71 000 (1) Perseus Park Office 3 837 16 November 2016 60 700 61 900 Murrayfield Forum Office 1 417 08 December 2016 6 700 3 500 Standard Bank Randburg Office 8 144 15 December 2016 24 500 27 000 Total 29 096 141 200 163 400 (1) The sales price is the combined price for both the Vodacom properties. Each of the disposals represents less than 5% of Texton’s market capitalisation in terms of the Listings Requirements of the JSE, and, accordingly, the disclosure contained in paragraph 1 of this announcement is voluntary. 2. UPDATE ON THE BLEND ACQUISITION Shareholders are referred to the announcement released on SENS on 17 August 2016 (the “Revised Announcement”) relating to the acquisition of two property portfolios in South Africa and in the United Kingdom (collectively, the “Blend Acquisition”). Texton successfully completed the acquisition of the Heapham Road and Mowbray House properties, both located in the UK. The combined purchase consideration for the two properties was R279.35 million and paid in cash utilising a 5-year term pound sterling facility fixed at an all-in rate of 2.49%. Pursuant to discussions with the vendor of the Blend portfolio, the agreement to acquire the 2 office properties located in Bedfordview, South Africa, being 18 Skeen Boulevard and 16 Skeen Boulevard, has been cancelled. Hyde Park 14 December 2016 Corporate advisor and sponsor Investec Bank Limited Date: 14/12/2016 05:02:00 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.