Clarification Announcement: Dealings in securities by an Associate of a Director 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”) CLARIFICATION ANNOUNCEMENT: DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR Shareholders are referred to the announcement published by the Company on 12 December 2016 (“Announcement”) in terms of which shareholders were advised of the results for the cash distribution with the election to reinvest as well as a directors dealings announcement. Further to the publication of the aforementioned SENS announcement shareholders are hereby advised that the directors dealing through Safarihold Proprietary Limited (“Safarihold”) was incorrectly stated. The details of the Safarihold directors dealing are: 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 12 December 2016 Cents per share 760 Number of securities 5 263 transacted Total rand value of R 39 998.80 securities Name of associate Safarihold Proprietary Limited Relationship with The director is a director and a director shareholder of the associate 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 transactions Clearance Obtained Yes 15 December 2016 Pretoria Sponsor PSG Capital Date: 15/12/2016 04:05:00 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.