Results of dividend re-investment alternative VUKILE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/027194/06) JSE share code: VKE NSX share code: VKN ISIN: ZAE000180865 (Granted REIT status with the JSE) (“Vukile” or “the company”) RESULTS OF DIVIDEND RE-INVESTMENT ALTERNATIVE Shareholders are referred to the declaration of an interim cash dividend of 67.64754 cents per share (the “cash dividend”) with an election to reinvest the dividend in return for Vukile shares (the “share alternative”) announced on SENS on Thursday, 24 November 2016 for the six months ended 30 September 2016 and the announcement of the re-investment price per new share (being R17.19000 per share) applicable to Vukile shareholders electing the share alternative released on SENS on Monday, 5 December 2016. Shareholders holding 290 097 182 Vukile shares or 42% of Vukile shares (prior to the election) qualifying to receive the cash dividend elected to receive the share alternative, resulting in the issue of 11 242 114 new Vukile shares, retaining R193 251 936.66 (based on the issue price of R17.19 per new share after accounting for the applicable dividend withholding tax in respect of non-resident shareholders) in new equity for Vukile. Accordingly, a total cash dividend of R270 959 675.22 is payable today in respect of 400 546 236 Vukile shares. The Central Securities Depository Participants or broker custody accounts of dematerialised shareholders who did not elect the share alternative in respect of some or all of their shares will be credited with the cash dividend on Monday. 19 December 2016 and the Central Securities Depository Participants or broker custody accounts of dematerialised shareholders who did elect the share alternative in respect of some or all of their shares will be credited on Wednesday, 21 December 2016 with their new Vukile shares. 19 December 2016 Corporate advisor and sponsor Java Capital Date: 19/12/2016 05:00:00 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.