Further Cautionary Announcement GREENBAY PROPERTIES LTD (Formerly known as Green Flash Properties Ltd) (Incorporated in the Republic of Mauritius on 14 August 2014) (Registration number C124756 C1/GBL) SEM share code: GFP.N0000 JSE share code: GRP ISIN: MU0461N00007 (“Greenbay” or “the company”) FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the company’s cautionary announcement released on the website of the Stock Exchange of Mauritius Ltd (“SEM”) and Stock Exchange News Services of the JSE Limited (“JSE”) on 22 November 2016 and are advised that Greenbay continues to progress its negotiations to acquire potentially material retail properties, in Europe. Accordingly, shareholders should continue to exercise caution in dealing in Greenbay securities. By order of the Board 9 January 2017 This notice is issued pursuant to SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board accepts full responsibility for the accuracy of the information in this announcement. The company has a primary listing on the SEM and a secondary listing on the AltX of the JSE. For further information please contact: JSE sponsor Java Capital Tel: +27 11 722 3050 SEM authorised representative and sponsor Perigeum Capital Tel: +230 402 0890 Company Secretary Intercontinental Trust Ltd Tel: +230 403 0800 Date: 09/01/2017 02:30:00 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.