Dealings in securities by directors of Equites EQUITES PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/080877/06) JSE share code: EQU ISIN: ZAE000188843 (Approved as a REIT by the JSE) (“Equites” or “the Company”) DEALINGS IN SECURITIES BY DIRECTORS OF EQUITES Shareholders are advised of the following information relating to the acceptance of conditional awards of Equites shares by directors of Equites granted in terms of the rules of the Company’s approved Conditional Share Plan (“CSP”) on the basis set out below: Name of director: Andrea Taverna-Turisan Date of transaction: 20 February 2017 Class of securities: Ordinary shares Number of conditional awards: 164 997 Award price per security: R15.97 Total value of transaction: R2 635 002.09 Vesting period: Three years and 3 months and 7 days from date of acceptance Nature of transaction: Off-market acceptance of conditional awards in terms of the CSP Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Bram Goossens Date of transaction: 20 February 2017 Class of securities: Ordinary shares Number of conditional awards: 115 216 Award price per security: R15.97 Total value of transaction: R1 839 999.52 Vesting period: Three years and 3 months and 7 days from date of acceptance Nature of transaction: Off-market acceptance of conditional awards in terms of the CSP Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Riaan Gous Date of transaction: 20 February 2017 Class of securities: Ordinary shares Number of conditional awards: 115 216 Award price per security: R15.97 Total value of transaction: R1 839 999.52 Vesting period: Three years and 3 months and 7 days from date of acceptance Nature of transaction: Off-market acceptance of conditional awards in terms of the CSP Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes 23 February 2017 Sponsor Java Capital Date: 23/02/2017 12:45:00 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.