Trading Statement HYPROP INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/005284/06) JSE share code: HYP ISIN: ZAE000190724 (Approved as a REIT by the JSE) (“Hyprop”) TRADING STATEMENT In terms of the JSE Listings Requirements, property entities are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the distribution for the period to be reported on next will differ by at least 15% from the distribution for the previous corresponding period. Accordingly, shareholders are advised that Hyprop anticipates that its interim distribution per share for the six months ended 31 December 2016 (the period) will be between 342.8 cents per share and 348.4 cents per share, being between 15% and 17% higher than the 297.8 cents per share for the six months ended 31 December 2015. Distribution growth was enhanced in the period primarily by the inclusion of distributable earnings from the investments in South-Eastern Europe, none of which was included in the prior interim period ended 31 December 2015. The financial results of which this trading statement is based have not been reviewed or reported on by Hyprop’s auditors. The financial results for the six months ended 31 December 2016 will be published on or about 3 March 2017. 24 February 2017 Sponsor Java Capital Date: 24/02/2017 10:55:00 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.