Withdrawal of cautionary announcements ASCENSION PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/026141/06) JSE share code: AIA ISIN: ZAE000204566 (Approved as a REIT by the JSE) (“Ascension” or “the company”) WITHDRAWAL OF CAUTIONARY ANNOUNCEMENTS Shareholders are referred to the cautionary announcements released on SENS in respect of the proposed relisting of the Ascension B shares and the proposed acquisition, the last of which was released on SENS on 9 February 2017 as well as the announcement released on SENS on 16 March 2017, advising shareholders that the scheme of arrangement between Ascension and Ascension A shareholders in terms of which Rebosis Property Fund Limited (“Rebosis”) will acquire all of the Ascension A ordinary shares (the “A share scheme”) was approved by Ascension shareholders. Whilst the A share scheme still remains subject to the fulfilment of certain suspensive conditions, Ascension and Rebosis intend to proceed with the A share scheme upon fulfilment of these suspensive conditions. It is anticipated that the A share scheme will be implemented during April 2017. Whilst negotiations for the acquisition of a property letting enterprise (together with the property situated at 66 Jorrisen Street, Johannesburg) from Mutodo Properties Proprietary Limited (the “66 Jorrisen Street acquisition”) are well- advanced, the 66 Jorissen Street acquisition would still be subject to the fulfilment of certain suspensive conditions prior to the implementation of the A share scheme. Ascension has resolved not to proceed with the 66 Jorissen Street acquisition at this time to ensure that the implementation of the A share scheme is not delayed. Accordingly, following the release of this announcement, caution is no longer required by Ascension A shareholders when dealing in the company’s securities. 22 March 2017 Sponsor Java Capital Date: 22/03/2017 05:24:00 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.