Appointment of independent non-executive directors BALWIN PROPERTIES LIMITED (previously Balwin Properties Proprietary Limited) (Incorporated in the Republic of South Africa) (Registration number 2003/028851/06) Share code: BWN ISIN: ZAE000209532 ("Balwin" or "the Company") APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS In terms of rule 3.59 of the JSE Listing Requirements, shareholders are advised of the appointments of Mr Tomi Amosun and Ms Thoko Mokgosi-Mwantembe as independent non- executive directors of the Board with immediate effect. Thoko will also assume the position of chairperson of the social and ethics committee and Tomi will be a member of the audit and risk committee as well as the transaction committee. Tomi has deep experience, knowledge and a proven track record of Real Estate, Listed Equity and Private Equity having acted as a trusted adviser to many large listed and unlisted companies in South Africa and Africa. Tomi has concluded all aspects of investment transactions including amongst other things, Mergers and Acquisitions, Private Equity Advisory, Company Restructurings, Listings, BEE Transactions, Regulatory and Compliance, and Debt and Equity Raising. He is a qualified Chartered Accountant (SA), a fellow of the Archbishop Desmond Tutu Leadership Institute, was recognised as an ABSIP Game Changer in the Financial Sector (2013), and has a Bachelor of Business Science (Finance) degree from the University of Cape Town. Thoko Mokgosi-Mwantembe is an experienced South African business leader. She qualified with a BSc. and Teaching Diploma from Swaziland, with an MSc. (Medicinal Chemistry) from Loughborough University in the UK. To bolster her business acumen she went on to complete Executive courses through Harvard and IMD in Switzerland. She has worked in senior positions for a number of world-wide pharmaceutical companies including Glaxo and Merck before focusing her career in the area of ICT. During the years prior to establishing the Kutana Group, a black women-owned Pan-African investment company, Thoko was; the Managing Executive for Telkom’s Consumer segment, the Sales and Marketing Director at Lucent Technologies, a Divisional MD of Siemens Telecommunications, the CEO of Alcatel SA and the CEO of HP SA. The Board welcomes Tomi and Thoko and looks forward to their contributions to the Company. Bedfordview 16 May 2017 Sponsor: Investec Bank Limited Date: 16/05/2017 07:30:00 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.