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 Following the acceptance of conditional awards in terms of the rules of the Equites Conditional Share Plan (“CSP”), shareholders are advised of the following information relating to the issue of shares under the CSP. The rules of the CSP allow participants to defer the vesting of the applicable tranche of shares by a further 24 months which will result in the conditional awards increasing on a 3-for-1 basis by the issue of matching shares provided that the participant remains in the company’s employment and does not sell any of the shares in that tranche for these further 24 months. The following directors have elected to defer vesting and accordingly the shares issued will be pledged to the Company for a further 24 months. Name of director: Andrea Taverna-Turisan Date of transaction: 1 June 2017 Class of securities: Ordinary shares Number of securities: 227 472 Price per security: R10.65 Total value of transaction: R2 422 576.80 Nature of transaction: Issue and pledge of shares 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: 1 June 2017 Class of securities: Ordinary shares Number of securities: 106 636 Price per security: R10.65 Total value of transaction: R1 135 673.40 Nature of transaction: Issue and pledge of shares 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: 1 June 2017 Class of securities: Ordinary shares Number of securities: 137 860 Price per security: R10.65 Total value of transaction: R1 468 209.00 Nature of transaction: Issue and pledge of shares in terms of the CSP Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes 6 June 2017 Sponsor Java Capital Date: 06/06/2017 03:13:00 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.