Dealings in securities by an associate of a director EMIRA PROPERTY FUND LIMITED Incorporated in the Republic of South Africa (Registration number 2014/130842/06) JSE share code: EMI ISIN: ZAE000203063 (Approved as a REIT by the JSE) (“Emira” or “the Company”) DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR Shareholders are referred to the announcements released on SENS on 23 May 2017 and 28 June 2017, relating to the details of the BEE Transaction and the results of the general meeting, as well as the circular to shareholders distributed on 29 May 2017 (using the terms defined therein unless otherwise stated). Further thereto and in compliance with paragraph 3.63 of the Listings Requirements of the JSE Limited, shareholders are notified of the following trade in the Company’s shares: Name of director: Vusi Mahlangu Type of director: Independent Non-Executive Name of company: Emira Property Fund Limited Associate: Tamela Property Investments Proprietary Limited (“Tamela SPV”) Nature of transaction: Off-market specific issue of shares to Tamela SPV, in which Vusi Mahlangu holds an indirect interest of 32.56% Number of shares acquired: 4 254 512 Price per share: R13.9372 Total value of transaction: R59 295 980 Date of transaction: 30 June 2017 Class of shares: Ordinary shares Type of interest: Dealings by an associate Clearance to deal obtained: Yes Bryanston 3 July 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/07/2017 05:12:00 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.