Results of The Annual General Meeting held on 21 August 2017 INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Share Code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 21 AUGUST 2017 Shareholders are advised that at the 2017 Annual General Meeting (AGM) of Investec Property Fund Limited held on 21 August 2017, all the resolutions set out in the notice and proposed at the meeting were passed, without modification, by the requisite majority of shareholders. The resolutions were voted on as follows: % of issued Number share capital Total number of shares present/represented including proxies at 86% 615 179 461 meeting Votes in Votes Favour Against Abstentions Ordinary Resolution Number 1– Election of PA Hourquebie as a Director 602 379 030 0 12 800 431 100.00% 0.00% 1.78% Ordinary Resolution Number 2 – Re-Election of S Hackner as a Director 602 076 985 302 845 12 799 631 99.95% 0.05% 1.78% Ordinary Resolution Number 3 – Re-Election of CM Mashaba as a Director 602 379 730 0 12 799 731 100.00% 0.00% 1.78% Ordinary Resolution Number 4 – Re-Election of MM Ngoasheng as a Director 596 077 366 6 302 364 12 799 731 98.95% 1.05% 1.78% Ordinary Resolution Number 5 – Election of PA Hourquebie as member of Audit and Risk 562 668 396 39 710 634 12 800 431 Committee 93.41% 6.59% 1.78% Ordinary Resolution Number 6 – Election of CM Mashaba as member of Audit and Risk 602 379 830 0 12 799 631 Committee 100% 0% 1.78% Ordinary Resolution Number 7 – Election of MM Ngoasheng as member of Audit and Risk 602 335 746 44 084 12 799 631 Committee 99.99% 0.01% 1.78% Ordinary Resolution Number 8 – Election of KL Shuenyane as member of Audit and Risk 602 379 830 0 12 799 631 Committee 100% 0% 1.78% Ordinary Resolution Number 9 – Re-appointment of Ernst & Young as designated auditors 602 379 730 100 12 799 631 100% 0% 1.78% Ordinary Resolution Number 10 – Directors’ and Company Secretary Authority to take 602 379 730 100 12 799 631 action in respect of the resolutions approved by 100% 0% 1.78% shareholders Ordinary Resolution Number 11 – Specific Authority to Directors to allot and issue shares in 602 347 035 32 795 12 799 631 relation to a DRIP 99.99% 0.01% 1.78% Ordinary Resolution Number 12 – Directors’ authority to allot and issue 24.11% of 576 052 968 26 326 862 12 799 631 authorised but unissued shares 95.63% 4.37% 1.78% Special Resolution Number 1 – Directors’ authority to allot and issue shares for cash in 581 725 634 20 654 196 12 799 631 respect of 5% of the shares in issue 96.57% 3.43% 1.78% Special Resolution Number 2 – Directors’ general authority to acquire shares 597 224 361 5 124 908 12 830 192 99.15% 0.85% 1.79% Special Resolution Number 3 – Non-Executive Directors’ remuneration 598 782 529 3 597 301 12 799 631 99.40% 0.60% 1.78% Special Resolution Number 4 – Financial assistance to subsidiaries and other related and 602 379 730 100 12 799 631 inter-related entities 100% 0% 1.78% The special resolutions, to the extent required, will be submitted for filing with the Companies and Intellectual Property Commission in due course. Investec Property Fund Limited Johannesburg 21 August 2017 Sponsor: Investec Bank Limited Date: 21/08/2017 11:21:00 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.