Acquisition of Various Portfolios of Residential Properties: Posting of Circular and Notice of General Meeting INDLUPLACE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/226082/06) JSE share code: ILU ISIN: ZAE000201125 (Approved as a REIT by the JSE) (“Indluplace” or “the Company”) ACQUISITION OF VARIOUS PORTFOLIOS OF RESIDENTIAL PROPERTIES: POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING Indluplace shareholders are referred to the terms announcement released on 20 June 2017 (the “terms announcement”) which advised shareholders that Indluplace and its wholly owned subsidiary Friedshelf 1781 Proprietary Limited had concluded agreements with multiple vendors, some of whom were members of or affiliated to the Buffet group of entities, to in effect acquire, through a variety of transaction mechanisms, three residential property portfolios, for an effective transaction consideration of approximately R1.4 billion (“the proposed transactions”). Indluplace shareholders are advised that the Company has today, 29 August 2017, posted a circular to Indluplace shareholders (the “circular”), containing full details of the proposed transactions and incorporating a notice of general meeting. The circular is available in electronic format on the Company’s website at www.indluplace.co.za. Indluplace shareholders are further advised that the forecast financial information contained in the terms announcement differ to those as set out in the circular. The revised assumptions and explanations thereto are as follows – 1. The capital structure of the proposed transaction has been revised to reflect a 60:40 debt to equity ratio in order to better align with the Company’s long-term optimal gearing. 2. The forecast financial information included in the circular is for the periods ending 30 September 2018 and 30 September 2019 instead of the periods ending 30 September 2017 and 30 September 2018. The general meeting to approve the proposed transactions is set to take place on Wednesday, 27 September 2017, which is later than anticipated in the terms announcement. The effective date of the proposed transaction is the first day of the month following the fulfilment of all conditions precedent. The effective date of the proposed transaction is anticipated to be 1 October 2017. A general meeting of Indluplace shareholders will be held at 1 Sturdee Avenue, Rosebank, 2196 at 10:00 on Wednesday, 27 September 2017 to consider and, if deemed fit, pass, with or without modification, the resolutions necessary to implement the proposed transactions. SALIENT DATES AND TIMES 2017 Record date to be entitled to receive this circular Friday, 18 August Circular posted to Indluplace shareholders on Tuesday, 29 August Announcement of posting of circular and notice of general meeting on SENS on Tuesday, 29 August Announcement of posting of circular and notice of general meeting in the press on Wednesday, 30 August Last day to trade in order to attend and vote at the general meeting Tuesday, 19 September Record date in order to be eligible to attend and vote at the general meeting Friday, 22 September Receipt of forms of proxy in respect of the general meeting of Indluplace shareholders by 10:00 on Tuesday, 26 September The general meeting to be held at 10:00 on Wednesday, 27 September Results of the general meeting and finalisation announcement released on SENS on Wednesday, 27 September Results of the general meeting and finalisation announcement published in the press on Thursday, 28 September Notes: 1. All dates and times in this announcement are local dates and times in South Africa and are subject to change. Any changes will be released on SENS and published in the press. 2. Indluplace shareholders are referred to page 4 of the circular for information on the action required to be taken by them. 29 August 2017 Corporate advisor and sponsor to Indluplace Java Capital Date: 29/08/2017 04:10:00 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.