Report on proceedings at the annual general meeting Emira Property Fund Limited (Incorporated in the Republic of South Africa) (Registration number 2014/130842/06) Share code: EMI ISIN: ZAE000203063 ("Emira” or "the Company") REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING At the 3rd annual general meeting ("AGM") of the shareholders of Emira held on 23 November 2017, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes save for: - "Special Resolution 3: Financial assistance for subscription of securities"; and - "Special Resolution 4: Financial assistance to directors and/or related and inter-related entities". In this regard, Emira confirms the voting statistics from the AGM as follows: Votes carried disclosed as a percentage in relation to the total Number of shares Shares voted disclosed Shares abstained disclosed number of shares voted at the voted as a percentage in as a percentage in meeting relation to the total relation to the total issued share capital* issued share capital* Resolutions For Against Ordinary Resolutions 1. Adoption of annual financial statements 100 % 0.00% 448934565 85.89% 0.28% 2. Appointment of external auditors 100 % 0.00% 449142955 85.93% 0.24% 3. Re-election and confirmation of directors 3.1 Re-election of Mr G van Zyl as an independent non-executive 98.95% 1.05% 449142955 85.93% 0.24% director 3.2 Re-election of Mr BH Kent as an independent non-executive 100% 0.00% 450379070 86.17% 0.00% director 3.3 Re-election of Ms NE Makiwane as an independent non- 100% 0.00% 450379070 86.17% 0.00% executive director 3.4 Appointment of Mr DJ Thomas 100% 0.00% 450379070 86.17% 0.00% as a non-executive director 4. Appointment of the chairman and members of the Audit Committee 4.1 Appointment of Mr Bryan Kent as a member and chairman of 98.45% 1.55% 449142955 85.93% 0.24% the Audit Committee 4.2 Appointment of Mr Vuyisa Nkonyeni as a member of the 99.17% 0.83% 449142955 85.93% 0.24% Audit Committee 4.3 Appointment of Mr Vusi Mahlangu as a member of the 94.41% 5.59% 449142955 85.93% 0.24% Audit Committee 5. Approval of remuneration policy 80.03% 19.97% 449142955 85.93% 0.24% 6. Approval to issue ordinary shares, including to sell treasury shares, 83.36% 16.64% 449142955 85.93% 0.24% for cash 7. Approval of Forfeitable Share Plan 83.18% 16.82% 449142955 85.93% 0.24% 8. Signature of documents 100% 0.00% 449142955 85.93% 0.24% Special Resolutions 1. Approval of the non-executive directors’ remuneration 99.96% 0.04% 449142955 85.93% 0.24% 2. General approval to acquire ordinary shares 96.11% 3.89% 449142955 85.93% 0.24% 3. Financial assistance for subscription of securities 1.87% 28.13% 449142955 85.93% 0.24% 4. Financial assistance to directors and/or related and inter-related 69.42% 30.58% 449142955 85.93% 0.24% entities 5. Approval to issue shares to directors 88.03% 11.97% 449142955 85.93% 0.24% *Total issued share capital is 522 667 247. It is confirmed that Ernst & Young were appointed as Emira’s external auditors as at 23 November 2017. Johannesburg 24 November 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/11/2017 05:00:00 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.