Dealings in Securities by Directors Accelerate Property Fund Limited (Incorporated in the Republic of South Africa) Registration number: 2005/015057/06 Share code: APF ISIN: ZAE000185815 (“Accelerate” or “the Company”) (Approved as a REIT by the JSE) Dealings in Securities by Directors In compliance with sections 3.63 to 3.74 of the Listings Requirements of the JSE Limited, shareholders are hereby advised of the following dealings in securities of Accelerate pertaining to the award and acceptance thereof, by executive directors of the Company (“Directors”), of conditional rights to ordinary shares in the share capital of Accelerate (“Shares”) in terms of the rules of the Conditional Share Plan (“CSP”): Name of director: Michael Georgiou Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 15 December 2017 Number of securities: 1 617 626 Shares (Vesting date: 1 April 2020) Class of securities: Ordinary shares Strike price per security: n/a Total value of the transaction: n/a Extent of interest: Indirect beneficial Name of director: Andrew Costa Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 15 December 2017 Number of securities: 1 617 626 Shares (Vesting date: 1 April 2020) Class of securities: Ordinary shares Strike price per security: n/a Total value of the transaction: n/a Extent of interest: Indirect beneficial Name of director: John Paterson Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 15 December 2017 Number of securities: 1 005 551 Shares (Vesting date: 1 April 2020) Class of securities: Ordinary shares Strike price per security: n/a Total value of the transaction: n/a Extent of interest: Direct beneficial Name of director: Dimitri Kyriakides Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 15 December 2017 Number of securities: 524 635 Shares (Vesting date: 1 April 2020) Class of securities: Ordinary shares Strike price per security: n/a Total value of the transaction: n/a Extent of interest: Direct beneficial Clearance for these transactions was obtained in terms of section 3.66 of the JSE Listings Requirements. Fourways 18 December 2017 Sponsor The Standard Bank of South Africa Limited Date: 18/12/2017 05:30:00 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.