Completion of acquisition of DHL Distribution Centre in Reading, England EQUITES PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/080877/06) JSE share code: EQU ISIN: ZAE000188843 (Approved as a REIT by the JSE) (“Equites” or “the company”) COMPLETION OF ACQUISITION OF DHL DISTRIBUTION CENTRE IN READING, ENGLAND Shareholders are referred to the announcement released on SENS on 27 October 2017 wherein shareholders were advised that Equites, through its Isle of Man based wholly-owned subsidiary, Equites International Limited (“Equites International”), had concluded the following agreements: - an agreement of sale of land with Exton Estates Three Limited (“the seller”), in terms of which Equites International will acquire 7.96 acres of vacant land (“the property”) for £9 722 526 (ZAR 175 005 468); and - a development and funding agreement with Exton Estates Limited, in terms of which Equites International will fund the development of a 9 325 square metre ‘last mile’ distribution warehouse to be let to DHL International (UK) Limited for an amount up to £15 909 588 (ZAR 286 372 584) (“the transaction”). The transaction was subject to 1) the seller obtaining the requisite planning permission in respect of the development and the expiry of the six week judicial review period during which interested and affected parties may raise objections and 2) the granting of a long leasehold interest in the property from Reading Borough Council to the seller. Shareholders are hereby advised that all of the conditions precedent having been fulfilled, the acquisition of the property was implemented on 19 December 2017 on which date Equites became the lessee of the property. The transaction is classified as a category 2 transaction in terms of the JSE Listings Requirements and accordingly does not require approval by Equites’ shareholders. 19 December 2017 Corporate advisor and sponsor to Equites Java Capital Date: 19/12/2017 04:08:00 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.