Dealings in securities by a director and an associate of a director of the company VUKILE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/027194/06) JSE share code: VKE NSX share code: VKN ISIN: ZAE000180865 (Granted REIT status with the JSE) (“Vukile” or “the company”) DEALINGS IN SECURITIES BY A DIRECTOR AND AN ASSOCIATE OF A DIRECTOR OF THE COMPANY Shareholders are advised of the following information relating to dealings in securities by a director and an associate of a director of Vukile. The dealings in securities are a result of Mr Rapp, the CEO of Vukile, diversifying and simplifying his family’s investment holdings. Mr Rapp and his spouse, Emma Rapp, intend to utilise the proceeds from the zero-cost collar hedge to invest directly into Castellana Properties SOCIMI S.A, Vukile’s Spanish subsidiary, which is due to be listed on the Madrid Stock Exchange by July 2018. Following the dealings in securities, Mr Rapp’s direct and indirect holdings in Vukile total 2 585 371 shares, representing 0.33% of Vukile’s issued capital. Name of associate: Laurence Rapp Family Trust Name of director and relationship to director: Laurence Rapp is a director of Vukile, and a trustee and beneficiary of the Laurence Rapp Family Trust Transaction date: 23 February 2018 Class of securities: Ordinary shares Number of securities: 185 000 Price per security: R20.93 Total value of transaction: R3 872 050 Nature of transaction: Off-market disposal Nature and extent of director’s interest: Indirect Beneficial Name of associate: Emma Rapp Name of director and relationship to director: Emma Rapp is the spouse of Laurence Rapp, a director of Vukile Transaction date: 23 February 2018 Class of securities: Ordinary shares Number of securities: 185 000 Price per security: R20.93 Total value of transaction: R3 872 050 Nature of transaction: Off-market acquisition Nature and extent of director’s interest: N/A Name of director: Laurence Rapp Transaction date: 26 February 2018 Class of securities: Ordinary shares Number of securities: 562 055 Nature of transaction: Off-market, zero cost collar hedge over 562 055 ordinary shares in Vukile in two tranches with, in each case, a spot price of R20.98, a put strike price of R21.77 and a call strike price of R27.28 with expiry dates of 24 February 2020 and 2 March 2020 Nature and extent of director’s interest: Direct Beneficial Clearance to deal received: Yes Name of associate: Emma Rapp Name of director and relationship to director: Emma Rapp is the spouse of Laurence Rapp, a director of Vukile Transaction date: 26 February 2018 Class of securities: Ordinary shares Number of securities: 185 000 Nature of transaction: Off-market, zero cost collar hedge over 185 000 ordinary shares in Vukile in two tranches with, in each case, a spot price of R20.98, a put strike price of R21.77 and a call strike price of R27.28 with expiry dates of 24 February 2020 and 2 March 2020 Nature and extent of director’s interest: N/A 27 February 2018 JSE sponsor NSX sponsor Java Capital IJG Securities (Pty) Ltd Date: 27/02/2018 05:50:00 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.