Director and Associate’s Dealings in Securities INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Share Code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") Director and Associate’s Dealings in Securities – Sam Hackner and associate In compliance with Rules 3.63 - 3.74 of the JSE Limited Listings Requirements, it is disclosed that Sam Hackner disposed of shares held in his personal capacity to his wife Karen Hackner who is defined as an associate. The combined holdings of Sam Hackner and Karen Hackner remains unchanged. Details of the transaction are as follows: Name : Sam Hackner Designation : Chairman Nature of transaction : Disposal of shares to an associate, off market Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 20 June 2018 Number of shares : 875 000 Purchase price per share : R13.15 Total value of transaction : R11 506 250 Clearance to deal obtained : Yes Name : Karen Hackner Designation : Associate Nature of transaction : Acquisition of shares from a Director, off market Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 20 June 2018 Number of shares : 875 000 Purchase price per share : R13.15 Total value of transaction : R11 506 250 Investec Property Fund Limited Johannesburg 20 June 2018 Sponsor: Investec Bank Limited Date: 20/06/2018 12:00:00 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.