ACCELERATE PROPERTY FUND LIMITED - Financial Covenants Notification

Financial Covenants Notification

Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
(Approved as a REIT by the JSE)
(“Accelerate” or “the Issuer”)

FINANCIAL COVENANTS NOTIFICATION

Bondholders are advised of the following financial covenant information applicable to the notes
listed by the Issuer:

    •   the Loan to Value Ratio does not exceed 50%;
    •   the Secured Properties Loan to Value Ratio does not exceed 45%;
    •   the Interest Cover Ratio shall be greater than 2.0 times; and
    •   the Secured Properties Interest Cover Ratio shall be greater than 2.0 times.

Accelerate wishes to further advise bondholders that testing of the financial covenants for the year-
ended, 31 March 2018, has been completed and has been successful passed. The certificate in
respect of compliance with same is available for inspection at the registered office of the Issuer,
during normal working hours.

28 June 2018

Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa

Date: 28/06/2018 01:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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