Dealings in securities by directors and by associates of directors of Equites 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") DEALINGS IN SECURITIES BY DIRECTORS AND BY ASSOCIATES OF DIRECTORS OF EQUITES Shareholder are referred to the declaration of a cash dividend for the six months ended 31 August 2018, with an election to reinvest the cash dividend in return for Equites shares, the results of which were announced on Monday, 5 November 2018 (the "dividend reinvestment alternative"). Shareholders are hereby advised of the following information relating to the dealings in securities by directors and by an associate of a director of Equites in terms of the dividend reinvestment alternative: Name of director: Nazeem Khan Transaction date: 2 November 2018 Class of securities: Ordinary shares Number of securities: 3 512 Price per security: R20.00 Total value: R70 240.00 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: Nomagugu Mtetwa Transaction date: 2 November 2018 Class of securities: Ordinary shares Number of securities: 186 Price per security: R20.00 Total value: R3 720.00 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: Ruth Benjamin-Swales Transaction date: 2 November 2018 Class of securities: Ordinary shares Number of securities: 1 053 Price per security: R20.00 Total value: R21 060.00 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of associate: Phillip Swales Name of director: Ruth Benjamin-Swales Relationship to director: Husband Transaction date: 2 November 2018 Class of securities: Ordinary shares Number of securities: 175 Price per security: R20.00 Total value: R3 500.00 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Not applicable 5 November 2018 Corporate advisor and sponsor Java Capital Date: 05/11/2018 05:41:00 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.