Withdrawal of proposed offer by Safari to acquire all issued shares of Fairvest by way of a scheme of arrangement FAIRVEST PROPERTY HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/005011/06) JSE share code: FVT ISIN: ZAE 000203808 (Approved as a REIT by the JSE Limited) ("Fairvest") WITHDRAWAL OF PROPOSED OFFER BY SAFARI TO ACQUIRE ALL ISSUED SHARES OF FAIRVEST BY WAY OF A SCHEME OF ARRANGEMENT Shareholders are referred to (i) the joint announcement released on SENS by Fairvest and Safari Investments RSA Limited ("Safari") on 2 July 2019 wherein shareholders were informed of Safari's firm intention to make an offer to acquire all the issued shares of Fairvest, by way of a scheme of arrangement, in order to give effect to a friendly merger of Fairvest and Safari (the "Fairvest Merger") and (ii) the announcement released on SENS by Safari on 22 July 2019 (the "Comprop Announcement") relating to the receipt by the board of directors of Safari ("Safari Board") of a notice of firm intention by Community Property Company Proprietary Limited ("Comprop") to make a cash offer to acquire the entire issued ordinary share capital of Safari by way of a scheme of arrangement ("Comprop Proposal"). The Fairvest Merger was subject to, inter alia, approval being given by the requisite majority of Safari shareholders of the relevant resolutions required to authorise the implementation of the Fairvest Merger. The Comprop Announcement noted that Comprop had obtained undertakings from, or on behalf of, five Safari shareholders holding 55.7% of Safari shares in issue (38.6%, excluding the 17.1% interest held by Southern Palace Capital Proprietary Limited), in terms of which undertakings they have, inter alia, irrevocably undertaken to vote against all resolutions required to effect the Fairvest Merger and to vote in favour of the Comprop Proposal. In light of these developments, the Fairvest Merger has, by mutual agreement between Safari and Fairvest, been terminated. 14 August 2019 Transaction advisor and transaction sponsor to Fairvest Java Capital Legal advisor to Fairvest Cliffe Dekker Hofmeyr Sponsor to Fairvest and Safari PSG Capital Date: 14/08/2019 10:31:00 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.