APF13 - Notification of a Partial Capital Reduction and Accrued Interest Payment of Listed Debt Securities 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) Bond code: APF13 ISIN: ZAG000170853 (“Accelerate” or the “Issuer”) NOTIFICATION OF A PARTIAL CAPITAL REDUCTION AND ACCRUED INTEREST PAYMENT OF LISTED DEBT SECURITIES In accordance with the Terms and Conditions of Accelerate’s ZAR 5,000,000,000.00 Domestic Medium Term Note Programme dated 9 September 2014, noteholders are herewith advised of the partial capital reduction of the APF13 notes and the accrued interest paid thereon. Bond code: APF13 ISIN: ZAG000170853 Nominal amount before reduction: ZAR 129 000 000.00 Reduction of nominal amount: ZAR 104 000 000.00 Nominal amount after reduction: ZAR 25 000 000.00 Settlement amount: ZAR 104 272 489.36 Pay date of the repurchase: 1 October 2020 Effective date of the reduction in nominal amount: 1 October 2020 Accrued interest amount: ZAR 272 489.36, included in the settlement amount Annualised interest rate: 6.375% Interest period: 16 September 2020 to 30 September 2020 The partial capital reduction is due to the repurchase of the listed debt securities by the Issuer. 29 September 2020 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 29-09-2020 10:40:00 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.