EQUITES PROPERTY FUND LIMITED - Changes to the board of directors

Changes to the board of directors

EQUITES PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/080877/06)
JSE share code: EQU ISIN: ZAE000188843
JSE alpha code: EQUI
(Approved as a REIT by the JSE)
("Equites" or the "Company")


CHANGES TO THE BOARD OF DIRECTORS


Shareholders and noteholders are advised that Leon Campher has communicated his intention to retire as
chairperson of the Board at the conclusion of the upcoming annual general meeting, which is expected to be
held on or about 13 August 2026. Leon will remain on the Board as an independent non-executive director
until 28 February 2027.

Leon has been the chairperson since the Company's listing on the JSE in 2014, and has provided invaluable
leadership, guidance and support to the Board and management during his tenure. The Board would like to
thank Leon for his invaluable contribution to Equites and wishes him every success in the future.

Fulvio Tonelli, an independent non-executive director of Equites since 2022, will succeed Leon as
chairperson, following his retirement. Fulvio's proven leadership and deep financial and governance
knowledge position him well to succeed as chairperson.

Leon will step down as the chairperson of the Nomination Committee and the Investment Committee and as
a member of the Nomination Committee, Remuneration Committee, Risk and Capital Committee, and the
Social, Ethics and Transformation Committee effective 13 August 2026. He will remain a member of the
Investment Committee.

In light of Leon's retirement, shareholders and noteholders are further advised of the following changes to the
composition of the board committees effective 13 August 2026:

   -   Cindy Robertson will replace Fulvio Tonelli as chairperson of the Audit Committee;
   -   Ndabezinhle Mkhize will replace Leon Campher as chairperson of the Investment Committee;
   -   Cindy Robertson will be appointed to the Social, Ethics and Transformation Committee;
   -   Cindy Robertson will be appointed to the Risk and Capital Committee:
   -   Fulvio Tonelli will be appointed to the Remuneration Committee;
   -   Fulvio Tonelli will replace Leon Campher as the chairperson of the Nomination Committee; and
   -   Cindy Robertson will be appointed to the Nomination Committee.

Following these changes, the various board committees will comprise the following members:

Audit Committee:

   -   Cindy Robertson (chairperson)
   -   Mustaq Brey
   -   Keabetswe Ntuli
   -   Doug Murray

Remuneration Committee:

   -   Keabetswe Ntuli (chairperson)
   -   Mustaq Brey
   -   Fulvio Tonelli
   -   Doug Murray

Nomination Committee:

   -   Fulvio Tonelli (chairperson)
   -   Mustaq Brey
   -   Eunice Cross
   -   Ndabezinhle Mkize
   -   Keabetswe Ntuli
   -   Cindy Robertson

Risk and Capital Committee:

   -   Mustaq Brey (chairperson)
   -   Eunice Cross
   -   Ndabezinhle Mkhize
   -   Fulvio Tonelli
   -   Cindy Robertson

Social, Ethics and Transformation Committee:

   -   Eunice Cross (chairperson)
   -   Fulvio Tonelli
   -   Cindy Robertson

Investment Committee:

   -   Ndabezinhle Mkhize (chairperson)
   -   Andre Gouws
   -   Doug Murray
   -   Leon Campher
   -   Fulvio Tonelli

13 May 2026


Sponsor
Java Capital

Debt sponsor
Nedbank Corporate and Investment Banking, 
a division of Nedbank Limited

Date: 13-05-2026 12:00:00
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