Variable Strikes- Adjusted Strike Prices INVESTEC WARRANTS ADJUSTMENT TO STRIKE PRICES ANNOUNCEMENT ON VARIABLE STRIKE WARRANTS Investec Variable Strike Warrants: Adjustment to the Exercise Price as of 2 September 2013 Share Adjusted Expiry Date Cover Call/Put Style JSE Code Exercise Ratio Price per Share (cents) Fountainhead Property 9.662 19/07/2016 1:1 Call European FPTIVB Trust ZAE000098265 Growthpoint Properties 59.817 19/07/2016 1:1 Call European GRTIVB Limited ZAE000081774 Growthpoint Properties 517 24/07/2019 1:1 Call European GRTIVC Limited ZAE000138194 Growthpoint Properties 1133.626 01/04/2022 1:1 Call European GRTIVD Limited ZAE000166419 Growthpoint Properties 1887.58 15/03/2028 1:1 Call European GRTIVE Limited ZAE000179065 Hyprop Investments 1248.022 24/07/2019 1:1 Call European HYPIVC Limited ZAE000138202 Investec Property Fund 468.74 24/07/2019 1:1 Call European IPFIVA Limited ZAE000162939 Investec Property Fund 678.36 01/04/2022 1:1 Call European IPFIVB Limited ZAE000166427 Redefine Properties 13.103 12/09/2016 1:1 Call European RDFIVC Limited ZAE000084489 Redefine Properties 714.69 21/05/2024 1:1 Call European RDFIVD Limited ZAE000179073 Sycom Property Fund 227.038 19/07/2016 1:1 Call European SYCIVB ZAE000081824 Sycom Property Fund 540.318 24/07/2019 1:1 Call European SYCIVC ZAE000138228 As a result of the Recalculation based on the Dividend Distributions an adjustment has been made to the exercise prices of the above-mentioned Variable Strike warrants. These adjustments are effective from 2 September 2013. The warrants are exercisable only in accordance with the terms and conditions as set out in the relevant offering circular. 3 September 2013 Copies of the offering circular may be obtained from: Investec Bank Limited 100 Grayston Drive Sandown Sandton 2196 For further information contact: Investec Warrants Tel.: 0860 103 343 E-mail: warrants@investec.co.za Internet: www.investecwarrants.com Sponsor Investec Securities (Pty) Limited Member of the JSE Registration number. 1972/008905/07) Date: 03/09/2013 10:24:00 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.