Update on the outstanding conditions precedent to the Scheme of Arrangement between Acucap and its Shareholders Acucap Properties Limited Growthpoint Properties Limited Approved as a REIT by the JSE Approved as a REIT by the JSE Incorporated in the Republic of South Africa Incorporated in the Republic of South Africa Registration number 2001/021725/06 Registration number 1987/004988/06 Share code: ACP ISIN: ZAE000188660 Share code: GRT ISIN ZAE000179420 (“Acucap”) (“Growthpoint”) FURTHER UPDATE ON THE OUTSTANDING CONDITIONS PRECEDENT TO THE SCHEME OF ARRANGEMENT BETWEEN ACUCAP AND ITS SHAREHOLDERS IN TERMS OF WHICH GROWTHPOINT WILL ACQUIRE THE REMAINING SHARES IN ACUCAP THAT IT DOES NOT ALREADY OWN (“SCHEME”) Acucap and Growthpoint shareholders are referred to the joint announcement released on SENS on 16 February 2015, wherein the remaining conditions precedent to the Scheme were disclosed. The Competition Commission has recommended to the Competition Tribunal that the transaction between Acucap and Growthpoint be approved without conditions. The Competition Tribunal hearing is expected to occur in the second week of March. As such, the conditions precedent to the Scheme, being the approval of the Scheme by the Competition Authorities and the issue of a compliance certificate by the Takeover Regulation Panel, remain outstanding and as a result the Scheme is not yet effective. Shareholders of Acucap and Growthpoint will be informed in due course as to when all conditions precedent to the Scheme have been fulfilled. Johannesburg 27 February 2015 CORPORATE ADVISOR AND SPONSOR TO ACUCAP QUESTCO COMPETITION LAW ADVISOR TO ACUCAP BAKER MCKENZIE CORPORATE ADVISOR AND SPONSOR TO GROWTHPOINT INVESTEC LEGAL AND COMPETITION LAW ADVISOR TO GROWTHPOINT GLYN MARAIS INC 1 Date: 27/02/2015 12:00:00 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.