Ascension / Rebosis - Cash payment in respect of fractional entitlements Ascension Properties Limited Rebosis Property Fund Limited (Registration number 2006/026141/06) (Registration number 2010/003468/06) JSE share code: AIA ISIN: ZAE000204566 JSE share codes: REA ISIN: ZAE000240552 (Approved as a REIT by the JSE) REB ISIN: ZAE000201687 (“Ascension”) (Approved as a REIT by the JSE) (“Rebosis”) CASH PAYMENT IN RESPECT OF FRACTIONAL ENTITLEMENTS Ascension A shareholders are referred to the various announcements released on SENS regarding the firm intention of Rebosis to make an offer to acquire all of the Ascension A shares in exchange for 19.34236 Rebosis A ordinary shares for every 100 Ascension A shares held, by scheme of arrangement in terms of section 114 of the Companies Act, 71 of 2008, between Ascension and its A shareholders (the “A share scheme”), the last of which was released on SENS on 6 April 2017. In implementing the Ascension A share scheme, Rebosis is required by the JSE to apply the rounding principle that a shareholder becoming entitled to a fraction of a share arising from the A share scheme (“fractional entitlement”) will be rounded down to the nearest whole number, resulting in the allocation of whole new Rebosis A ordinary shares and a cash payment for the fraction (the “cash payment”). The value of such cash payment will be the volume weighted average traded price per Rebosis A ordinary share less 10% on the first day of trade after the last day to trade in order to participate in the A share scheme, which will be announced on SENS on the second day of trade after the last day to trade in order to participate in the Ascension A share scheme. In accordance with the guidance letter issued by the JSE on 19 February 2016 regarding fractional entitlements, where shares in an issuer company have not traded the cash value will be nil and there will be no cash payment. Ascension A shareholders are advised that there was no trade in Rebosis A ordinary shares on Wednesday, 19 April 2017 and accordingly no cash payment for fractional entitlements will be made to Ascension A shareholders. 20 April 2017 Corporate advisor and sponsor Java Capital Date: 20/04/2017 11:08:00 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.