Update Announcement: Category 2 Transaction REBOSIS PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2010/003468/06) JSE share codes: REA ISIN: ZAE000240552 REB ISIN: ZAE000201687 (Approved as a REIT by the JSE) (“Rebosis” or ”the Company”) UPDATE ANNOUNCEMENT: CATEGORY 2 TRANSACTION RELATING TO DISPOSAL OF PORTFOLIO OF PROPERTIES TO BOXWOOD PROPERTY INVESTMENT FUND Rebosis shareholders (“Shareholders”) are referred to the announcement published on 15 May 2018 (“Transaction Announcement”) in terms of which Shareholders were advised that Ascension Properties Limited, a direct subsidiary of the Company, had concluded an agreement with Boxwood Property Investment Fund ("Purchaser"), in terms of which the Purchaser would acquire the property letting enterprises in respect of the properties known as 14 Long Street, 45 on Castle, Bergstan Building, Matrix Building, Nedbank Building and Rebosis House (“Properties”) for an aggregate consideration of R888 000 000 (inclusive of VAT at zero percent) (“Disposal”). Shareholders are advised that the requisite due diligence investigation has been duly completed. The only outstanding conditions precedent are (i) the Purchaser obtaining debt finance for the acquisition of 45 on Castle and Rebosis House by no later than 25 June 2018, (ii) the waiver of a right of first refusal by one tenant in respect of the buildings which it currently occupies by no later than 16 July 2018; and,(iii) by no later than 24 August 2018, the Disposal being approved unconditionally by the competition authorities in terms of the Competition Act, No. 89 of 1998 or, in the event of a conditional approval, on terms acceptable to the parties to the Disposal. The anticipated effective date of the Disposal is 10 September 2018, being the expected date of transfer of the Properties. Johannesburg 18 June 2018 Sponsor Nedbank Corporate and Investment Banking Date: 18/06/2018 04:32:00 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.