Notification in terms of section 45(5) of the Companies Act 71 of 2008 VUKILE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/027194/06) JSE share code: VKE NSX share code: VKN ISIN: ZAE000180865 (Granted REIT status with the JSE) ("Vukile" or "the company") NOTIFICATION IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008 Notice is hereby given that, in terms of the provisions of section 45(5) of the Companies Act 71 of 2008 ("the Companies Act"), and pursuant to the special resolutions passed at the annual general meeting of Vukile held on 29 August 2016 authorising the board of directors of the company ("the board") to provide direct or indirect financial assistance to employees, executive directors and prescribed officers for participation in the Vukile Share Purchase Plan, the board has adopted a resolution on 12 July 2018] in terms of section 45(3) of the Companies Act, which resolution authorises the company to provide financial assistance to management, which includes executive directors and prescribed officers, in the amount of R142.8 million and for purposes of participating in the Vukile Share Purchase Plan. Management utilised R71.3 million (62% of the initially envisaged bookbuild amount) of the above-mentioned financial assistance to acquire shares as part of the market-determined bookbuild process announced on SENS on 18 July 2018. The assistance as described above constitutes financial assistance in terms of section 45 (1) of the Companies Act, the total value of which exceeds one tenth of one per cent of the company's net worth at the time of the adoption of the resolution. The board resolutions in this regard were adopted in compliance with the provisions of section 45 of the Companies Act. 19 July 2018 JSE sponsor NSX sponsor Java Capital IJG Securities (Pty) Ltd Date: 19/07/2018 05:43:00 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.