No change statement and availability of Broad-Based Black Economic Empowerment annual compliance report TOWER PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2012/066457/06) JSE share code: TWR ISIN: ZAE000179040 (Approved as a REIT by the JSE) ("Tower" or "the company") NO CHANGE STATEMENT AND AVAILABILITY OF BROAD-BASED BLACK ECONOMIC EMPOWERMENT ANNUAL COMPLIANCE REPORT Shareholders are advised that Tower's audited annual financial statements for the financial year ended 31 May 2018 (on which the company's auditors expressed an unmodified audit opinion) are available with immediate effect, on the company's website, www.towerpropertyfund.co.za/download/tower-annual- financial-statements-may-2018. The audited annual financial statements contain no changes to the summarised audited consolidated annual results for the year ended 31 May 2018, released on SENS on 31 July 2018. The company's integrated annual report, containing a notice of annual general meeting, will be published by no later than 30 September 2018 and an announcement in this respect will be released in due course. Shareholders are further notified that in accordance with the JSE Listings Requirements, the company's annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 read with the Broad-Based Black Economic Empowerment Amendment Act 46 of 2013, is available on the company's website, towerpropertyfund.co.za/BBBEEE form 1. 31 July 2018 Sponsor Java Capital Date: 31/07/2018 04:30:00 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.