Voluntary Investor Update ARROWHEAD PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2011/000308/06) JSE share code: AWA ISIN: ZAE000203105 (Approved as a REIT by the JSE) ("Arrowhead" or the "Company") VOLUNTARY INVESTOR UPDATE Earlier today Rebosis Property Fund Limited ("Rebosis") released a "Trading Statement and Investor Update" announcement on SENS rebasing its earnings. Arrowhead has an approximately 18.6% interest in Rebosis through a holding of Rebosis B shares. The Company has assessed the impact of Rebosis' revised guidance in respect of the dividend per Rebosis B share for the six-month period and year ending 31 August 2018 on Arrowhead’s earnings for the year ending 30 September 2018. Arrowhead now expects dividend growth for the year ending 30 September 2018 to be between -11% and -12% compared to the -6.5% previously forecast. Accordingly, the dividend for the six-month period ending 30 September 2018 is expected to be between 37.46280 cents per share and 36.58760 cents per share. This updated guidance has not been reviewed or reported on by Arrowhead's auditors and should be read together with Arrowhead's results for the year ended 30 September 2017, published on SENS on 22 November 2017, and particularly the prospects section of those results. 20 August 2018 Sponsor Java Capital Date: 20/08/2018 02:43:00 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.
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