Dealings in Securities by Directors Accelerate Property Fund Limited (Incorporated in the Republic of South Africa) Registration number: 2005/015057/06 Share code: APF ISIN: ZAE000185815 (“Accelerate” or “the Company”) (Approved as a REIT by the JSE) Dealings in Securities by Directors Grant and acceptance of conditional Shares by Directors In compliance with sections 3.63 to 3.74 of the Listings Requirements of the JSE Limited, shareholders are hereby advised of the following dealings in securities of Accelerate pertaining to the award and acceptance thereof, by executive directors of the Company (“Directors”), of conditional rights to ordinary shares in the share capital of Accelerate (“Shares”) in terms of the rules of the Conditional Share Plan (“CSP”): Name of director: Michael Georgiou Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 25 September 2018 Number of securities: 2 190 046 Shares (Vesting date: 1 April 2021) Class of securities: Ordinary shares Deemed price per security: R4,42 Total value of the transaction: R9 680 003,32 Extent of interest: Indirect beneficial Name of director: Andrew Costa Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 25 September 2018 Number of securities: 2 190 046 Shares (Vesting date: 1 April 2021) Class of securities: Ordinary shares Deemed price per security: R4,42 Total value of the transaction: R9 680 003,32 Extent of interest: Indirect beneficial Name of director: John Paterson Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 25 September 2018 Number of securities: 1 444 004 Shares (Vesting date: 1 April 2021) Class of securities: Ordinary shares Deemed price per security: R4,42 Total value of the transaction: R6 382 497,68 Extent of interest: Direct beneficial Name of director: Dimitri Kyriakides Name of company: Accelerate Nature of transaction: Off-market acceptance of an award of conditional Shares Date of transaction: 25 September 2018 Number of securities: 1 158 372 Shares (Vesting date: 1 April 2021) Class of securities: Ordinary shares Deemed price per security: R4,42 Total value of the transaction: R5 120 004,24 Extent of interest: Direct beneficial Exercise of conditional Shares and issue of Shares to Directors Shareholders are furthermore advised of the following dealings in securities by Directors following the vesting of conditional Shares previously granted and accepted in terms of the rules of the CSP and the subsequent issuance of Shares to Directors: Name of director: Andrew Costa Name of company: Accelerate Nature of transaction: Off-market exercise of conditional Shares and issue of Shares Date of transaction: 21 September 2018 Number of securities: 794 813 Shares Class of securities: Ordinary shares Deemed price per security: R4,36 Total value of the transaction: R3 465 384,68 Extent of interest: Direct beneficial Name of director: John Paterson Name of company: Accelerate Nature of transaction: Off-market exercise of conditional Shares and issue of Shares Date of transaction: 21 September 2018 Number of securities: 397 407 Shares Class of securities: Ordinary shares Deemed price per security: R4,36 Total value of the transaction: R1 732 694,52 Extent of interest: Direct beneficial Name of director: Dimitri Kyriakides Name of company: Accelerate Nature of transaction: Off-market exercise of conditional Shares and issue of Shares Date of transaction: 21 September 2018 Number of securities: 99 351 Shares Class of securities: Ordinary shares Deemed price per security: R4,36 Total value of the transaction: R433 170,36 Extent of interest: Direct beneficial Clearance for all the above transactions was obtained in terms of section 3.66 of the JSE Listings Requirements. Fourways 26 September 2018 Sponsor The Standard Bank of South Africa Limited Date: 26/09/2018 09:57:00 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.