Small related party transaction OCTODEC INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1956/002868/06) JSE share code: OCT ISIN: ZAE000192258 (Approved as a REIT by the JSE) ("Octodec" or "the company") SMALL RELATED PARTY TRANSACTION 1. Introduction Shareholders are advised that Octodec and City Property Administration Proprietary Limited ("CPA") have concluded an agreement to renew the leases (the "lease agreements") of certain properties owned by Octodec or wholly-owned subsidiaries of Octodec and rented by CPA. 2. Details of the lease agreements In terms of the lease agreements, Octodec will lease following properties to CPA for a period of five years, commencing on 1 July 2018 and expiring on 30 June 2023: Gross lettable Monthly rental Property name / leased premises area amount CPA Place, 19 Loveday Street, Johannesburg 1 252m2 R134 330 CPA House, 101 Du Toit Street, Pretoria 6 208m2 R458 100 Jardown 1, 371 Johannes Ramokhoase Street, Pretoria 679m2 R70 700 Jardown 2, 384 Madiba Street, Pretoria 35 bays R15 150 Bosch Building, 363-365 Johannes Ramokhoase Street, Pretoria 83 bays R36 550 Total monthly rental amount R714 830 The lease agreements are subject to the following additional terms and conditions: - rental escalation of 6% per annum; - CPA will be liable for its pro rata portion of increases in assessment rates; - CPA House, 101 Du Toit Street, Pretoria, will receive one month’s rental as an installation allowance; - on expiry of the lease agreements, CPA will return the properties in the same condition as at 1 July 2018, subject to fair wear and tear; and - CPA may terminate the lease agreements should the asset management agreement between CPA and Octodec be terminated. 3. Small related party transaction In terms of section 10 of the JSE Listings Requirements, the signature of the lease agreements constitutes a small related party transaction, as CPA and Octodec are related parties due to the fact that Jeffrey Wapnick and Sharon Wapnick are directors of Octodec and CPA, and the Wapnick family are material shareholders of both Octodec and CPA. Accordingly, BDO Corporate Finance Proprietary Limited ("BDO"), an independent expert acceptable to the JSE, has been appointed to provide a fairness opinion in this regard. A further announcement will be published on finalisation of the independent expert’s fairness opinion in respect of the lease agreement. 4 December 2018 Sponsor Java Capital Date: 04/12/2018 05:30:00 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.