Dealing in securities by a director SA Corporate Real Estate Limited (Incorporated in the Republic of South Africa) Share Code: SAC ISIN Code: ZAE000203238 (Registration number 2015/015578/06) ("SA Corporate") REIT status approved DEALING IN SECURITIES BY A DIRECTOR In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: Name: T R Mackey Office held: Managing Director Date of transaction: 21 December 2018 Number of matched share awards: 163 677 Price per matched share: R3.50 Value of transaction: R572 869.50 Nature of transaction: One-third vesting of matched shares awarded in 2014 in terms of participation in SA Corporate’s Forfeitable Share Plan (off market) Date of transaction: 21 December 2018 Number of forfeitable performance share awards: 163 677 Price per forfeitable performance share: R3.50 Value of transaction: R572 869.50 Nature of transaction: Grant and acceptance of matched share awards in terms of SA Corporate’s Forfeitable Share Plan (off market) Vesting period: Matched shares vest in equal portions over 3, 4 and 5 years Nature of interest: Direct beneficial Written clearance to deal received: Yes Cape Town 27 December 2018 Sponsor Nedbank Corporate and Investment Banking Date: 27/12/2018 09:00:00 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.