General issue of shares for cash VUKILE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/027194/06) JSE share code: VKE NSX share code: VKN ISIN: ZAE000180865 Debt company code: VKEI (Granted REIT status with the JSE) ("Vukile" or "the company") GENERAL ISSUE OF SHARES FOR CASH Shareholders are hereby advised that the company has cumulatively issued more than of 5% of Vukile's shares in issue under the general authority to issue shares for cash, as approved by shareholders on 14 August 2018 ("the general issue authority"), details of which are set out below: - on 8 February 2019, the company issued 5 000 000 shares pursuant to the general issue authority, at R20.50 per share, being a 2.06% premium to the 30-day weighted average traded price prior to the date on which the issue price was determined; - on 13 March 2019, the company issued 13 253 483 shares pursuant to the general issue authority, at R20.10 per share, being a 2.099% discount to the 30-day weighted average traded price prior to the date on which the issue price was determined; and - on 11 April 2019, the company issued 35 264 483 shares pursuant an accelerated bookbuild, at R19.85 per share, being a 1.15% discount to the 30-day weighted average traded price prior to the date of the private placement. The proceeds of the above-mentioned share issues are being deployed to fund various growth and asset management opportunities within the portfolio held via Vukile's Spanish subsidiary, Castellana Properties Socimi and as part of Vukile's general balance sheet management. 12 April 2019 Corporate advisor and JSE sponsor NSX sponsor Java Capital IJG Securities (Pty) Ltd Date: 12/04/2019 12:00:00 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.