Results of Annual General Meeting TRANSCEND RESIDENTIAL PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) Registration number 2016/277183/06 JSE Code: TPF ISIN: ZAE000227765 (Approved as a REIT by the JSE) (“Transcend” or “the Company”) Results of Annual General Meeting Transcend shareholders are advised that, at the Annual General Meeting of the Company (“AGM”) held on Thursday, 30 May 2019, in terms of the notice of AGM distributed on Tuesday, 30 April 2019, save for special resolution number 4 which was withdrawn prior to the AGM, all the ordinary and special resolutions, including the non-binding advisory votes proposed thereat, were approved by the requisite majority of votes as set out below. As at Friday, 24 May 2019, being the AGM Record Date (“Voting Record Date”), the total number of Transcend shares in issue was 130 894 793. The total number of Transcend shares that were present/represented at the AGM was 123 641 828 being 94% of the total number of Transcend shares. The voting results are as follows: Ordinary resolution number 1.1: Election of M Dickens as an independent non-executive director Total Shares Voted Shares abstained (1) For (%) Against (%) Number (%) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 1.2: Election of G Jennett as an independent non-executive director Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 1.3: Election of V Perfect as an executive director Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 1.4: Re-election of R Emslie as an independent non-executive director Total Shares Voted Shares abstained (1) For (%) Against (%) Number (%) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 2.1: Election of MS Aitken as a member and the chairman of the Audit and Risk Committee Total Shares Voted Shares abstained (1) For (%) Against (%) Number (%) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 2.2: Election of FN Khanyile as a member of the Audit and Risk Committee Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 2.3: Election of M Dickens as a member of the Audit and Risk Committee Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 2.4: Election of RR Emslie as a member of the Audit and Risk Committee Total Shares Voted Shares abstained (1) For (%) Against (%) Number (%) (%)(1) 97.37% 2.63% 123 641 828 94.46% 0.00% Ordinary resolution number 3: Appointment of independent external auditors Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 4: General authority to issue shares for cash Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 97.37% 2.63% 123 641 828 94.46% 0.00% Ordinary resolution number 5: Authority to implement resolutions Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Ordinary resolution number 6: Authority to issue shares pursuant to a reinvestment option Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Non-binding resolution number 1: Endorsement of remuneration policy Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 97.37% 2.63% 123 641 828 94.46% 0.00% Non-binding resolution number 2: Endorsement of remuneration implementation report Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Special resolution number 1: Approval of the non-executive directors’ remuneration Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Special resolution number 2: Authority to provide financial assistance to related or inter-related entities Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Special resolution number 3: Approval to issue shares in terms of section 41(1) of the Companies Act Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% Special resolution number 4: General authority to repurchase shares Total Shares Voted Shares abstained For (%) Against (%) Number (%)(1) (%)(1) Withdrawn Special resolution number 5: Authority to the Company to acquire the Company’s shares from a director or prescribed officer Total Shares Voted Shares abstained (1) For (%) Against (%) Number (%) (%)(1) 100%(2) 0.00%(2) 123 641 828 94.46% 0.00% (1) Expressed as a percentage of 130 894 793 Transcend shares as at the Voting Record Date of Friday, 24 May 2019. (2) 1 100 votable shares voted against these resolutions and therefore shareholders are advised that the respective percentages have been rounded. Bryanston 31 May 2019 Designated Advisor Questco Corporate Advisory Proprietary Limited Date: 31/05/2019 11:15:00 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.