Directors’ acquisition of shares EMIRA PROPERTY FUND LIMITED Incorporated in the Republic of South Africa (Registration number 2014/130842/06) JSE share code: EMI ISIN: ZAE000203063 (Approved as a REIT by the JSE) (“Emira” or “the Company”) DIRECTORS’ ACQUISITION OF SHARES In compliance with paragraph 3.63 of the Listings Requirements of the JSE Limited, the following information is disclosed in respect of the acquisition by the executive directors of the Company of shares via The ESA Trust in terms of the Emira Share Subscription Scheme (“the Subscription”). Shareholders are advised that in anticipation of the Subscription, the Company repurchased 7 200 000 Emira ordinary shares (the “Repurchase Shares”) during the period 23 May 2019 to 25 June 2019 in the open market at an average price of R13.80958 in terms of a general authority granted by the Company’s shareholders at the Company’s annual general meeting held on 15 November 2018. The Repurchase Shares were cancelled on 28 June 2019 upon the Subscription. Name of director: G Jennett Date of acquisition: 28 June 2019 Number of shares acquired: 3 168 000 Issue price: R13.8262 (being the 30-day VWAP at 24 June 2019) Value of transaction: R43 801 402 Nature of transaction: Off market subscription of shares via The ESA Trust, utilising funding from 3rd parties and Emira in accordance with the Emira Share Subscription Scheme Class of securities: Ordinary shares Type of interest: Direct beneficial Clearance to deal obtained: Yes Name of director: G Booyens Date of acquisition: 28 June 2019 Number of shares acquired: 2 016 000 Issue price: R13.8262 (being the 30-day VWAP at 24 June 2019) Value of transaction: R27 873 619 Nature of transaction: Off market subscription of shares via The ESA Trust, utilising funding from 3rd parties and Emira in accordance with the Emira Share Subscription Scheme Class of securities: Ordinary shares Type of interest: Direct beneficial Clearance to deal obtained: Yes Name of director: U van Biljon Date of acquisition: 28 June 2019 Number of shares acquired: 2 016 000 Issue price: R13.8262 (being the 30-day VWAP at 24 June 2019) Value of transaction: R27 873 619 Nature of transaction: Off market subscription of shares via The ESA Trust, utilising funding from 3rd parties and Emira in accordance with the Emira Share Subscription Scheme Class of securities: Ordinary shares Type of interest: Direct beneficial Clearance to deal obtained: Yes Bryanston 28 June 2019 Sponsor Questco Corporate Advisory Proprietary Limited Date: 28/06/2019 05:35:00 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.