Results of the Annual General Meeting held on 05 August 2019 INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Share Code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 05 AUGUST 2019 Shareholders are advised that at the 2019 Annual General Meeting (AGM) of Investec Property Fund Limited held on 05 August 2019, all the resolutions set out in the notice and proposed at the meeting were passed, without modification, by the requisite majority of shareholders. The resolutions were voted on as follows: % of issued Number share capital Total number of shares present/represented including proxies at 87% 640 747 847 meeting Votes in Votes Favour Against Abstentions Ordinary Resolution Number 1 – Election of DJ Mayers as a Director 632 310 053 4 650 118 3 787 676 99.27% 0.73% 0.51% Ordinary Resolution Number 2 – Election of JC Sprenger as a Director 632 310 053 4 650 118 3 787 676 99.27% 0.73% 0.51% Ordinary Resolution Number 3 – Re-election of SR Leon as a Director 632 212 653 4 747 518 3 787 676 99.25% 0.75% 0.51% Ordinary Resolution Number 4 – Re-Election of NP Riley as a Director 632 212 653 4 747 518 3 787 676 99.25% 0.75% 0.51% Ordinary Resolution Number 5 – Re-Election of CM Mashaba as a Director 632 118 276 4 841 895 3 787 676 99.24% 0.76% 0.51% Ordinary Resolution Number 6 – Election of PA Hourquebie as member of Audit and Risk 636 854 475 105 696 3 787 676 Committee 99.98% 0.02% 0.51% Ordinary Resolution Number 7 – Election of CM Mashaba as member of Audit and Risk 632 310 053 4 650 118 3 787 676 Committee 99.27% 0.73% 0.51% Ordinary Resolution Number 8 – Election of MM Ngoasheng as member of Audit and Risk 636 958 762 1 409 3 787 676 Committee 100% 0% 0.51% Ordinary Resolution Number 9 – Election of KL Shuenyane as member of Audit and Risk 636 958 762 1 409 3 787 676 Committee 100% 0% 0.51% Ordinary Resolution Number 10 – Re-appointment of Ernst & Young as designated auditors 571 857 682 65 107 489 3 782 974 89.78% 10.22% 0.51% Ordinary Resolution Number 11 – Directors’ and Company Secretary Authority to take 636 958 762 1 409 3 787 676 action in respect of the resolutions approved by 100% 0% 0.51% shareholders Ordinary Resolution Number 12 – Specific Authority to Directors to allot and issue shares in 636 858 475 106 398 3 782 974 relation to a DRIP 99.98% 0.02% 0.51% Ordinary Resolution Number 13 – Directors’ authority to allot and issue authorised but 538 743 269 98 223 633 3 780 945 unissued shares 84.58% 15.42% 0.51% Special Resolution Number 1 – Directors’ authority to allot and issue shares for cash in 591 184 676 45 780 495 3 782 676 respect of 5% of the shares in issue 92.81% 7.19% 0.51% Special Resolution Number 2 – Directors’ general authority to acquire shares 605 570 115 31 395 758 3 781 974 95.07% 4.93% 0.51% Special Resolution Number 3 – Non-Executive Directors’ remuneration 584 485 399 52 479 772 3 782 676 91.76% 8.24% 0.51% Special Resolution Number 4 – Financial assistance to subsidiaries and other related and 636 958 762 8 140 3 780 945 inter-related entities 100% 0% 0.51% The special resolutions, to the extent required, will be submitted for filing with the Companies and Intellectual Property Commission in due course. Investec Property Fund Limited Johannesburg 05 August 2019 Sponsor: Investec Bank Limited Date: 05/08/2019 11:18:00 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.