Changes to the board of directors and responsibility of director; withdrawal of cautionary announcement 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" or the "Company") REIT status approved CHANGES TO THE BOARD OF DIRECTORS AND RESPONSIBILITY OF DIRECTOR WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT CHANGES TO THE BOARD OF DIRECTORS AND RESPONSIBILITY OF DIRECTOR Further to the announcement released on SENS on 21 May 2019 regarding, inter alia the resignation of Mr Rory Mackey as Managing Director of the Company, the Board is pleased to announce that the Company has entered into an arrangement with Mr Mackey with immediate effect, whereby he will continue in his capacity as Managing Director of the Company for one year, extendable by mutual agreement. The Board further advises that Mr E Seedat has been appointed as Chairman of the Risk and Compliance Committee effective from 1 August 2019. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT RE: NON-BINDING EXPRESSIONS OF INTEREST ("NBEOI's") Shareholders are referred to the Cautionary Announcement issued on 25 June 2019 wherein they were advised that the Company had received several NBEOI's from credible third parties expressing an interest to acquire the entire share capital of the Company. The SA Corporate Board has considered the NBEOI's and has determined that it is not in the best interests of the Company nor its shareholders to pursue the implementation of any of the proposals contained in the NBEOI's. Accordingly, the cautionary announcement is withdrawn and shareholders are no longer required to exercise caution when dealing with the Company's securities. Cape Town 5 August 2019 Sponsor Nedbank Corporate and Investment Banking Date: 05/08/2019 12:15:00 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.