EQUITES PROPERTY FUND LIMITED - Changes to the board of directors

Changes to the board of directors

EQUITES PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/080877/06)
JSE share code: EQU ISIN: ZAE000188843
(Approved as a REIT by the JSE)
(“Equites” or the “company”)

CHANGES TO THE BOARD OF DIRECTORS

The board of directors of the company ("Board") wishes to advise shareholders that Ms Eunice Cross and Ms Keabetswe
Ntuli have been appointed as independent, non-executive directors with effect from 28 January 2020.

Ms Cross holds a Masters of Law in commercial law from the University of Witwatersrand and is currently completing a
Doctor of Philosophy at Wits Business School. In 2006 Ms Cross took on the role of legal counsel for Absa Bank Limited's
Business Bank Division before being appointed the head of Specialised Funding Solutions Legal. In 2011 Ms Cross became
the senior legal adviser at the Industrial Development Corporation of South Africa Limited, where she served until December
2018.

Ms Ntuli holds a B.Com Honours in Accounting Sciences from the University of Pretoria and is a registered Chartered
Accountant. Ms Ntuli is the founding chief executive officer of Africa Collective Investments (RF) Proprietary Limited. She
is an independent non-executive director and the chairperson of the audit committee for Cloud Atlas Investing (RF)
Proprietary Limited and is an executive director of Africa Collective Investments (RF) Proprietary Limited.

The Board welcomes Ms Cross and Ms Ntuli to the Board and trusts they will bring their skills, expertise and experience to
the company for the benefit of all stakeholders.

29 January 2020

Sponsor
Java Capital

Date: 29-01-2020 05:15:00
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