Conclusion of R1.6 billion ESG-Linked Facility Agreement EQUITES PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/080877/06) JSE share code: EQU ISIN: ZAE000188843 Debt company code: EQUI (Approved as a REIT by the JSE) (“Equites” or the “company” or the “group”) CONCLUSION OF R1.6 BILLION ESG-LINKED FACILITY AGREEMENT On 28 August 2020, Equites concluded a R1.6 billion sustainability-linked facility agreement (“the Facility”) with The Standard Bank of South Africa Limited (“Standard Bank”). The Facility is comprised of two tranches, Tranche 1 and Tranche 2, each of R800 million and will be applied towards part-financing the acquisition of a controlling interest in Retail Logistics Fund (Pty) Ltd, an entity that will own the Shoprite facilities identified in the SENS announcement released on 25 February 2020. This Facility represents a significant step forward towards recognising the vital importance of environmental, social and corporate governance (“ESG”) in enhancing sustainability and it embodies Equites’ commitment towards acting as a responsible corporate citizen. Tranche 2 is an 18-month, partially secured facility which was agreed at an interest rate of 3 month JIBAR + 155bps. The margin reflects the group’s conservative financial profile, its robust credit metrics and evidences the resilience of its property fundamentals. The facility agreement includes an ESG pricing mechanism linking the all-in cost of debt to Equites’ ESG risk rating score. Equites’ maiden comprehensive ESG Risk Rating Report depicts an ESG Risk rated as “Low Risk” with a peer relative performance in the top third of the global REIT Subindustry. A sustainability-linked facility agreement of this nature is unprecedented in the South African REIT sector and is in line with global best practice. Furthermore, there is latitude to embed this ESG pricing mechanism into a longer-dated facility agreement in future. Equites’ ESG rating has been assessed by Sustainalytics, a global leader in ESG and Corporate Governance research and ratings. The ESG rating is determined with reference to an ESG Risk Rating which evaluates, inter alia, Corporate Governance, ESG Integration, Product Governance, Human Capital and Business Ethics. Laila Razack, Chief Financial Officer of Equites said: “The conclusion of this facility agreement with Standard Bank is testament to the relationship forged with the bank over the past 5 years. The ability to execute a facility of this quantum and pricing in an environment marred by the COVID-19 crisis supports the assertion that a lowly-geared balance sheet with a high-quality underlying portfolio lends itself to attractive pricing. We are delighted to be pioneering sustainability-linked funding in a SA REIT context, as it demonstrates our commitment to ESG in the business and the importance thereof in the global context. We would like to thank Standard Bank for their ongoing support and commitment to Equites and look forward to a long and prosperous journey ahead.” Nigel Beck, Executive & Global Head Sustainable Finance within Standard Bank added: “Partnering closely with Equites to better understand their business has allowed us to build a seamless, multi-disciplined sustainable funding solution. Equites have effectively demonstrated that African companies can structure financing packages linked to performance against ESG targets, thereby aligning their business goals with sustainability targets. This structure supports Standard Bank’s own Social, Economic and Environmental (SEE) shared value strategy, which seeks to deliver business success in a way that improves the human and natural environments in which the bank operates. Standard Bank is proud to be pioneering sustainability-linked funding in the SA REIT sector with Equites and we would like to thank them for their valued partnership.” 9 September 2020 Sponsor Java Capital Debt Sponsor Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 09-09-2020 04:00:00 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.