Dealings in securities by directors of the company and by a director of a major subsidiary of the company ARROWHEAD PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2007/032604/06) JSE share code: AHA ISIN: ZAE000275491 JSE share code: AHB ISIN: ZAE000275509 (Granted REIT status with the JSE) (“Arrowhead” or “the company”) DEALINGS IN SECURITIES BY DIRECTORS OF THE COMPANY AND BY A DIRECTOR OF A MAJOR SUBSIDIARY OF THE COMPANY Shareholders are advised of the following information relating to the award and acceptance of conditional rights to Arrowhead B ordinary shares (“Performance B shares”) in terms of the Conditional Share Plan (“the Plan”) which will vest on 30 September 2023, subject to the employment and performance vesting conditions contained in the rules of the Plan: Name of director: M Kaplan Transaction date: 22 December 2020 Class of securities: Arrowhead B ordinary shares Number of securities: 1 131 837 Price per security: Rnil Total value of transaction: R3 248 372.19 (at a deemed price per security of R2.87) Nature of transaction: Off-market acceptance of Performance B shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: J Limalia Transaction date: 22 December 2020 Class of securities: Arrowhead B ordinary shares Number of securities: 696 827 Price per security: Rnil Total value of transaction: R1 999 893.49 (at a deemed price per security of R2.87) Nature of transaction: Off-market acceptance of Performance B shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director of major subsidiary: R Kader Name of major subsidiary: Arrowgem Limited Transaction date: 23 December 2020 Class of securities: Arrowhead B ordinary shares Number of securities: 696 827 Price per security: Rnil Total value of transaction: R1 999 893.49 (at a deemed price per security of R2.87) Nature of transaction: Off-market acceptance of Performance B shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes 23 December 2020 Sponsor Java Capital Date: 23-12-2020 05:30:00 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.