Finalisation of fairness opinion - small related party transaction Exemplar REITail Limited (Incorporated in the Republic of South Africa) (Registration number 2018/022591/06) Approved as a REIT by the JSE JSE share code: EXP ISIN: ZAE000257549 LEI: 3789000558287E37F130 ("Exemplar" or "the Company") FINALISATION OF FAIRNESS OPINION – SMALL RELATED PARTY TRANSACTION Shareholders are referred to the SENS announcement released on 30 October 2020, which SENS announcement detailed a small related party transaction (the "transaction") entered into between McCormick Property Development Proprietary Limited and Exemplar, and the appointment of an independent expert with regard to the provision of a fairness opinion in relation to the transaction. PKF Octagon Inc., the independent expert appointed in this regard, has concluded that the terms of the transaction are fair as far as the shareholders of Exemplar are concerned, and a copy of its fairness opinion has been provided to the JSE. As required in terms of paragraph 10.7(c) of the JSE Listings Requirements, the fairness opinion will lie open for inspection at the registered office of Exemplar, Sokatumi Estate, corner Lyttleton Road and Leyden Avenue, Clubview, Centurion, for a period of 28 days from the date of this announcement, and be available on the Company's website at http://www.exemplarreit.co.za/wp-content/uploads/Exemplar_Fairness-Opinion_2-February-2021.pdf. 2 February 2021 Sponsor Java Capital Date: 02-02-2021 04:45:00 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.