Disposal of the Tivoli Development GREENBAY PROPERTIES LTD (Incorporated in the Republic of Mauritius on 14 August 2014) (Registration number C124756 C1/GBL) SEM share code: GFP.N0000 JSE share code: GRP ISIN: MU0461N00007 (“Greenbay” or “the Company”) DISPOSAL OF THE TIVOLI DEVELOPMENT Shareholders are referred to the announcement dated 28 July 2016, wherein Greenbay advised of the conclusion of an agreement with Tivoli Projekt d.o.o. in terms of which the Company acquired 9,932m2 of development land situated in Ljubljana, Slovenia (“the land”). The intention of the Company at the time was to develop the land into a multi-purpose development comprising 127 premium apartments, 3,257m2 of high street retail and 3,864m2 of A grade offices. The Company has subsequently designated the land as a non-core investment, and on 8 March 2018 closed an agreement to dispose of the land for a total consideration of € 16.2 million, which amount is € 2.3 million above the book value of the land as at 31 December 2017. Greenbay, along with other unknown participants, is in the final phase of the bidding process for a substantial direct infrastructure opportunity. The Company intends to utilise the proceeds of the land disposal for this opportunity, and will announce additional details of the acquisition, if successfully concluded. In addition, Greenbay is in active discussions on further direct infrastructure opportunities. The Company has primary listings on both the Official Market of the SEM and the Main Board of the JSE. By order of the Board 9 March 2018 This notice is issued pursuant to SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board accepts full responsibility for the accuracy of the information in this announcement. For further information please contact: SEM authorised representative JSE sponsor Company Secretary and sponsor Java Capital Perigeum Capital Intercontinental Trust Tel: +27 11 722 3050 Tel: +230 402 0890 Tel: +230 403 0800 Date: 09/03/2018 02:45:00 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.