Results of The Annual General Meeting held on 20 August 2018 INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Share Code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 20 AUGUST 2018 Shareholders are advised that at the 2018 Annual General Meeting (AGM) of Investec Property Fund Limited held on 20 August 2018, all the resolutions set out in the notice and proposed at the meeting were passed, without modification, by the requisite majority of shareholders. The resolutions were voted on as follows: % of issued Number share capital Total number of shares present/represented including proxies at 84% 615 360 587 meeting Votes in Votes Favour Against Abstentions Ordinary Resolution Number 1 – Re-election of S Mahomed as a Director 613 014 331 378 992 1 967 264 99.94% 0.06% 0.27% Ordinary Resolution Number 2 – Re-Election of LLM Giuricich as a Director 613 325 114 68 209 1 967 264 99.99% 0.01% 0.27% Ordinary Resolution Number 3 – Re-Election of KL Shuenyane as a Director 613 323 277 70 046 1 967 264 99.99% 0.01% 0.27% Ordinary Resolution Number 4 – Election of PA Hourquebie as member of Audit and Risk 613 338 750 54 573 1 967 264 Committee 99.99% 0.01% 0.27% Ordinary Resolution Number 5 – Election of CM Mashaba as member of Audit and Risk 613 393 323 0 1 967 264 Committee 100% 0% 0.27% Ordinary Resolution Number 6 – Election of MM Ngoasheng as member of Audit and Risk 613 393 323 0 1 967 264 Committee 100% 0% 0.27% Ordinary Resolution Number 7 – Election of KL Shuenyane as member of Audit and Risk 613 323 277 70 046 1 967 264 Committee 99.99% 0.01% 0.27% Ordinary Resolution Number 8 – Re-appointment of Ernst & Young as designated auditors 613 393 323 0 1 967 264 100% 0% 0.27% Ordinary Resolution Number 9 – Directors’ and Company Secretary Authority to take 613 393 323 0 1 967 264 action in respect of the resolutions approved by 100% 0% 0.27% shareholders Ordinary Resolution Number 10 – Specific Authority to Directors to allot and issue shares in 613 270 389 122 934 1 967 264 relation to a DRIP 99.98% 0.02% 0.27% Ordinary Resolution Number 11 – Directors’ authority to allot and issue authorised but 547 685 036 65 708 287 1 967 264 unissued shares 89.29% 10.71% 0.27% Special Resolution Number 1 – Increase authorised share capital to 2 000 000 000 594 755 671 18 637 652 1 967 264 ordinary shares of no par value 96.96% 3.04% 0.27% Special Resolution Number 2 – Directors’ authority to allot and issue shares for cash in 588 517 949 24 875 374 1 967 264 respect of 5% of the shares in issue 95.94% 4.06% 0.27% Special Resolution Number 3 – Directors’ general authority to acquire shares 603 849 735 9 543 588 1 967 264 98.44% 1.56% 0.27% Special Resolution Number 4 – Non-Executive Directors’ remuneration 558 728 342 9 902 503 46 729 742 98.26% 1.74% 6.35% Special Resolution Number 5 – Financial assistance to subsidiaries and other related and 612 962 796 52 888 2 344 903 inter-related entities 99.99% 0.01% 0.32% The special resolutions, to the extent required, will be submitted for filing with the Companies and Intellectual Property Commission in due course. Investec Property Fund Limited Johannesburg 20 August 2018 Sponsor: Investec Bank Limited Date: 20/08/2018 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.