Modification Of Ordinary Resolution 4 Proposed For Adoption At The Annual General Meeting of Arrowhead ARROWHEAD PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2011/000308/06) JSE share code: AWA ISIN: ZAE000203105 JSE share code: AWB ISIN: ZAE000203113 (Approved as a REIT by the JSE) (“Arrowhead” or “the company”) MODIFICATION OF ORDINARY RESOLUTION 4 SET OUT IN THE NOTICE OF ANNUAL GENERAL MEETING PROPOSED FOR ADOPTION AT THE ANNUAL GENERAL MEETING OF ARROWHEAD Shareholders are referred to the notice of annual general meeting (which meeting will be held at the offices of Arrowhead, 2nd floor, 18 Melrose Boulevard, Melrose Arch, Johannesburg on Wednesday, 27 January 2016 at 10h00 (the “annual general meeting”)) contained in the company’s integrated annual report dispatched to shareholders on Wednesday, 2 December 2015 (the “notice”) and are advised that in respect of and in order to correct an omission in ordinary resolution 4 set out in the notice, placing the authorised but unissued shares of the company under the control of the board of directors of the company, the company proposes modifying ordinary resolution 4 at the annual general meeting, to limit the number of shares which may be allotted, issued or disposed of under ordinary resolution 4 to 10% of the company’s issued share capital at the date of the notice, being 46 873 226 Arrowhead A shares and 46 873 226 Arrowhead B shares. An amended notice of annual general meeting containing the proposed modification can be found on the company’s website, www.arrowheadproperties.co.za. 15 January 2016 Sponsor Java Capital Date: 15/01/2016 05:01:00 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.