Trading statement CASTLEVIEW PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2017/290413/06) JSE share code: CVW ISIN: ZAE000251633 ("Castleview" or "the company" or "the group") TRADING STATEMENT In terms of the JSE Listings Requirements, property companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by at least 15% from the forecast previously provided to the market. Given the nature of its business, Castleview uses dividend per share as its key performance measure. Accordingly, shareholders are advised that the company anticipates that its dividend per share for the eight months ended 28 February 2018 will be 16.7 cents per share, being 39.17% higher than the forecast dividend per share of 12 cents per share published in Castleview's pre-listing statement issued on 13 December 2017 ("forecast dividend"). The variance relates to the board recommending that net income, previously forecast to be retained, will now be distributed as part of the dividend. The financial information on which this trading statement has been based has not been reviewed or reported on by the company's auditors. The financial results of Castleview for the eight months ended 28 February 2018 will be published on or about 17 May 2018. 16 May 2018 Designated advisor Java Capital Date: 16/05/2018 01:45:00 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.