Disclosure of Increased Beneficial Interest in Texton Securities by the PIC TEXTON PROPERTY FUND LIMITED Granted REIT status by the JSE Incorporated in the Republic of South Africa (Registration number 2005/019302/06) Share code: TEX ISIN: ZAE000190542 (“Texton” or “the Company”) DISCLOSURE OF INCREASED BENEFICIAL INTEREST IN TEXTON SECURITIES BY THE PIC In compliance with section 122(3)(b) of the Companies Act, 2008 (Act 71 of 2008), as amended (“Companies Act”) and paragraph 3.83(b) of the Listings Requirements of JSE Limited, shareholders are advised that Texton has received notification in terms of section 122(1) of the Companies Act that the Public Investment Corporation SOC Limited (“PIC”) has increased its beneficial interest in the securities of the Company as a result of the perfection of security due to the default events arising from a loan agreement between the PIC and Texton Broad-Based Empowerment (RF) Proprietary Limited, such that its entire beneficial interest amounts to 18.993% of the total number of securities in issue. With its increased interest in Texton, the PIC has become Texton’s largest shareholder. As required in terms of section 122(3)(a) of the Companies Act, Texton has filed the required notice with the Takeover Regulation Panel. Johannesburg 17 April 2019 Sponsor Merchantec Capital Date: 17/04/2019 09:00:00 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.