Results of dividend reinvestment alternative EQUITES PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/080877/06) JSE share code: EQU ISIN: ZAE000188843 (Approved as a REIT by the JSE) ("Equites" or "the company") RESULTS OF DIVIDEND REINVESTMENT ALTERNATIVE Shareholders are referred to the declaration of a cash dividend of 70.31469 cents per share (the "cash dividend") with an election to reinvest the cash dividend in return for Equites shares (the "dividend reinvestment alternative"), announced on SENS on Thursday, 9 May 2019 for the six months ended 28 February 2019 and the announcement of the reinvestment price per new share (being R19.50 per share) applicable to Equites shareholders electing the dividend reinvestment alternative, released on SENS on Tuesday, 21 May 2019. Shareholders holding 106 765 786 Equites shares or 21.2% of Equites shares (prior to the election) qualifying to receive the cash dividend elected to receive the dividend reinvestment alternative, resulting in the issue of 3 839 423 new Equites shares, retaining R74 875 919.45 in new equity for Equites. Accordingly, the total number of shares in issue post the issue of the additional shares pursuant to the dividend reinvestment alternative will be 507 256 209. Certificated shareholders who did not elect the dividend reinvestment alternative in respect of some or all of their shares and who have provided their bank details to Equites' transfer secretaries will have their bank accounts credited with the cash dividend on Monday, 3 June 2019. Share certificates in respect of certificated shareholders who did elect the dividend reinvestment alternative in respect of some or all of their shares will be posted on Wednesday, 5 June 2019 to certificated shareholders at their risk. The Central Securities Depository Participants or broker custody accounts of dematerialised shareholders who did not elect the dividend reinvestment alternative in respect of some or all of their shares will be credited with the cash dividend on Monday, 3 June 2019 and the Central Securities Depository Participants or broker custody accounts of dematerialised shareholders who did elect the dividend reinvestment alternative in respect of some or all of their shares will be credited on Wednesday, 5 June 2019 with their new Equites shares. 3 June 2019 Corporate advisor and sponsor Java Capital Date: 03/06/2019 01:00:00 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.