Dealings in securities by directors and by an associate of a director of Equites 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") DEALINGS IN SECURITIES BY DIRECTORS AND BY AN ASSOCIATE OF A DIRECTOR OF EQUITES Shareholder are referred to the declaration of a cash dividend for the six months ended 28 February 2019, with an election to reinvest the cash dividend in return for Equites shares, the results of which were announced on Monday, 3 June 2019 (the "dividend reinvestment alternative"). Shareholders are hereby advised of the following information relating to dealings in securities by directors and by an associate of a director of Equites in terms of the dividend reinvestment alternative: Name of director: Nazeem Khan Transaction date: 31 May 2019 Class of securities: Ordinary shares Number of securities: 3 845 Price per security: R19.50 Total value: R74 977.50 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: Nomagugu Mtetwa Transaction date: 31 May 2019 Class of securities: Ordinary shares Number of securities: 204 Price per security: R19.50 Total value: R3 978.00 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: Ruth Benjamin-Swales Transaction date: 31 May 2019 Class of securities: Ordinary shares Number of securities: 1 153 Price per security: R19.50 Total value: R22 483.50 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of associate: Phillip Swales Name of director: Ruth Benjamin-Swales Relationship to director: Husband Transaction date: 31 May 2019 Class of securities: Ordinary shares Number of securities: 192 Price per security: R19.50 Total value: R3 744.00 Nature of transaction: Off-market reinvestment in terms of the dividend reinvestment alternative Nature and extent of director's interest: Not applicable 4 June 2019 Corporate advisor and sponsor Java Capital Date: 04/06/2019 10:40:00 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.