Dealing in securities by an associate of a director of the company REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/018591/06) JSE share code: RDF ISIN: ZAE000190252 (Approved as a REIT by the JSE) ("Redefine" or the "company") DEALING IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF THE COMPANY Shareholders are advised of the following information relating to the dealing in securities by an associate of a director of Redefine: Name of associate: Clearwater Capital (Holdings) (Pty) Ltd ("Clearwater Capital Holdings") Name of director: Harish Mehta Relationship to director: Manton No. 1 (Pty) Ltd ("Manton"), which is wholly owned by The HKM Family Trust (of which Harish Mehta is a trustee and beneficiary), is a shareholder of Clearwater Capital Holdings. Harish Mehta is a director of Manton and the sole director of Clearwater Capital Holdings. The HKM Family Trust No 2 (of which Harish Mehta is a trustee and beneficiary) is the sole shareholder of Clearwater Capital (Pty) Ltd, which is also a shareholder of Clearwater Capital Holdings Transaction date: 10 June 2019 Class of securities: Ordinary shares Nature of transaction: Off-market zero cost collar hedge over 5 000 000 Redefine shares with a put strike price of R7.08 and a call strike price of R9.98 and an expiry date of 12 June 2020. Nature and extent of director’s interest: Indirect beneficial Due to the volatility in the market, this one year transaction allows Clearwater Capital Holdings to protect 78.8% of the downside risk of the current value (the put strike price) on the 5 000 000 Redefine shares. It is Clearwater Capital Holdings’ intention to cash-settle the transaction at the expiry of the collar instead of disposing of the underlying shares. 13 June 2019 Sponsor Java Capital Date: 13/06/2019 09:10:00 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.