Pre-close webcast and distribution guidance HYPROP INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/005284/06) JSE share code: HYP ISIN: ZAE000190724 JSE bond issuer code: HYPI (Approved as a REIT by the JSE) (“Hyprop” or “the company”) PRE-CLOSE WEBCAST AND DISTRIBUTION GUIDANCE PRE-CLOSE WEBCAST Shareholders are advised that Hyprop is hosting a pre-close conference call and webcast at 8:30am on Monday, 2 December 2019, prior to Hyprop entering a closed period for the six months ending 31 December 2019. Participant telephone numbers: Johannesburg (Telkom) 011 535 3600 Johannesburg (Neotel) 010 201 6800 USA and Canada 1 508 924 4326 Conference call replay: South Africa 010 500 4108 UK 0 203 608 8021 Australia 073 911 1378 USA 1 412 317 0088 International +27 010 500 4108 Replay access code 29426 Interested parties can access the webcast, via the internet, by navigating to: https://services.themediaframe.com/links/hyprop191202.html. A copy of the pre-close presentation to be used in the webcast is available on the company’s website: https://www.hyprop.co.za/ir-presentations.php. DISTRIBUTION GUIDANCE Shareholders are referred to the guidance provided in the integrated annual report for the year ended 30 June 2019 relating to the expected distributable income per share for the year ending 30 June 2020, which noted that Hyprop expects a reduction in distributable income per share for the year ending 30 June 2020 of approximately 10% to 13%. This guidance, which has not been reviewed or reported on by the company’s auditors, remains unchanged. Furthermore, as also noted in the integrated annual report for the year ended 30 June 2019, Hyprop has been considering reducing the dividend payout ratio in order to fund the group’s capital expenditure partly out of operating profit and strengthen the balance sheet. In this regard, the board of directors has resolved to introduce a reduced dividend pay-out ratio that will apply with effect from the distribution for the six months ending 31 December 2019. The company intends distributing 92% of its distributable income per share until further notice. 2 December 2019 Sponsor Java Capital Date: 02-12-2019 07:30:00 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.