Dealing in securities by directors SA Corporate Real Estate Limited (Incorporated in the Republic of South Africa) Share Code: SAC ISIN Code: ZAE000203238 (Registration number 2015/015578/06) ("SA Corporate") REIT status approved DEALING IN SECURITIES BY DIRECTORS In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: Name: T R Mackey Office held: Chief Executive Officer Date of transaction (vesting date): 9 December 2019 Number of forfeitable performance share awards: 430 806 Price per forfeitable performance share: R3.1599 Value of transaction: R1 361 303.88 Nature of transaction: 56.7% vesting of forfeitable performance shares in terms of participation in 2016 in SA Corporate’s Forfeitable Share Plan (off market) Nature of interest: Direct Beneficial Date of transaction: 13 December 2019 Number of forfeitable performance share awards: 1 418 549 Price per forfeitable performance share: R3.22 Value of transaction: R4 567 727.78 Nature of transaction: Grant and acceptance of forfeitable performance share awards in terms of SA Corporate’s Forfeitable Share Plan (off market) Vesting period: Vesting date of 17 June 2022 subject to performance conditions Nature of interest: Indirect beneficial, via SA Corporate’s Forfeitable Share Plan Written clearance to deal received: Yes Name: A M Basson Office held: Chief Financial Officer Date of transaction (vesting date): 9 December 2019 Number of forfeitable performance share awards: 262 409 Vesting price per forfeitable performance share: R3.1599 Value of the transaction: R829 186.19 Nature of transaction: 60.2% vesting of forfeitable performance shares in terms of participation in 2016 in SA Corporate’s Forfeitable Share Plan (off market) Nature of interest: Direct Beneficial Date of transaction: 13 December 2019 Number of forfeitable performance share awards: 814 479 Price per forfeitable performance share: R3.22 Value of transaction: R2 622 622.38 Nature of transaction: Grant and acceptance of forfeitable performance share awards in terms of SA Corporate’s Forfeitable Share Plan (off market) Vesting period: Vesting date of 17 June 2022 subject to performance conditions Nature of interest: Indirect beneficial, via SA Corporate’s Forfeitable Share Plan Date of transaction: 13 December 2019 Number of matched share awards: 87 470 Price per share: R3.21845 Value of the transaction: R281 517.12 Nature of transaction: Award and acceptance of matched share awards in terms of SA Corporate’s Forfeitable Share Plan and as calculated by a pre- determined formula (off market) Vesting period: Matched shares vest in equal proportions over 3, 4 and 5 years, subject to employment. Nature of interest: Indirect beneficial, via SA Corporate’s Forfeitable Share Plan Written clearance to deal received: Yes Cape Town 13 December 2019 Sponsor Nedbank Corporate and Investment Banking Date: 13-12-2019 01:48:00 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.