Proposed disposal of Mafikeng student accommodation - Distribution of circular REBOSIS PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2010/003468/06) JSE share codes: REA ISIN: ZAE000240552 REB ISIN: ZAE000201687 Alpha code: REBI (Approved as a REIT by the JSE) (“Rebosis” or the “Company”) PROPOSED DISPOSAL OF MAFIKENG STUDENT ACCOMMODATION – DISTRITUTION OF CIRCULAR 1. Introduction Rebosis shareholders are referred to the announcement dated 06 September 2019 and the update thereto on 15 November 2019, wherein shareholders were advised that the Company had entered into an agreement and two further addendums thereto with Adowa Infrastructure Managers (RF) Proprietary Limited and the Government Employees Pension Fund, to dispose of student accommodation situated at Erf 2460, Mafikeng, together with the rental enterprise conducted thereon (the “Disposal”). 2. Distribution of circular As stated in the above announcements, the Disposal is classified as a Category 2, related party transaction for the Company, which accordingly requires the distribution of a circular to Rebosis shareholders. In the announcement dated 15 November 2019, shareholders were advised that the Company expects to distribute the circular during the first half of January 2020. Shareholders are further advised that the delay in finalising the Company’s audited financial year-end results in respect of the period ended 31 August 2019, which were published on 30 December 2019, together with the impact of the 2019/2020 festive season on the timetable, has resulted in a delay in finalising the circular. The Company expects to distribute the circular by end February 2020. The salient dates and times pertaining to the required approval by Rebosis shareholders will be released on SENS and published in the press at the time of posting of the circular. Johannesburg 20 January 2020 Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 20-01-2020 04:20:00 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.