Acquisition of a beneficial interest in Emira ordinary shares EMIRA PROPERTY FUND LIMITED Incorporated in the Republic of South Africa (Registration number 2014/130842/06) JSE share code: EMI ISIN: ZAE000203063 JSE Interest Rate Issuer Code: EMII (Approved as a REIT by the JSE) (“Emira” or “the Company”) ACQUISITION OF A BENEFICIAL INTEREST IN EMIRA ORDINARY SHARES Shareholders are referred to the announcement dated 12 November 2019, in which it was advised that I Group Financial Holdings Proprietary Limited (“I Group”), a concert party of U Big Investments Proprietary Limited (“U Big”) had increased its aggregate interest in Emira to 25.13%. In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 (“the Act”) and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Emira has received formal notification that I Group has acquired an interest in the ordinary shares of the Company (“Emira Shares”) such that its total combined interest in Emira Shares, when aggregated with those held by concert parties, now amounts to 30.1%. As required in terms of section 122(3)(a) of the Act, the Company has filed the required notices with the Takeover Regulation Panel. Bryanston 25 February 2020 Sponsor Questco Corporate Advisory Proprietary Limited Date: 25-02-2020 02:40:00 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.