Directors’ Dealings in Securities INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Share Code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") Directors’ Dealings in Securities In compliance with Rules 3.63 - 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: Name : Sam Hackner Designation : Chairman Nature of transaction : Acquisition of shares, on market Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 26 February 2020 Number of shares : 508 182 Highest price per share : R12.15 Lowest price per share : R11.65 Volume weighted average price per share : R11.9669 Total value of transaction : R6 081 363.18 Clearance to deal obtained : Yes Name : Sam Hackner Designation : Chairman Nature of transaction : Acquisition of shares, on market Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 27 February 2020 Number of shares : 91 818 Highest price per share : R12.00 Lowest price per share : R12.00 Volume weighted average price per share : R12.00 Total value of transaction : R1 101 816.00 Clearance to deal obtained : Yes Name : Samuel R Leon Designation : Non-Executive Director Nature of transaction : On-market acquisition of shares Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 26 February 2020 Number of shares : 390 909 Highest price per share : R12.15 Lowest price per share : R11.65 Volume weighted average price per share : R11.9669 Total value of transaction : R4 677 968.91 Clearance to deal obtained : Yes Name : Samuel R Leon Designation : Non-Executive Director Nature of transaction : On-market acquisition of shares Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 27 February 2020 Number of shares : 109 091 Highest price per share : R12.00 Lowest price per share : R12.00 Volume weighted average price per share : R12.00 Total value of transaction : R1 309 092.00 Clearance to deal obtained : Yes Name : Khumo Lesego Shuenyane Designation : Independent Non-Executive Director Nature of transaction : On-market acquisition of shares Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 27 February 2020 Number of shares : 12 400 Highest price per share : R12.00 Lowest price per share : R12.00 Volume weighted average price per share : R12.00 Total value of transaction : R148 800.00 Clearance to deal obtained : Yes Name : Nicholas Peter Riley Designation : Non-Executive Director Nature of transaction : On-market acquisition of shares Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 26 February 2020 Number of shares : 78 182 Highest price per share : R12.15 Lowest price per share : R11.65 Volume weighted average price per share : R11.9669 Total value of transaction : R935 596.17 Clearance to deal obtained : Yes Name : Nicholas Peter Riley Designation : Non-Executive Director Nature of transaction : On-market acquisition of shares Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 27 February 2020 Number of shares : 21 818 Highest price per share : R12.00 Lowest price per share : R12.00 Volume weighted average price per share : R12.00 Total value of transaction : R261 816.00 Clearance to deal obtained : Yes Name : Andrew Robert Wooler Designation : Executive Director Nature of transaction : On-market acquisition of shares Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 26 February 2020 Number of shares : 97 727 Highest price per share : R12.15 Lowest price per share : R11.65 Volume weighted average price per share : R11.9669 Total value of transaction : R1 169 489.24 Clearance to deal obtained : Yes Name : Andrew Robert Wooler Designation : Executive Director Nature of transaction : On-market acquisition of shares Class of shares : Ordinary Nature of interest : Direct Beneficial Date of transaction : 27 February 2020 Number of shares : 27 273 Highest price per share : R12.00 Lowest price per share : R12.00 Volume weighted average price per share : R12.00 Total value of transaction : R327 276.00 Clearance to deal obtained : Yes Investec Property Fund Limited Johannesburg 27 February 2020 Sponsor: Investec Bank Limited Date: 27-02-2020 05:02:00 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.