Changes in the Beneficial Interest in Transcend Ordinary Shares TRANSCEND RESIDENTIAL PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) Registration number 2016/277183/06 JSE Code: TPF ISIN: ZAE000227765 (Approved as a REIT by the JSE) (“Transcend” or “the Company”) CHANGES IN THE BENEFICIAL INTEREST IN TRANSCEND ORDINARY SHARES In accordance with paragraph 3.83(b) of the JSE Limited Listings Requirements and section 122(3)(b) of the Companies Act 71 of 2008 (“the Act”), shareholders are advised of the following changes in beneficial interest in the ordinary shares of Transcend: - the South Africa Workforce Housing Fund PVE (SA) has partially disposed of its beneficial interest in the ordinary shares of the Company, such that its total interest in Transcend has decreased from 29.82% to 16.50%; - the Development Bank of Southern Africa Limited has acquired a beneficial interest in the ordinary shares of Transcend, such that its total interest in Transcend has increased from 0.00% to 7.73% of the Company’s issued ordinary share capital; and - IHS (SAWHF Interest) Proprietary Limited has acquired a beneficial interest in the ordinary shares of Transcend such that its total interest in the Company has increased from 0.00% to 5.52% of the Company’s issued ordinary share capital. 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 29 May 2020 Sponsor Questco Corporate Advisory Proprietary Limited Date: 29-05-2020 02:41:00 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.