Update on major initiatives TOWER PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2012/066457/06) JSE share code: TWR ISIN: ZAE000179040 (Approved as a REIT by the JSE) (“Tower”) UPDATE ON MAJOR INITIATIVES Tower is pleased to advise shareholders that, as part of ensuring that shareholders are kept abreast of major operational initiatives within the business, Tower has uploaded a new video update on major initiatives to its website: http://www.towerpropertyfund.co.za/digital-newsletter-july-2020. The video update is in the form of a discussion highlighting certain key strategic and operational undertakings in the company. The video may be downloaded from the website and is available on YouTube and can also be downloaded as a short podcast. A transcript of the video update is also available at the above link. 24 July 2020 Sponsor Java Capital Date: 24-07-2020 01:25:00 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.