Supplementary Notice of Annual General Meeting and Proxy Form INVESTEC AUSTRALIA PROPERTY FUND Established in Australia and registered with ASIC as a managed investment scheme (ARSN 162 067 736) and operated by Investec Property Limited (ACN 071 514 246; AFSL 290 909) (“Responsible Entity”) Registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act No. 45 of 2003 Unit code: IAP ISIN: AU0000046005 (“IAP” or “the Fund”) SUPPLEMENTARY NOTICE OF ANNUAL GENERAL MEETING AND PROXY FORM IAP unitholders are advised that a Supplementary Notice of Annual General Meeting and a Proxy Form will be distributed today. These documents supplement the Original Notice of Annual General Meeting (and replace the original Proxy Form) that was distributed on Friday, 3 May 2019. The purpose of the Supplementary Notice is to: • give notice of a change of location of the Annual General Meeting in Australia; • withdraw Resolution 1 in the Original Notice of Annual General Meeting, relating to an on-market repurchase or buy-back of units; • add a new Resolution 2, relating to an issue of shares for cash; and • update certain elements of the Original Notice of Annual General Meeting in light of the ASX Listing Proposal which was the subject of a product disclosure statement dated 3 May 2019, and which was implemented on 28 May 2019. Notice is given that the annual general meeting of unitholders of the Fund will be held at: Time: 17:00 (Sydney) / 09:00 (Johannesburg) Date: Thursday, 15 August 2019 Place: • Investec, Level 23, The Chifley Tower, 2 Chifley Square, Sydney NSW 2000, Australia • Investec meeting room W2H3, 100 Grayston Drive, Sandown, Sandton 2196, South Africa Johannesburg 8 July 2019 Investment Bank and Sponsor Investec Bank Limited Date: 08/07/2019 08:00:00 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.