Joint voluntary announcement – Update on the impact of COVID-19 TSOGO SUN HOTELS LIMITED HOSPITALITY PROPERTY FUND LIMITED (previously known as Southern Sun Hotels Incorporated in the Republic of South Africa Proprietary Limited) (Registration number 2005/014211/06) Incorporated in the Republic of South Africa JSE share code: HPB Registration number 2002/006356/06 ISIN: ZAE000214656 Share Code: TGO ISIN:ZAE000272522 Bond company code: HPAI (“Tsogo Sun Hotels” or “the Group”) (Approved as a REIT by the JSE) (“HPF”) JOINT VOLUNTARY ANNOUNCEMENT – UPDATE ON THE IMPACT OF COVID-19 Following the announcement made last night by President Ramaphosa of a nationwide lockdown to contain the spread of COVID-19, the Group will be accelerating the deactivation of hotels. Only hotels that meet the Government’s prescribed requirements, that is: for the specific purpose of supporting essential or critical business continuity services, will remain active. The Group will not be hosting an investor conference call as previously advised. A number of investors have requested calls with management and these have been declined due to the risk of asymmetrical release of information to the market. Clearly this is an unprecedented situation and the Group intends to be as transparent as possible as it manages its way through this crisis. However, the situation is also extremely fluid and therefore it is in the Groups’ and shareholders’ best interest that information is disseminated in an orderly and considered manner. Our first priority is to ensure the safety of our people and that we assist Government in implementing the lockdown safely and timeously. Further updates will be provided to shareholders in due course. 24 March 2020 JSE Equity Sponsors Tsogo Sun Hotels: Investec Bank Limited Hospitality Property Fund: Java capital JSE Debt Sponsor Hospitality Property Fund: Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 24-03-2020 02:48:00 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.