Acceptance by directors of shares awarded EMIRA PROPERTY FUND LIMITED Incorporated in the Republic of South Africa (Registration number 2014/130842/06) JSE share code: EMI ISIN: ZAE000203063 JSE bond company code: EMII (Approved as a REIT by the JSE) (“Emira” or the “Company”) ACCEPTANCE BY DIRECTORS OF SHARES AWARDED In compliance with paragraph 3.63 of the Listings Requirements and paragraph 6.42 of the Debt Listings Requirements of the JSE Limited, the following information is disclosed in respect of the acceptance by directors of the Company of shares awarded in terms of the Emira Forfeitable Share Plan (“Emira FSP”): Name of executive director: G Jennett Date of acceptance: 11 November 2020 Number of shares accepted: 721 121 Issue price: Rnil (Free of charge) Notional value of transaction (based R4 716 131.34 on an implied price of R6.54 per Emira share, being the closing price on the date immediately preceding the date of this announcement): Nature of transaction: Off-market acceptance of shares acquired by Emira in the market and awarded in terms of the Emira FSP, which shares will vest on the satisfaction of certain conditions as set out in the Emira FSP Vesting dates: The shares will vest in equal tranches on 15 October 2023, 15 October 2024 and 15 October 2025, respectively Class of securities: Ordinary shares Type of interest: Direct beneficial Clearance to deal obtained: Yes Name of executive director: G Booyens Date of acceptance: 11 November 2020 Number of shares accepted: 392 759 Issue price: Rnil (Free of charge) Notional value of transaction (based R2 568 643.86 on an implied price of R6.54 per Emira share, being the closing price on the date immediately preceding the date of this announcement): Nature of transaction: Off-market acceptance of shares acquired by Emira in the market and awarded in terms of the Emira FSP, which shares will vest on the satisfaction of certain conditions as set out in the Emira FSP Vesting dates: The shares will vest in equal tranches on 15 October 2023, 15 October 2024 and 15 October 2025, respectively Class of securities: Ordinary shares Type of interest: Direct beneficial Clearance to deal obtained: Yes Name of executive director: U van Biljon Date of acceptance: 11 November 2020 Number of shares accepted: 397 886 Issue price: Rnil (Free of charge) Notional value of transaction (based R2 602 174.44 on an implied price of R6.54 per Emira share, being the closing price on the date immediately preceding the date of this announcement ): Nature of transaction: Off-market acceptance of shares acquired by Emira in the market and awarded in terms of the Emira FSP, which shares will vest on the satisfaction of certain conditions as set out in the Emira FSP Vesting dates: The shares will vest in equal tranches on 15 October 2023, 15 October 2024 and 15 October 2025, respectively Class of securities: Ordinary shares Type of interest: Direct beneficial Clearance to deal obtained: Yes Bryanston 11 November 2020 Sponsor Questco Corporate Advisory Proprietary Limited Debt Sponsor Rand Merchant Bank (a division of FirstRand Bank Limited) Date: 11-11-2020 02:02:00 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.