Accelerate Property Fund Limited
                                                                           Management Office 1st Floor
                                                                         Cedar Square Shopping Centre
                                                                                             Willow Ave
                                                                                              Fourways
                                                                                          Johannesburg
                                                                                                   2055
                                                                                      Tel: 010 001 0790



Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
LEI Number: 3789008641F1D3D90E85
(Approved as a REIT by the JSE)
Bond code: APF07 ISIN: ZAG000152141
Bond code: APF09 ISIN: ZAG000152760
(“Accelerate” or the “Issuer”)


NOTIFICATION OF CAPITAL REDUCTION OF LISTED DEBT SECURITIES AND ACCRUED INTEREST
PAYMENT

In accordance with the Terms and Conditions of Accelerate’s ZAR5,000,000,000.00 Domestic
Medium Term Note Programme dated 9 September 2014, noteholders are herewith advised of the
following capital reductions of the APF07 and APF09 notes (collectively the “Notes”) effective 10
March 2023 and the accrued interest paid thereon.

Bond code:                                                  APF07
ISIN:                                                       ZAG000152141
Nominal amount before reduction:                            ZAR 32 233 000.00
Reduction of nominal amount:                                ZAR 14 325 778.00
Nominal amount after reduction:                             ZAR 17 907 222.00
Settlement amount:                                          ZAR 14 601 245.05
Accrued interest amount:                                    ZAR 260 775.47 included in the
                                                            settlement amount
Annualised interest rate:                                   9.358%
Interest period:                                            28 December 2022 to 9 March
                                                            2023
Pay date of the repurchase:                                 10 March 2023
Effective date of the reductions in nominal amount:         10 March 2023

Bond code:                                                  APF09
ISIN:                                                       ZAG000152760
Nominal amount before reduction:                            ZAR 182 000 000.00
Reduction of nominal amount:                                ZAR 16 185 122.00
Nominal amount after reduction:                             ZAR 165 814 878.00
Settlement amount:                                          ZAR 16 373 450.31
Accrued interest amount:                                    ZAR 184 143.23 included in the
                                                            settlement amount
Annualised interest rate:                                   9.438%
Interest period:                                            24 January 2023 to 9 March 2023
Pay date of the repurchase:                                     10 March 2023
Effective date of the reductions in nominal amount:             10 March 2023


This capital reduction is due to the repurchase of the Notes by the Issuer.



9 March 2023

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)