INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Bond Code: INV ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") Compliance with Financial Covenants – as at 31 March 2023 Pursuant to the Domestic Medium Term Note Programme, dated 04 June 2019, and referred to in the Applicable Pricing Supplements, Investec Property Fund Limited has complied, in all material respects, with the relevant financial loan covenants as at 31 March 2023 in respect of the financial covenants as follows: a) The group issuer interest cover ratio is at least 2 times; b) The group issuer loan to value does not exceed 50%; c) The group encumbered assets to value ratio does not exceed 70%; d) The group Net Asset Value is greater than R7,000,000,000; and e) The individual tranche loan to value does not exceed 60%. 19 July 2023 Debt sponsor Investec Bank Limited