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: 378900D514788C447E45 (Approved as a REIT by the JSE) (“Accelerate” or the “Issuer”) FINANCIAL COVENANTS NOTIFICATION Noteholders of the APF07, APF09, APF14, APF16, APF18 and APF19 notes (collectively the “notes”) listed by the Issuer are advised of the following financial covenant requirements applicable to the notes for the measurement period ended 31 March 2023 (“Measurement Period”): • the Loan to Value Ratio does not exceed 50%; • the Secured Properties Loan to Value Ratio does not exceed 50%; • the Interest Cover Ratio shall be greater than 1.7 times; and • the Secured Properties Interest Cover Ratio shall be greater than 1.7 times. Accelerate wishes to further advise noteholders that the testing of the Issuer’s compliance with the financial covenants for the Measurement Period has been completed and has been successfully passed. Accelerate confirms that: • the Loan to Value Ratio measures at 44,8%; • the Secured Properties Loan to Value Ratio measures at 47,5%; • the Interest Cover Ratio measures at 1.8 times; and • the Secured Properties Interest Cover Ratio measures at 1.8 times. The compliance certificate is available for inspection at Accelerate’s registered office during normal working hours. 26 July 2023 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)