ACCELERATE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration No 2005/015057/06) JSE code: APF ISIN code: ZAE000185815 Bond company code: APFE LEI: 378900D514788C447E45 (REIT status approved) ("Accelerate" or the “Company") ASSIGNMENT OF CREDIT RATINGS Noteholders are advised that GCR Ratings has assigned a credit rating of CCC+(ZA)(EL) to the APF23 and APF24 notes issued by Accelerate on 31 March 2025 with effect from 31 March 2025. The outlook on the APF23 and APF24 notes is Rating Watch Negative. Concurrently, GCR Ratings has withdrawn the long-term issue rating on Accelerate’s APF18, APF19 and APF21 Senior Secured Notes following their full capital redemption. Fourways 31 March 2025 Equity and Debt Sponsor Questco Corporate Advisory