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”)

DISPOSAL OF AN INDIRECT BENEFICIAL INTEREST IN EMIRA SHARES BY DIRECTORS

Shareholders and noteholders are advised that Geoff Jennett, Greg Booyens and Ulana van Biljon
(collectively, “the Executive Directors”) have, with effect from 9 July 2023, entered into an agreement
to dispose of their respective beneficial interests in The ESA Trust, which includes their rights,
obligations and entitlements in respect of the 7 200 000 Emira shares held by The ESA Trust, for an
aggregate consideration of R9 954 864 (“the Consideration”) by means of an off-market disposal (the
“ESA Trust Disposal”). The ESA Trust Disposal remains subject to the fulfilment, or waiver (as the case
may be) of certain conditions precedent.

The ESA Trust was established in 2019 to facilitate Emira’s executive directors’ share ownership
scheme, utilising funding from third parties and Emira in accordance with the Emira Share Subscription
Scheme. The portion of the Consideration paid to each of the Executive Directors in respect of the ESA
Trust Disposal represents the proportion of the equity attributable to their respective interests in Emira
shares after all loans from third parties and Emira to The ESA Trust have been taken into account.

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 ESA Trust
Disposal:

Name of director:                        Geoff Jennett
Name of associate:                       The ESA Trust
Nature and extent of director’s          Geoff Jennett is a trustee and beneficiary of The ESA Trust
interest:
Type of interest:                        Indirect beneficial
Date of transaction:                     9 July 2023
Nature of transaction:                   Off-market disposal of beneficial interest in The ESA Trust,
                                         which holds Emira shares
Class of securities:                     Ordinary shares
Number of shares beneficially            3 168 000
interested in:
Implied price attributable to an Emira   R13.44
share:
Total consideration received net of      R4 380 140
loans from third parties and Emira to
The ESA Trust:
Clearance to deal obtained:              Yes

Name of director:                        Greg Booyens
Name of associate:                       The ESA Trust
Nature and extent of director’s          Greg Booyens is a trustee and beneficiary of The ESA Trust
interest:
Type of interest:                        Indirect beneficial
Date of transaction:                     9 July 2023
Nature of transaction:                   Off-market disposal of beneficial interest in The ESA Trust,
                                         which holds Emira shares
Class of securities:                     Ordinary shares
Number of shares beneficially            2 016 000
interested in:
Implied price attributable to an Emira   R13.44
share:
Total consideration received net of      R2 787 362
loans from third parties and Emira to
The ESA Trust:
Clearance to deal obtained:              Yes

Name of director:                        Ulana van Biljon
Name of associate:                       The ESA Trust
Nature and extent of director’s          Greg Booyens is a trustee and beneficiary of The ESA Trust
interest:
Type of interest:                        Indirect beneficial
Date of transaction:                     9 July 2023
Nature of transaction:                   Off-market disposal of beneficial interest in The ESA Trust,
                                         which holds Emira shares
Class of securities:                     Ordinary shares
Number of shares beneficially            2 016 000
interested in:
Implied price attributable to an Emira   R13.44
share:
Total consideration received net of      R2 787 362
loans from third parties and Emira to
The ESA Trust:
Clearance to deal obtained:              Yes


Bryanston

14 July 2023




Sponsor
Questco Corporate Advisory Proprietary Limited


Debt Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)