COMMERCIAL PROPERTY REPORT February 2016

This report highlights property transactions with a value of more than R5million that have occurred since January 2012 and should be viewed in conjunction with the Property section in www.sarevealed.co.za which carries all the transactions in a spatial environment.

SA Revealed has taken every care in compiling information and material for this report, but will not be held responsible for any loss, damage or inconvenience caused as a result of any inaccuracy or error contained in this report

Tel: +27 11 463 6327‡Fax: +27 11 706 1804‡www.sarevealed.co.za Moraine House, The Braes,193 Bryanston Drive Bryanston, , SA Revealed (Pty) Ltd ‡Registration Number 2011/112308/07 OVERVIEW OF REPORT AND WEBSITE

This COMMERCIAL PROPERTY REPORT and the PROPERTY section of the SA Revealed website www.co.za should be used in conjunction, and provides a comprehensive view of the Commercial Property environment in South Africa

EVERYTHING IN THE REPORT CAN BE EXAMINED IN DETAIL ON THE WEBSITE

The website is updated by the fifth of every month and the report is published by the tenth of the month. The updates are governed by the feed date of the transactions from the Deeds Office

The segmentation of location ³Node´ and buyer ³Owner´ are reflected in the Report and can be viewed by selection on the Website

Large Transactions and Large Bonds ±These sections of the website focus on data from January 2013, where the property owner is a non-person, and the purchase or bond value is greater than R5million. The detail of the individual transactions can be seen on the map on the, whilst aggregation allows for the information to be reflected in the report. Filters can be used to view the data on the website. We have not removed related transactions (eg. portfolio consolidation within related companies) and this could have an impact on overall number

Listed Property ±This section covers all properties owned by listed property companies

Cadastral ±This layer shows the property boundaries of properties in the country, described by the property description. By searching for a property in this section, the property can be identified and Google aerial photography, and Street View can be used to view the property. We will shortly link ownership information to this section

Investment Heat Map ±There are three levels of information shown as hexagon layers. The layers open at different zoom levels. The full view of South Africa shows the large hexagons of around 288km2 in area, the medium hexagons show an area of around 6.5km2, and the small hexagon layer an area of 1.6km2. Each hexagon carries a ranking in accordance with the relative level of investment in that hexagon (1 being the highest level)

2 1 February 2016 Summary

The data reflects transactions over R5 million that were processed through the Deeds Office from January 2013, showing transactions for the month of February 2016, the last 12 months, the cumulative position for the current year, and the full view for 2015, 2014 and 2013

1.1 Executive Summary

The following are the highlights for February 2016:

‡ Top areas over past 24 months (based on small hexagon layer - the Hexagon ID is shown below and can be Searched on the map):

Description Hexagon ID Investment (R million)

Johannesburg - Central 633121 7,131,766 Johannesburg - Bryanston/ 637387 2,678,824 Johannesburg - CBD/ 627406 2,414,130 - Foreshore 17279 2,358,735 Johannesburg - /Kyalami 640239 2,308,886 Johannesburg - Central Sandton 633120 2,069,991 Ekurhuleni - Alberton 621677 2,048,443 Cape Town - Downtown Cape Town CBD 16167 2,024,811 Tshwane - Centurion 647500 2,000,000 Ekurhuleni - Edenvale 631709 1,932,693 - Central Pretoria CBD 656149 1,536,971 Cape Town - Southern Suburbs 13959 1,415,186 KwaDukuza 350931 1,342,249 Johannesburg - Rosebank/Melrose 630264 1,294,673 Cape Town - Bantry Bay 16161 1,266,471 Tshwane - Pretoria East 653374 1,138,510 Johannesburg - CBD/Braamfontein 625980 1,039,633 Durban - Central 321324 1,037,954 Tshwane - CBD 656157 1,003,156 Durban - North 328715 1,002,229

3 1.2 Owner Segment

The transactional activity is broken into the following Owner segments (Rand Mill):

Owner Segment 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 COMMERCIAL 50,452 52.7% 51,717 49.2% 72,370 61.0% 11,025 46.2% 75,647 59.0% 5,463 47.8% LISTED PROP COMP 20,090 21.0% 25,860 24.6% 20,836 17.6% 9,414 39.5% 28,607 22.3% 4,648 40.7% TRUST 11,683 12.2% 12,369 11.8% 16,093 13.6% 1,908 8.0% 15,464 12.1% 921 8.1% EMERGING PORTFOLIO 2,555 2.7% 5,205 4.9% 1,548 1.3% 947 4.0% 2,068 1.6% 43 0.4% GOVERNMENT 5,820 6.1% 3,297 3.1% 3,906 3.3% 405 1.7% 3,665 2.9% 269 2.4% MINES 766 0.8% 1,141 1.1% 891 0.8% 58 0.2% 836 0.7% 25 0.2% RESIDENTIAL DEVELOPMENT 1,682 1.8% 1,689 1.6% 1,353 1.1% 42 0.2% 933 0.7% 42 0.4% CHURCH/EDUCATION 97 0.1% 495 0.5% 375 0.3% 36 0.1% 315 0.2% 0 0.0% STUDENT ACCOMMODATION 65 0.1% 44 0.0% 88 0.1% 10 0.0% 98 0.1% 10 0.1% BANK 2,301 2.4% 1,876 1.8% 465 0.4% 0 0.0% 169 0.1% 0 0.0% INVESTMENT 134 0.1% 1,483 1.4% 670 0.6% 0 0.0% 456 0.4% 0 0.0% Total 95,645 105,177 118,594 23,843 128,258 11,419

Table 1: 2016 Transactions by Owner Segment

Over time, as the companies are being researched and classified into the appropriate owner segments, the Commercial Segment will reduce and the Second Tier and Residential Development segments will increase.

4 1.3 Market Share

The bonds taken out for the period, in terms of values (Rand Mill) and volumes:

1.3.1 Value

2013 2014 2015 2016 YTD Mar 2015 - Feb 2016 February 2016

ABSA 7,871 8.6% 9,207 10.1% 20,045 16.4% 2,245 11.0% 21,099 16.2% 1,214 13.3% BIDVEST 44 0.0% 266 0.3% 26 0.0% 0 0.0% 26 0.0% 0 0.0% FIRSTRAND 12,974 14.1% 11,234 12.3% 16,165 13.2% 2,120 10.4% 16,477 12.6% 1,076 11.8% GRINDROD 684 0.7% 523 0.6% 1,030 0.8% 0 0.0% 930 0.7% 0 0.0% INVESTEC 17,116 18.6% 22,771 25.0% 27,322 22.3% 4,410 21.7% 29,393 22.5% 1,734 19.0% 37,647 40.9% 30,123 33.1% 40,685 33.2% 4,644 22.8% 41,670 32.0% 2,144 23.5% STANDARD 15,323 16.6% 16,488 18.1% 16,832 13.7% 6,924 34.0% 20,414 15.7% 2,952 32.4% TUHF 398 0.4% 501 0.5% 427 0.3% 0 0.0% 344 0.3% 0 0.0% Total 92,057 91,113 122,532 20,343 130,353 9,120

5 1.3.1 Value (Continued)

The following table shows the bond values (Rand Mill) for the different bond sizes:

Bond Year ABSA BIDVEST FIRSTRAND GRINDROD INVESTEC NEDBANK STANDARD TUHF

A: R5 mill - R10 mill 2013 2,141 14 2,565 40 1,353 2,427 1,344 53 2014 2,171 22 2,507 19 1,758 2,547 1,632 100 2015 2,561 13 2,747 60 2,108 2,803 1,831 29 2016 YTD 351 0 464 0 370 395 392 0 Mar 2015 - Feb 2016 2,563 13 2,876 43 2,195 2,814 1,909 0 February 2016 180 0 195 0 160 180 190 0 B: R10 mill - R50 mill 2013 2,935 30 4,595 430 6,519 8,217 3,510 345 2014 4,429 164 3,645 49 6,752 10,194 3,888 256 2015 5,270 13 5,198 420 8,157 9,507 4,176 275 2016 YTD 670 0 866 0 1,524 1,633 949 0 Mar 2015 - Feb 2016 5,228 13 5,180 337 9,025 9,727 4,518 221 February 2016 330 0 356 0 697 652 286 0 C: R50 mill - R100 mill 2013 1,035 0 1,489 214 3,420 6,375 2,320 0 2014 876 80 1,211 195 2,875 5,888 2,038 145 2015 1,624 0 1,657 240 5,537 5,859 3,398 123 2016 YTD 366 0 230 0 1,350 1,101 783 0 Mar 2015 - Feb 2016 1,990 0 1,606 240 6,054 5,848 3,680 123 February 2016 166 0 70 0 332 597 276 0 D: R100 mill - R450 mill 2013 1,278 0 2,112 0 5,824 9,798 4,694 0 2014 1,731 0 2,007 260 6,327 9,344 3,330 0 2015 3,555 0 3,498 310 9,890 11,584 6,257 0 2016 YTD 858 0 560 0 1,166 1,515 2,600 0 Mar 2015 - Feb 2016 4,283 0 3,750 310 10,489 12,349 6,937 0 February 2016 538 0 455 0 545 715 0 0 E: Above R450 mill 2013 482 0 2,213 0 0 10,830 3,455 0 2014 0 0 1,864 0 5,059 2,150 5,600 0 2015 7,035 0 3,065 0 1,630 10,932 1,170 0 2016 YTD 0 0 0 0 0 0 2,200 0 Mar 2015 - Feb 2016 7,035 0 3,065 0 1,630 10,932 3,370 0 February 2016 0 0 0 0 0 0 2,200 0

6 1.3.2 Volume - No of Bonds

2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 ABSA 493 16.5% 554 17.4% 682 18.6% 96 15.4% 693 18.3% 48 17.7% BIDVEST 3 0.1% 11 0.3% 3 0.1% 0 0.0% 3 0.1% 0 0.0% FIRSTRAND 634 21.2% 577 18.1% 684 18.7% 121 19.4% 708 18.7% 52 19.2% GRINDROD 24 0.8% 9 0.3% 29 0.8% 0 0.0% 23 0.6% 0 0.0% INVESTEC 546 18.3% 619 19.4% 765 20.9% 142 22.8% 822 21.7% 60 22.1% NEDBANK 844 28.2% 937 29.4% 939 25.7% 150 24.1% 960 25.4% 64 23.6% STANDARD 420 14.0% 454 14.2% 538 14.7% 114 18.3% 559 14.8% 47 17.3% TUHF 26 0.9% 27 0.8% 19 0.5% 0 0.0% 12 0.3% 0 0.0% Total 2,990 3,188 3,659 623 3,780 271

7 1.3.2 Volume - No of bonds (Continued)

Bond Year ABSA BIDVEST FIRSTRAND GRINDROD INVESTEC NEDBANK STANDARD TUHF

A: R5 mill - R10 mill 2013 307 12.0% 2 10.0% 362 13.0% 5 5.9% 190 6.4% 340 8.7% 195 9.1% 8 9.5% 2014 311 12.1% 4 20.0% 354 12.8% 3 3.5% 255 8.6% 353 9.1% 233 10.9% 15 17.9% 2015 363 14.1% 2 10.0% 389 14.0% 7 8.2% 290 9.8% 391 10.0% 262 12.3% 5 6.0% 2016 YTD 50 1.9% 0 0.0% 70 2.5% 0 0.0% 53 1.8% 53 1.4% 55 2.6% 0 0.0% Mar 2015 - Feb 2016 363 14.1% 2 10.0% 411 14.8% 5 5.9% 304 10.3% 391 10.0% 271 12.7% 0 0.0% February 2016 25 1.0% 0 0.0% 29 1.0% 0 0.0% 23 0.8% 24 0.6% 27 1.3% 0 0.0% B: R10 mill - R50 mill 2013 164 6.4% 1 5.0% 241 8.7% 16 18.8% 276 9.3% 359 9.2% 161 7.6% 18 21.4% 2014 223 8.7% 6 30.0% 191 6.9% 3 3.5% 285 9.6% 442 11.4% 172 8.1% 10 11.9% 2015 268 10.4% 1 5.0% 254 9.1% 17 20.0% 344 11.6% 400 10.3% 193 9.1% 12 14.3% 2016 YTD 37 1.4% 0 0.0% 45 1.6% 0 0.0% 63 2.1% 73 1.9% 41 1.9% 0 0.0% Mar 2015 - Feb 2016 271 10.6% 1 5.0% 256 9.2% 13 15.3% 376 12.7% 415 10.7% 206 9.7% 10 11.9% February 2016 19 0.7% 0 0.0% 20 0.7% 0 0.0% 29 1.0% 28 0.7% 15 0.7% 0 0.0% C: R50 mill - R100 mill 2013 14 0.5% 0 0.0% 19 0.7% 3 3.5% 50 1.7% 83 2.1% 32 1.5% 0 0.0% 2014 11 0.4% 1 5.0% 17 0.6% 2 2.4% 39 1.3% 80 2.1% 27 1.3% 2 2.4% 2015 23 0.9% 0 0.0% 23 0.8% 3 3.5% 78 2.6% 77 2.0% 45 2.1% 2 2.4% 2016 YTD 5 0.2% 0 0.0% 3 0.1% 0 0.0% 19 0.6% 16 0.4% 10 0.5% 0 0.0% Mar 2015 - Feb 2016 28 1.1% 0 0.0% 22 0.8% 3 3.5% 85 2.9% 79 2.0% 48 2.3% 2 2.4% February 2016 2 0.1% 0 0.0% 1 0.0% 0 0.0% 5 0.2% 8 0.2% 4 0.2% 0 0.0% D: R100 mill - R450 mill 2013 7 0.3% 0 0.0% 9 0.3% 0 0.0% 30 1.0% 53 1.4% 26 1.2% 0 0.0% 2014 9 0.4% 0 0.0% 12 0.4% 1 1.2% 35 1.2% 58 1.5% 18 0.8% 0 0.0% 2015 22 0.9% 0 0.0% 16 0.6% 2 2.4% 50 1.7% 59 1.5% 36 1.7% 0 0.0% 2016 YTD 4 0.2% 0 0.0% 3 0.1% 0 0.0% 7 0.2% 8 0.2% 7 0.3% 0 0.0% Mar 2015 - Feb 2016 25 1.0% 0 0.0% 17 0.6% 2 2.4% 54 1.8% 63 1.6% 31 1.5% 0 0.0% February 2016 2 0.1% 0 0.0% 2 0.1% 0 0.0% 3 0.1% 4 0.1% 0 0.0% 0 0.0% E: Above R450 mill 2013 1 0.0% 0 0.0% 3 0.1% 0 0.0% 0 0.0% 9 0.2% 6 0.3% 0 0.0% 2014 0 0.0% 0 0.0% 3 0.1% 0 0.0% 5 0.2% 4 0.1% 4 0.2% 0 0.0% 2015 6 0.2% 0 0.0% 2 0.1% 0 0.0% 3 0.1% 12 0.3% 2 0.1% 0 0.0% 2016 YTD 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 1 0.0% 0 0.0% Mar 2015 - Feb 2016 6 0.2% 0 0.0% 2 0.1% 0 0.0% 3 0.1% 12 0.3% 3 0.1% 0 0.0% February 2016 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 1 0.0% 0 0.0%

8 1.4 Highest Transactions and Bonds

The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 973,911,808 REDEFINE PROP LTD FOUNTAINHEAD PROP TRUST CAPE TOWN~53770~00000 CLAREMONT CAPE TOWN - SCHEME SOUTHERN SUBURBS CAPE TOWN~54756~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 2 911,462,954 CAPITAL PROPFUND 2 PTY LTD PANGBOURNE PROP LTD ISANDO~519~00000 ISANDO EKURHULENI - BOKSBURG 3 773,023,396 INVESTEC PROP FUND LTD ZEVENWACHT VILLAGE CENTRE ~21425~00000 VREDELUST CAPE TOWN - EAST PROP TRUST 4 690,000,000 MAIN STREET 1310 PTY LTD NAMPAK PRODUCTS LTD BELLVILLE~25158~00000 BELLVILLE SOUTH CAPE TOWN - INDUSTRIAL VOORTREKKER ROAD IR~143~00008 EKURHULENI - ALBERTON IR~143~00020 EKURHULENI - ALBERTON IR~143~00023 EKURHULENI - ALBERTON 5 473,248,735 REDEFINE PROP LTD HYPROP INV LTD GREENSTONE PARK~11~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE GREENSTONE PARK~13~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE GREENSTONE PARK~15~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE 6 410,235,243 INVESTEC PROP FUND LTD TRUZEN 102 TRUST HENVILLE~117~00000 EKURHULENI - BOKSBURG HENVILLE~118~00000 EKURHULENI - BOKSBURG 7 352,388,085 LYNNWOOD BRIDGE OFFICE PARK PTY LTD ATTACQ LTD LYNNWOOD GLEN~684~00000 LYNNWOOD GLEN PRETORIA - EAST 8 230,280,000 LISALINE PTY LTD TELKOM S A LTD IR~83~00772 EKURHULENI - BOKSBURG 9 169,780,792 TRANS-ELANDS BOERDERYMAATSKAPPY GERT SCHOONBEE BELEGGINGS JS~16~00013 PTY LTD PTY LTD JS~17~00001 JS~17~00002 JS~17~00012 JS~24~00013 10 162,900,000 ATTACQ RETAIL FUND PTY LTD MANTRABLOX PTY LTD GEORGE RD~195~00326 11 137,000,000 EQUITES PROP FUND LTD TUNNEY RIDGE PROP PTY LTD TUNNEY~497~00000 EKURHULENI - BOKSBURG 12 136,380,593 UBIZO COMMUNAL PROPERTY CRYSTAL HOLDINGS PTY LTD GU~15824~00026 KWAMETHETHWA ASSOCIATION RESERVE 13 121,121,858 CAPITAL PROPFUND 3 PTY LTD PANGBOURNE PROPERTIES LTD ~22100~00001 FLEURDAL 14 105,387,714 TEXTON PROP FUND LTD MIDNIGHT STORM INV 187 PTY EDENBURG PTA~286~00000 EDENBURG JOHANNESBURG - LTD SUNNINGHILL/ 15 100,000,000 RIVERTOWN CENTRAL PROPRIETARY MARSHALLS GROUP LTD DURBAN~11168~00000 SOUTH BEACH DURBAN - CENTRAL LIMITED DURBAN~11169~00000 SOUTH BEACH DURBAN - CENTRAL DURBAN~11170~00000 SOUTH BEACH DURBAN - CENTRAL DURBAN~11170~00001 SOUTH BEACH DURBAN - CENTRAL DURBAN~11171~00000 SOUTH BEACH DURBAN - CENTRAL DURBAN~11171~00001 SOUTH BEACH DURBAN - CENTRAL DURBAN~11172~00000 SOUTH BEACH DURBAN - CENTRAL DURBAN~11172~00001 SOUTH BEACH DURBAN - CENTRAL DURBAN~11173~00000 SOUTH BEACH DURBAN - CENTRAL DURBAN~11173~00001 SOUTH BEACH DURBAN - CENTRAL MORE PROPERTIES ON TITLE DEED 16 97,198,251 INVESTEC PROPERTY FUND LIMITED TRUZEN 59 TRUST-TRUSTEES WENTWORTH~236~00007 JACOBS DURBAN - SOUTH WENTWORTH~236~00040 JACOBS DURBAN - SOUTH WENTWORTH~237~00000 JACOBS DURBAN - SOUTH 17 96,500,000 CAPITAL PROPFUND PTY LTD PANHOLD PTY LTD JET PARK~500~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~501~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~502~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~503~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~516~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~609~00000 JET PARK EKURHULENI - BOKSBURG 18 92,292,475 CAPITAL PROPFUND 2 PTY LTD IFOUR PROP THREE PTY LTD NOORDWYK~1624~00002 NOORDWYK JOHANNESBURG - MIDRAND/KYALAMI

9 Rank Purchase Price Buyer Seller Erf Key Suburb Node

19 85,000,000 BLUE WAVES PROP 150 PTY LTD SUN INTERNATIONAL SOUTH SANDOWN~575~00005 SANDOWN JOHANNESBURG - AFRICA LTD SANDTON 20 75,000,000 K2015315375 SOUTH AFRICA PTY LTD ST MUNGO PROP C C CLIFTON~5~00000 CLIFTON CAPE TOWN - ATLANTIC SEABOARD 21 74,538,096 REDEFINE PROP LTD ABSA BANK LTD BRYANSTON~5582~00006 BRYANSTON JOHANNESBURG - BRYANSTON 22 71,000,000 SWISH PROP TWENTY TWO PTY LTD ERIS PROP FUND PTY LTD CAPE TOWN~146708~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 23 66,872,074 CAPITAL PROPFUND PROPRIETARY LIMITED PANGBOURNE PROPERTIES LTD ISIPINGO~2258~00000 PROSPECTON DURBAN - SOUTH INDUSTRIAL 24 66,000,000 FRAQUR 101 PTY LTD COETZEE MARIUS HUGO KQ~306~00007 25 65,177,904 CAPITAL PROPFUND PTY LTD CAPITAL PROPFUND PTY LTD WESTLAKE VIEW~38~00000 LAKESIDE JOHANNESBURG - LINBRO PARK/GREENSTONE 26 64,000,000 DELTA PROP FUND LTD T B Z MANAGEMENT & INV CO CAPE TOWN~5177~00000 CAPE TOWN - PROP LTD SOUTHERN SUBURBS CAPE TOWN~5178~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 27 61,366,000 ONELOGIX PROPRIETARY LIMITED AFRO PROP NATAL FT~885~00773 PROPRIETARY LIMITED FT~885~00854 28 60,456,747 JARRABILLA INV PTY LTD STYLESTAR INV PTY LTD THOHOYANDOU-G~439~00001 THOHOYANDOU G 29 57,000,000 AMBER BAY INV 42 PTY LTD RABONI PROP CC FERNDALE~1884~00000 FERNDALE JOHANNESBURG - LUVON INV PTY LTD RABONI PROP CC FERNDALE~1884~00000 FERNDALE JOHANNESBURG - RANDBURG 30 56,500,000 LIMOTORQUE PTY LTD FORTRESS INCOME 2 PTY LTD QUEENSTOWN~2073~00000 QUEENSTOWN CENTRAL 31 55,200,000 VALUMAX MIDRAND PTY LTD SUMMER SYMPHONY PROP 264 JR~410~00207 EKURHULENI - KEMPTON CC PARK 32 55,000,000 ZUKA PROPERTIES PROPRIETARY LIMITED ROBERTS STEFANUS JOHANNES HV~17714~00000 LOURENS 33 53,432,500 MENLYN MAINE HOTEL TRUST MENLYN MAINE INV HOLDINGS WATERKLOOF GLEN~883~00002 PRETORIA - EAST PTY LTD 34 53,000,000 CIENDO 44 PTY LTD WRIGHTS KARREEKLOOF HOPETOWN RD~124~00000 ESTATES PTY LTD HOPETOWN RD~126~00001 HOPETOWN RD~126~00002 HOPETOWN RD~127~00000 HOPETOWN RD~127~00001 HOPETOWN RD~127~00002 HOPETOWN RD~128~00000 HOPETOWN RD~128~00001 HOPETOWN RD~128~00002 HOPETOWN RD~181~00002 MORE PROPERTIES ON TITLE DEED 35 51,698,509 REDEFINE PTY LTD FOUNTAINHEAD PROP TRUST HALFWAY HOUSE~401~00000 HALFWAY HOUSE JOHANNESBURG - SCHEME A COLLECTIVE INV ESTATE MIDRAND/KYALAMI SCHEME IN PROPERTY HALFWAY HOUSE~402~00000 HALFWAY HOUSE JOHANNESBURG - ESTATE MIDRAND/KYALAMI 36 51,300,000 BALWIN PROP PTY LTD ZIKHETHELE TRADE 4 PTY LTD BRYANSTON~5279~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA BRYANSTON~5280~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA 37 50,000,000 AMDEC 08 PTY LTD SERINA INV PTY LTD CAPE RD~1387~00005 NOORDHOEK CAPE TOWN - SOUTHERN SUBURBS GROWTHPOINT PROP LTD S A RETAIL PROP PTY LTD ANDERBOLT~438~00001 EKURHULENI - BOKSBURG ANDERBOLT~8~00000 ANDERBOLT EKURHULENI - BOKSBURG 38 48,750,000 IHS FUND II SA RENTAL TRUST 2 BALWIN PROP LTD OAKDENE~754~00000 EKURHULENI - BEDFORDVIEW 39 48,678,540 URBAN STEYN PTY LTD ARTISANS TRUST CITY & SUBURBAN~1156~00000 CITY & SUBURBAN JOHANNESBURG - CBD/BRAAMFONTEIN CITY & SUBURBAN~1182~00001 CITY & SUBURBAN JOHANNESBURG - CBD/BRAAMFONTEIN CITY & SUBURBAN~423~00001 CITY & SUBURBAN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~661~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~662~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~663~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~664~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~665~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~666~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~667~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN MORE PROPERTIES ON TITLE DEED 40 47,000,000 OZMIK PROP INV PTY LTD DIV-PROP 14 PTY LTD NIEUW MUCKLENEUK~426~00000 PRETORIA - BROOKLYN 41 46,740,000 ABZUBIX PTY LTD INVESTEC PROP FUND LTD RANDJESPARK~84~00000 RANDJESPARK JOHANNESBURG - MIDRAND/KYALAMI

10 Rank Purchase Price Buyer Seller Erf Key Suburb Node

41 46,740,000 GOVERNMENT EMPLOYEES PENSION FUND CITY OF TSHWANE ERASMUSKLOOF~671~00000 ERASMUSKLOOF PRETORIA - EAST METROPOLITAN MUNICIPALITY ERASMUSKLOOF~674~00000 ERASMUSKLOOF PRETORIA - EAST 42 45,030,000 INDEPENDENT INSTITUTE OF EDUCATION WINTER BREEZE TRADING 105 IQ~190~00140 RUIMSIG AH JOHANNESBURG - WEST PTY LTD PTY LTD 43 45,000,000 OBSERVATORY INV HOLDINGS LTD GARRATT RICHARD EDWARD CONSTANTIA~5179~00000 NOVA CONSTANTIA CAPE TOWN - SOUTHERN SUBURBS 44 44,840,000 UNITED AFRICAN MARINE MICAWBER 309 PTY LTD LA LUCIA~2831~00000 LA LUCIA DURBAN - NORTH BROKERS PROPRIETARY LIMITED 45 41,040,000 BABYLONSTOREN PTY LTD BACKSBERG TRUST PAARL RD~1380~00007 CAPE TOWN - NORTHERN SUBURBS PAARL RD~1380~00008 CAPE TOWN - NORTHERN SUBURBS PAARL RD~1380~00009 CAPE TOWN - NORTHERN SUBURBS 46 40,625,000 IHS FUND II SA RENTAL TRUST 2 BALWIN PROP LTD OAKDENE~754~00000 EKURHULENI - BEDFORDVIEW 47 40,000,000 JOHNNEY KENAREN HOLDINGS (PTY) LTD STADLERS RUST TRUST- FS~15602~00001 TRUSTEES FS~15602~00003 FS~15602~00006 FS~9086~00000 48 39,858,650 BO MATROOSBERG BOERDERY PTY LTD ELJOHNA DU TOIT TRUST WORCESTER RD~318~00001 WORCESTER RD~319~00014 WORCESTER RD~319~00036 WORCESTER RD~319~00037 WORCESTER RD~319~00038 WORCESTER RD~319~00059 WORCESTER RD~871~00000 49 39,348,765 CAPITAL PROPFUND 2 PTY LTD PANGBOURNE PROP LTD PAULSHOF~991~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA 50 34,623,120 ORTHOTOUCH LTD ZEPHAN PROPERTIES PTY LTD KROONSTAD~184~00000 KROONSTAD CBD KROONSTAD~185~00000 KROONSTAD CBD KROONSTAD~186~00000 KROONSTAD CBD KROONSTAD~5250~00000 KROONSTAD CBD

Directors for these companies were:

Rank Buyer First Name Surname

1 REDEFINE PROP LTD MARIUS BARKHUYSEN PHUMZILE LANGENI BERNARD NACKAN DAVID HUW RICE MARC WAINER HARISHKUMAR KANTILAL MEHTA MICHAEL JOHN RUTTLE BRONWYN BAKER MICHAEL JOHN WATTERS ANDREW JOSEPH KONIG DAVID ALAN NATHAN GUNTER ZEND STEFFENS LEON CHRISTIAAN KOK NOMALIZO BERYL LANGA-ROYDS 2 CAPITAL PROPFUND 2 PTY LTD BERNITA SCHAPER ANDREW TEIXEIRA BARRY LESTER STUHLER ABRAHAM ALBERTUS BORNMAN 3 INVESTEC PROP FUND LTD ANDREW ROBERT WOOLER NICHOLAS PETER RILEY LUIGI LUCA MARIA GIURICICH MORESTAT CORPORATE SERVICES SAMUEL RONALD LEON GRAHAM ROBERT ROSENTHAL MOSES MODIDIMA NGOASHENG SAM HACKNER SULIMAN MAHOMED KHUMO LESEGO SHUENYANE CONSTANCE MATSHAGA MASHABA 4 MAIN STREET 1310 PTY LTD GARTH NORMAN TOWELL ASOGAN BALACHANDREN PILLAY GRANT MICHAEL PATTISON MORESTAT CORPORATE SERVICES JOANNE CLARE SINEY-GOULD SHAUN ZAGNOEV RICHARD FIENBERG 11 4 MAIN STREET 1310 PTY LTD TIMOTHY SOUTER DION PETER DE GRAAFF 7 LYNNWOOD BRIDGE OFFICE PARK PTY LTD MORNE CORNELIUS WILKEN MELT HAMMAN 8 LISALINE PTY LTD IAIN ROBERTSON DOUGLAS DYLAN ARTHUR BARRY MCNAMARA 9 TRANS-ELANDS BOERDERYMAATSKAPPY PTY LTD CHRISTINA HENDRINA UPTON GERT STEPHANUS SCHOONBEE 10 ATTACQ RETAIL FUND PTY LTD MELT HAMMAN MORNE CORNELIUS WILKEN 11 EQUITES PROP FUND LTD ANDREA TAVERNA TURISAN GIANCARLO LANFRANCHI PHILIP LEON CAMPHER GERHARD RIAAN GOUS BRAM GOOSSENS NAZEEM KHAN RUTH ELEANOR BENJAMIN-SWALES KEVIN DREYER 13 CAPITAL PROPFUND 3 PTY LTD BERNITA SCHAPER MARK WALTER STEVENS ANDREW TEIXEIRA 14 TEXTON PROP FUND LTD ANGELIQUE NORMA DU HECQUET DE RAUVILLE MATHYS JOHANNES VAN HEERDEN NOSIPHIWO VUYOWETHU BALFOUR JACOB ANIEL WIESE KENNETH RUSSELL COLLINS KYANSAMBO NTOMBI VUNDLA JOHN RUSSELL MACEY PORTIA-MORWESI TAU-SEKATI BRIGITTE DE BRUYN JOHN ALLASTAIR LEGH THANDUXOLO SELBY SISHUBA NICHOLAS MORRIS 15 RIVERTOWN CENTRAL PROPRIETARY LIMITED DAVID GRANT SHARP DARREN LANCE SHUR JONATHAN SIMON LIEBMANN ERIC DAVID HERR 16 INVESTEC PROPERTY FUND LIMITED NICHOLAS PETER RILEY CONSTANCE MATSHAGA MASHABA KHUMO LESEGO SHUENYANE SAM HACKNER SULIMAN MAHOMED MOSES MODIDIMA NGOASHENG GRAHAM ROBERT ROSENTHAL ANDREW ROBERT WOOLER MORESTAT CORPORATE SERVICES LUIGI LUCA MARIA GIURICICH SAMUEL RONALD LEON 17 CAPITAL PROPFUND PTY LTD ANDREW TEIXEIRA WILLEM JAKOB SERFONTEIN MARK WALTER STEVENS ABRAHAM ALBERTUS BORNMAN BERNITA SCHAPER 19 BLUE WAVES PROP 150 PTY LTD PAUL JOHN HAILWOOD JOHAN FRANCK 20 K2015315375 SOUTH AFRICA PTY LTD DANIEL GOLDBERG 22 SWISH PROP TWENTY TWO PTY LTD GIANCARLO LANFRANCHI 23 CAPITAL PROPFUND PROPRIETARY LIMITED BERNITA SCHAPER MARK WALTER STEVENS ABRAHAM ALBERTUS BORNMAN ANDREW TEIXEIRA WILLEM JAKOB SERFONTEIN 24 FRAQUR 101 PTY LTD PIETER IGNATIUS LOURENS DU PLESSIS IRMA DU PLESSIS 26 DELTA PROP FUND LTD SANDILE HOPESON NOMVETE DAVINA NODUMO MOTAU JOSE JORGE GONCALVES DA COSTA NOORAYA KHAN MARELISE DE LANGE PAULA NEL PAUL DAVID SIMPSON IAN DONALD MACLEOD BRONWYN ANNE CORBETT 27 ONELOGIX PROPRIETARY LIMITED NEVILLE JOHN BESTER GEOFFREY MICHAEL GLASS IAN KENNETH LOURENS SIPHO MILA PITYANA 12 27 ONELOGIX PROPRIETARY LIMITED CAMERON VINCENT MCCULLOCH 28 JARRABILLA INV PTY LTD JOHANNES ZACHARIAS MOOLMAN 29 LUVON INV PTY LTD JOHANNES ZACHARIAS MOOLMAN FRIEDERICH SONKE MOOLMAN STEPHANUS BEYERS SONKE MOOLMAN PIETER ANDRIES LOMBAARD JOHANNES ZACHARIAS MOOLMAN AMBER BAY INV 42 PTY LTD JACOBUS PETRUS FOURIE RICHARD MARK O'SULLIVAN JAN HENDRIK KRUGER ETIENNE MARTIN EYGENBERGER LOUIS DE PONTE 30 LIMOTORQUE PTY LTD NICOLAAS HEYNS ROSSOUW 31 VALUMAX MIDRAND PTY LTD HENDRIK FRANCOIS BEKKER ROCCO HUMAN DE KOCK PHILLIP SAUNDERS KOOS TOEBES TEDDY FREDERICK GREAVER 32 ZUKA PROPERTIES PROPRIETARY LIMITED DANIEL PIETER ANTON LOUW MICHAEL KIRKINIS 34 CIENDO 44 PTY LTD WIAAN VAN DER LINDE 35 REDEFINE PTY LTD LEON CHRISTIAAN KOK GUNTER ZEND STEFFENS DAVID ALAN NATHAN ANDREW JOSEPH KONIG MICHAEL JOHN WATTERS BRONWYN BAKER MICHAEL JOHN RUTTLE MARIUS BARKHUYSEN PHUMZILE LANGENI HARISHKUMAR KANTILAL MEHTA MARC WAINER DAVID HUW RICE BERNARD NACKAN NOMALIZO BERYL LANGA-ROYDS 36 BALWIN PROP PTY LTD ULRICH GSCHNAIDTNER MORESTAT CORPORATE SERVICES RODNEY NORMAN GRAY STEPHEN VOLKER BROOKES JONATHAN WELTMAN 37 GROWTHPOINT PROP LTD FREDERICK JOHANNES VISSER ROLAND ARNO KRABBENHOFT LYNETTE ANN STEVENS GERALD VOLKEL ESTIENNE KONRAD DE KLERK PETER HENRY FECHTER JOACOBUS FRANCOIS MARAIS LUDWIG SCHLETTER RAGAVAN MOONSAMY HERMAN SAMTSEU PHILIP MASHABA SEBENZILE PATRICK MNGCONKOLA JOHN CARY HAYWARD HUGH SIDNEY HERMAN NOMPUMELELO BONGEKILE PATRICIA NKABINDE MZOLISI GOODMAN DILIZA AMDEC 08 PTY LTD JAME ALEXANDER WILSON SYBRAND VAN DER SPUY LIESL PETERSEN 39 URBAN STEYN PTY LTD RIAAN JACOBUS PRETORIUS JONATHAN SIMON LIEBMANN RICKY LUNTZ 40 OZMIK PROP INV PTY LTD RASHID ABOOBAKER 41 ABZUBIX PTY LTD HERBERT CEDRICK SADNESS THELEDI 42 INDEPENDENT INSTITUTE OF EDUCATION PTY LTD ALEXANDER ISAAKIDIS SANDRA KAYE SAUNDERS JEAN DIDIER RAICO OESCH ROY JOHN DOUGLAS 44 UNITED AFRICAN MARINE INSURANCE BROKERS PROPRIETARY NIEMESH SINGH LIMITED VANESSA SINGH Nicohlan Singh 45 BABYLONSTOREN PTY LTD JOHANNES PETRUS AUCAMP CHARL HARRIED COETZEE IGNATUS TERBLANCHE DE WAAL CARMEN THERON 47 JOHNNEY KENAREN HOLDINGS (PTY) LTD KAREN SIMMONS GREGORY DEUDNEY SIMMONS 13 48 BO MATROOSBERG BOERDERY PTY LTD MARTHINUS JOHANNES NAUDE STEPHANUS FRANCOIS NAUDE PIETER STEPHANUS NAUDE 50 ORTHOTOUCH LTD JOHANNES FREDERIK KLOPPER CORNELIUS FOURIE MYBURGH NICOLAS GEORGIOU PANAGIOTIS KLEOVOULOU

14 The top commercial mortgages greater than R5 million and limited to 50 in February 2016 are:

Rank Bond Amount Buyer Bank Erf Key Suburb Node First Transaction at

1 2,200,000,000 K2012150042 SOUTH AFRICA PTY LTD STANDARD CAPE TOWN~160060~00000 CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~55246~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~56907~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~57355~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~57456~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~57458~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~57462~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~57464~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~57957~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 201602 2 400,000,000 ZENDAI DEV SOUTH AFRICA PTY LTD ABSA IR~710~00000 LONGLAKE JOHANNESBURG - LINBRO 201602 PARK/GREENSTONE 400,000,000 ZENDAI DEVELOPMENT SOUTH AFRICA PTY ABSA IR~710~00010 JOHANNESBURG - LINBRO 201602 LTD PARK/GREENSTONE 3 270,000,000 ZOTEC DEVELOPMENTS PTY LTD STANDARD POMONA~3636~00000 BRENTWOOD PARK AH EKURHULENI - BENONI 201410 4 260,000,000 BUFFALO CITY METROPOLITAN NEDBANK EAST LONDON~72865~00000 201602 MUNICIPALITY 5 250,000,000 LISALINE PTY LTD FIRSTRAND IR~83~00772 EKURHULENI - BOKSBURG 201602 6 250,000,000 MENLYN MAINE HOTEL TRUST INVESTEC WATERKLOOF GLEN~883~00002 PRETORIA - EAST 201602 7 210,000,000 GRIEKWALAND WES KOOP LTD OTHER BANK MARYDALE~192~00000 MARYDALE 201602 MARYDALE~242~00000 MARYDALE 201602 PRIESKA~1038~00000 PRIESKA 201602 PRIESKA~125~00000 PRIESKA 201602 PRIESKA~3629~00000 PRIESKA 201602 PRIESKA~89~00000 PRIESKA 201602 PRIESKA~91~00000 PRIESKA 201602 210,000,000 GRIEKWALAND WES KORP LTD OTHER BANK MARYDALE~951~00000 MARYDALE 201602 PRIESKA~3891~00000 PRIESKA 201602 210,000,000 MAWE TRUST OTHER BANK PRIESKA~192~00000 PRIESKA 201602 8 205,000,000 GERT SCHOONBEE BELEGGINGS PTY LTD FIRSTRAND JS~16~00000 201602 JS~16~00002 201602 JS~16~00003 201602 JS~16~00004 201602 JS~16~00007 201602 JS~16~00008 201602 JS~16~00014 201602 JS~16~00016 201602 JS~16~00019 201602 205,000,000 TRANS-ELANDS BOERDERYMAATSKAPPY FIRSTRAND JS~16~00013 201602 PTY LTD 205,000,000 MORE PROPERTIES ON TITLE DEED 9 175,000,000 CROSSING PROPERTY INVESTMENT PTY LTD NEDBANK MAFIKENG~4050~00000 MAFIKENG 201602 175,000,000 KOPANANG SHOPPING COMPLEX PTY LTD NEDBANK MAFIKENG~9608~00000 201602 10 160,000,000 RAWSON HOME BUILDERS PTY LTD INVESTEC CAPE TOWN~27666~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 11 160,000,000 WILCOPROP 202 PTY LTD INVESTEC HOMES HAVEN~813~00000 HOMES HAVEN 201307 12 150,000,000 PEARLDALE PROP DEVELOPERS PTY LTD NEDBANK CAPE TOWN~173147~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 201602 13 138,000,000 HUB PTY LTD ABSA CHLOORKOP~5522~00000 EKURHULENI - KEMPTON PARK 201602 14 135,000,000 COLAM PROP PORTFOLIO PTY LTD INVESTEC ~20798~00000 BLOUBERG SANDS CAPE TOWN - 201602 MILNERTON~21173~00000 BLOUBERG SANDS CAPE TOWN - TABLE VIEW 201602 MILNERTON~21174~00000 BLOUBERG SANDS CAPE TOWN - TABLE VIEW 201602 MILNERTON~27998~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 MILNERTON~27999~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 MILNERTON~28000~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 MILNERTON~33249~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 15 130,000,000 SENTRAAL SUID KOOP LTD NEDBANK HEIDELBERG CAPE~1161~00000 HEIDELBERG 201602 HEIDELBERG CAPE~712~00000 HEIDELBERG 201602 MONTAGU RD~158~00044 201602 SWELLENDAM RD~294~00014 201602 SWELLENDAM RD~294~00017 201602 SWELLENDAM RD~294~00018 201602 16 128,000,000 EBERSOHN GYSBERTUS GUILLAUME STANDARD FERNDALE~2139~00000 FERNDALE JOHANNESBURG - RANDBURG 201304 128,000,000 S A W H F S A RENTAL 3 TRUST STANDARD FERNDALE~2139~00000 FERNDALE JOHANNESBURG - RANDBURG 201304 17 105,800,000 INTO VEST PTY LTD NEDBANK ARCADIA~1206~00000 ARCADIA PRETORIA - CBD 201509 ARCADIA~243~00000 ARCADIA PRETORIA - CBD 201509 ARCADIA~427~00000 ARCADIA PRETORIA - CBD 201509 18 105,800,000 INTO VEST PTY LTD NEDBANK ARCADIA~1131~00000 ARCADIA PRETORIA - CBD 201509 19 100,000,000 FOUR RIVERS TRADING 54 PTY LTD ABSA LS~34~00000 201602 20 100,000,000 INFINITY DYNAMIC PROP PTY LTD NEDBANK WITKOPPEN~297~00000 WITKOPPEN JOHANNESBURG - 201602 FOURWAYS/NORTHGATE 21 95,000,000 MALYORK ESTATES PTY LTD INVESTEC CONSTANTIA~4572~00000 SWAANSWYK ROAD CAPE TOWN - SOUTHERN SUBURBS 201602 22 95,000,000 RABIE PROP GROUP PTY LTD NEDBANK MONTAGUE GARDENS~7058~00000 CAPE TOWN - TABLE VIEW 201602 23 90,000,000 ROELAND STREET INV 3 PTY LTD STANDARD KENSINGTON B~149~00000 KENSINGTON B JOHANNESBURG - RANDBURG 201602 24 85,000,000 ANNENPROP 9 PTY LTD NEDBANK HERMANUS~11154~00000 WESTCLIFF 201602 25 75,000,000 RIVERTOWN CENTRAL PROPRIETARY NEDBANK DURBAN~11168~00000 SOUTH BEACH DURBAN - CENTRAL 201602 LIMITED 15 25 75,000,000 RIVERTOWN CENTRAL PROPRIETARY NEDBANK DURBAN~11169~00000 SOUTH BEACH DURBAN - CENTRAL 201602 LIMITED DURBAN~11170~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11170~00001 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11171~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11171~00001 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11172~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11172~00001 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11173~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11173~00001 SOUTH BEACH DURBAN - CENTRAL 201602 75,000,000 MORE PROPERTIES ON TITLE DEED 26 70,000,000 UNIWINES PRODUCTION PTY LTD FIRSTRAND WORCESTER RD~385~00008 201602 WORCESTER RD~417~00005 201602 WORCESTER RD~509~00019 201602 27 70,000,000 AFRO PROP NATAL PROPRIETARY LIMITED INVESTEC FT~885~00773 201602 FT~885~00854 201602 28 70,000,000 UNITED AFRICAN MARINE INSURANCE STANDARD LA LUCIA~2831~00000 LA LUCIA DURBAN - NORTH 201602 BROKERS PROPRIETARY LIMITED 29 66,000,000 FRAQUR 101 PTY LTD ABSA KQ~306~00007 201602 30 65,000,000 VALUMAX MIDRAND PTY LTD NEDBANK JR~410~00207 EKURHULENI - KEMPTON PARK 201602 31 62,500,000 SWISH PROP TWENTY TWO PTY LTD NEDBANK CAPE TOWN~146708~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 201602 32 60,245,000 B K B LTD OTHER BANK BARKLY EAST~1183~00000 BARKLY EAST 201602 BARKLY EAST~1184~00000 BARKLY EAST 201602 BARKLY EAST~1185~00000 BARKLY EAST 201602 BARKLY EAST~1186~00000 BARKLY EAST 201602 BARKLY EAST~1187~00000 BARKLY EAST 201602 BARKLY EAST~1188~00000 BARKLY EAST 201602 BARKLY EAST~1192~00000 BARKLY EAST 201602 BARKLY EAST~1194~00000 BARKLY EAST 201602 BARKLY EAST~1295~00000 BARKLY EAST 201602 BARKLY EAST~1296~00000 BARKLY EAST 201602 60,245,000 MORE PROPERTIES ON TITLE DEED 33 60,245,000 BILLSONS COUTTS PTY LTD OTHER BANK PAARL~28620~00000 SUIDER PAARL 201602 34 60,000,000 HUMANSDORP KOOP LTD NEDBANK HUMANSDORP RD~254~00068 KAREEDOUW 201602 60,000,000 HUMANSDORPSE KOOP LTD NEDBANK HANKEY~2967~00000 PHILIPSVILLE 201602 HUMANSDORP~1087~00000 HUMANSDORP 201602 HUMANSDORP~1134~00000 HUMANSDORP 201602 HUMANSDORP~1898~00000 HUMANSDORP 201602 HUMANSDORP~261~00000 HUMANSDORP 201602 HUMANSDORP~268~00000 HUMANSDORP 201602 JEFFREYS BAY~6705~00000 JEFFREYS BAY 201602 JOUBERTINA RD~300~00052 201602 KAREEDOUW~6~00000 KAREEDOUW 201602 60,000,000 MORE PROPERTIES ON TITLE DEED 35 60,000,000 JARRABILLA INV PTY LTD STANDARD THOHOYANDOU-G~439~00001 THOHOYANDOU G 201602 36 57,000,000 EVENTIDE INV TRUST INVESTEC CLIFTON~532~00000 CLIFTON CAPE TOWN - ATLANTIC SEABOARD 201602 37 56,000,000 CIENDO 44 PTY LTD STANDARD HOPETOWN RD~124~00000 201602 HOPETOWN RD~126~00001 201602 HOPETOWN RD~126~00002 201602 HOPETOWN RD~127~00000 201602 HOPETOWN RD~127~00001 201602 HOPETOWN RD~127~00002 201602 HOPETOWN RD~128~00000 201602 HOPETOWN RD~128~00001 201602 HOPETOWN RD~128~00002 201602 HOPETOWN RD~181~00002 201602 56,000,000 MORE PROPERTIES ON TITLE DEED 38 55,000,000 MIDDLEWAVE TRADE & INV 14 PTY LTD INVESTEC LANSERIA~633~00000 LANSERIA JOHANNESBURG - 201602 FOURWAYS/NORTHGATE LANSERIA~634~00000 LANSERIA JOHANNESBURG - 201602 FOURWAYS/NORTHGATE LANSERIA~635~00000 LANSERIA JOHANNESBURG - 201602 FOURWAYS/NORTHGATE 39 55,000,000 BRICKVEST COMMERCIAL DEVELOPMENT ABSA POTCHEFSTROOM~893~00001 DIE BULT 201508 PTY LTD POTCHEFSTROOM~893~00003 DIE BULT 201508 POTCHEFSTROOM~894~00000 DIE BULT 201508 POTCHEFSTROOM~894~00001 DIE BULT 201508 40 55,000,000 DELTA PROP FUND LTD INVESTEC CAPE TOWN~5177~00000 CAPE TOWN - SOUTHERN SUBURBS 201602 CAPE TOWN~5178~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 201602 41 55,000,000 PROP DEV PTY LTD NEDBANK EDENBURG PTA~142~00000 EDENBURG JOHANNESBURG - 201602 SUNNINGHILL/RIVONIA 42 50,000,000 IDEAFRUIT PTY LTD NEDBANK CALEDON RD~82~00018 CAPE TOWN - 201602 CALEDON RD~82~00021 CAPE TOWN - SOMERSET WEST 201602 43 50,000,000 RENICO CONSTRUCTION PTY LTD STANDARD RIVERSPRAY LIFESTYLE ESTATE~160~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~161~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~162~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~165~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE

16 43 50,000,000 RENICO CONSTRUCTION PTY LTD STANDARD RIVERSPRAY LIFESTYLE ESTATE~179~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~216~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~220~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~221~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~222~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE RIVERSPRAY LIFESTYLE ESTATE~224~00000 RIVERSPRAY LIFESTYLE 201602 ESTATE 50,000,000 MORE PROPERTIES ON TITLE DEED 44 50,000,000 DANGOLD SOUTH AFRICA PTY LTD INVESTEC KLEVE HILL PARK~5~00000 KLEVE HILL PARK JOHANNESBURG - 201602 SUNNINGHILL/RIVONIA 45 47,000,000 ABZUBIX PTY LTD NEDBANK RANDJESPARK~84~00000 RANDJESPARK JOHANNESBURG - MIDRAND/KYALAMI 201602 46 42,000,000 LIMOTORQUE PTY LTD NEDBANK QUEENSTOWN~2073~00000 QUEENSTOWN CENTRAL 201602 47 41,000,000 DAROCOL PTY LTD INVESTEC GREEN POINT~1358~00000 GREEN POINT CAPE TOWN - ATLANTIC SEABOARD 201602 48 40,500,000 DANGOLD SOUTH AFRICA PTY LTD INVESTEC MANUFACTA~138~00000 MANUFACTA JOHANNESBURG - WEST 201602 MANUFACTA~139~00000 MANUFACTA JOHANNESBURG - WEST 201602 49 40,000,000 RAWSON HOME BUILDERS PTY LTD INVESTEC CAPE TOWN~27666~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 50 40,000,000 ARCHIMEDES ONTWIKKELINGS PTY LTD INVESTEC STELLENBOSCH~2355~00000 UNIVERSITEITS OORD CAPE TOWN - SOMERSET WEST 201602 STELLENBOSCH~2357~00000 UNIVERSITEITS OORD CAPE TOWN - SOMERSET WEST 201602

Directors for these companies are:

Rank Buyer First Name Surname

1 K2012150042 SOUTH AFRICA PTY LTD 2 ZENDAI DEV SOUTH AFRICA PTY LTD LETICIA POTTS WENHUI DU LI HUA LI NGAN HUNG WONG JOHANNES ARNOLDUS ANTONIUS DIEPENBROEK ZENDAI DEVELOPMENT SOUTH AFRICA PTY LTD LETICIA POTTS WENHUI DU LI HUA LI NGAN HUNG WONG JOHANNES ARNOLDUS ANTONIUS DIEPENBROEK 3 ZOTEC DEVELOPMENTS PTY LTD ANTON CROUSE 4 BUFFALO CITY METROPOLITAN MUNICIPALITY 5 LISALINE PTY LTD DYLAN ARTHUR BARRY MCNAMARA IAIN ROBERTSON DOUGLAS 6 MENLYN MAINE HOTEL TRUST 7 MAWE TRUST GRIEKWALAND WES KORP LTD JOHAN GERRIT JACOBS WYNAND JACOBUS HUMAN PIETER WILLEM SPIES JOHANNES JACOBUS KLOPPER ISAAC WILLIAM JIMMY STADHOUER JOHANNES HENDRIK COETZEE JOHANNES HENDRIK KOTZE FRANCIS JOHN LAWRENCE PIETER FRANCOIS ROUX TERTIUS CHARL JOHANNES MARAIS MATTHEUS CASPARUS MAREE WILHELMUS GERHARDUS MÜLKE FRANCOIS GERHARDUS JOHANNES WIID KHOSIMAN ERIC EDGAR RAMONGALO FRANS JACOBUS LUBBE GRIEKWALAND WES KOOP LTD JOHAN GERRIT JACOBS WYNAND JACOBUS HUMAN PIETER WILLEM SPIES JOHANNES JACOBUS KLOPPER ISAAC WILLIAM JIMMY STADHOUER JOHANNES HENDRIK COETZEE JOHANNES HENDRIK KOTZE FRANCIS JOHN LAWRENCE PIETER FRANCOIS ROUX TERTIUS CHARL JOHANNES MARAIS MATTHEUS CASPARUS MAREE WILHELMUS GERHARDUS MÜLKE FRANCOIS GERHARDUS JOHANNES WIID KHOSIMAN ERIC EDGAR RAMONGALO FRANS JACOBUS LUBBE 8 GERT SCHOONBEE BELEGGINGS PTY LTD GERT STEPHANUS SCHOONBEE CHRISTINA HENDRINA UPTON

17 8 MORE PROPERTIES ON TITLE DEED TRANS-ELANDS BOERDERYMAATSKAPPY PTY LTD GERT STEPHANUS SCHOONBEE CHRISTINA HENDRINA UPTON 9 CROSSING PROPERTY INVESTMENT PTY LTD RALPH TREVOR RIRIE MARK WILLIAM MCCREEDY LANCE MANNING SEYMOUR CHALWIN-MILTON WALTER JAMES MCWILLIAMS MICHAEL HERCULES VILJOEN KOPANANG SHOPPING COMPLEX PTY LTD MICHAEL HERCULES VILJOEN MARK WILLIAM MCCREEDY WATERFORD FINANCIAL MANAGEMENT LANCE MANNING SEYMOUR CHALWIN-MILTON 10 RAWSON HOME BUILDERS PTY LTD CARL ASTOR NORTJE WILLIAM IGNATIUS SNELL RAWSON 11 WILCOPROP 202 PTY LTD JACOBUS PHILIPPAS CRONJÉ ANTON CROUSE 12 PEARLDALE PROP DEVELOPERS PTY LTD RICHARD MICHAEL THOMAS DAVID PETER BUNCE 13 GAUTENG HUB PTY LTD 14 COLAM PROP PORTFOLIO PTY LTD BRENDA GERTRUDE BARRY SEAN DAVID MACKAY TIMOTHY WINFRED REDDELL 15 SENTRAAL SUID KOOP LTD 16 S A W H F S A RENTAL 3 TRUST EBERSOHN GYSBERTUS GUILLAUME 17 INTO VEST PTY LTD DEON ROOSENSCHOON MAARTEN ROOSENSCHOON WILLEM ANTONIE ROOSENSCHOON 19 FOUR RIVERS TRADING 54 PTY LTD WOUTER ADRIANUS VAN AMSTEL 20 INFINITY DYNAMIC PROP PTY LTD YUNG-CHIEH CHIEN CHUN-YU CHEN 21 MALYORK ESTATES PTY LTD MICHAEL PETER DEACON DAVID LESLIE BROWN CARL ALEXIS JANKOWITZ 22 RABIE PROP GROUP PTY LTD LEON HOWARDLEY COHEN COLIN ANDERSON 23 ROELAND STREET INV 3 PTY LTD STEVEN JAMES HORTON ENGELBERT BINEDELL 24 ANNENPROP 9 PTY LTD GILBERT BRIAN EVANS DUDLEY CHARLES ANNENBERG 25 RIVERTOWN CENTRAL PROPRIETARY LIMITED ERIC DAVID HERR DAVID GRANT SHARP DARREN LANCE SHUR JONATHAN SIMON LIEBMANN 26 UNIWINES PRODUCTION PTY LTD WILLEM JACOBUS DU TOIT ABRE VAN WYK ALING ALBERT STOFBERG 27 AFRO PROP NATAL PROPRIETARY LIMITED GLEN LIONEL DAMES DOUGLAS STEWART CHARLES LITTLER BENJAMIN DOUGLAS LITTLER 28 UNITED AFRICAN MARINE INSURANCE BROKERS PROPRIETARY VANESSA SINGH LIMITED NIEMESH SINGH Nicohlan Singh 29 FRAQUR 101 PTY LTD PIETER IGNATIUS LOURENS DU PLESSIS IRMA DU PLESSIS 30 VALUMAX MIDRAND PTY LTD KOOS TOEBES PHILLIP SAUNDERS ROCCO HUMAN DE KOCK HENDRIK FRANCOIS BEKKER TEDDY FREDERICK GREAVER 31 SWISH PROP TWENTY TWO PTY LTD GIANCARLO LANFRANCHI 32 B K B LTD KAMLESH MOTILAL RIGA DOUGLAS CHRISTOPHER LOUW JOHANNETTE OOSTHUIZEN ANTONY MICHAEL DAVIES GEOFFREY ERIC JOHN KINGWILL EDWARD ADRIAN MEYER HERBERT CHARLES STAPLE WOLFGANG EDMAYR JOHANNES JOUBERT SMIT OLUFEMI DOLAPO ADEYEMO 33 BILLSONS COUTTS PTY LTD JOHANNETTE OOSTHUIZEN WOLFGANG EDMAYR RONALD JOHN SMITH 34 HUMANSDORPSE KOOP LTD HUMANSDORP KOOP LTD 35 JARRABILLA INV PTY LTD JOHANNES ZACHARIAS MOOLMAN 18 36 EVENTIDE INV TRUST 37 CIENDO 44 PTY LTD WIAAN VAN DER LINDE 38 MIDDLEWAVE TRADE & INV 14 PTY LTD ADELLE MULLER BRETT ANTHONY HAYWARD 39 BRICKVEST COMMERCIAL DEVELOPMENT PTY LTD LOURENTIUS ANTONIUS SCLEBUSH JOHANNES PETRUS MULLER 40 DELTA PROP FUND LTD PAULA NEL JOSE JORGE GONCALVES DA COSTA SANDILE HOPESON NOMVETE MARELISE DE LANGE DAVINA NODUMO MOTAU PAUL DAVID SIMPSON IAN DONALD MACLEOD BRONWYN ANNE CORBETT NOORAYA KHAN 41 PROP DEV PTY LTD ERIC TANIOS HAMATY 42 IDEAFRUIT PTY LTD 43 RENICO CONSTRUCTION PTY LTD NICOLAAS SALOMO LOUW 44 DANGOLD SOUTH AFRICA PTY LTD JOSE MANUEL DA CAMARA FRANCOIS BEZUIDENHOUT ROQÈRIO CORREIA DINIZ 45 ABZUBIX PTY LTD HERBERT CEDRICK SADNESS THELEDI 46 LIMOTORQUE PTY LTD NICOLAAS HEYNS ROSSOUW 47 DAROCOL PTY LTD MARK SANDAK-LEWIN RYAN FARREN JOFFE 50 ARCHIMEDES ONTWIKKELINGS PTY LTD MARC VAN STEENBERGHE JACOBUS JOHANNES MARAIS

19 2 Geographic Spread

2.1 Municipal Spread

2.1.1 Transactions

The geographic spread (R Million) is:

Municipality Principal Town 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 CITY OF JOHANNESBURG JOHANNESBURG 20,445 21.4% 30,690 29.2% 29,822 25.1% 4,719 19.8% 32,101 25.0% 1,949 17.1% CAPE TOWN 12,648 13.2% 17,211 16.4% 19,230 16.2% 3,867 16.2% 20,121 15.7% 3,067 26.9% EKURHULENI GERMISTON 7,457 7.8% 9,345 8.9% 10,560 8.9% 3,239 13.6% 12,226 9.5% 2,613 22.9% ETHEKWINI DURBAN 8,622 9.0% 8,504 8.1% 8,694 7.3% 2,928 12.3% 10,718 8.4% 593 5.2% MANGAUNG BLOEMFONTEIN 937 1.0% 606 0.6% 1,532 1.3% 2,223 9.3% 3,613 2.8% 133 1.2% CITY OF TSHWANE PRETORIA 12,702 13.3% 7,142 6.8% 11,712 9.9% 1,051 4.4% 11,999 9.4% 567 5.0% NEWCASTLE NEWCASTLE 74 0.1% 72 0.1% 106 0.1% 770 3.2% 848 0.7% 0 0.0% DRAKENSTEIN PAARL 609 0.6% 845 0.8% 1,098 0.9% 316 1.3% 1,309 1.0% 137 1.2% ELIAS MOTSOALEDI GROBLERSDAL 35 0.0% 71 0.1% 126 0.1% 288 1.2% 403 0.3% 174 1.5% UMHLATHUZE RICHARDS BAY 218 0.2% 647 0.6% 276 0.2% 266 1.1% 513 0.4% 173 1.5% GEORGE GEORGE 511 0.5% 146 0.1% 385 0.3% 233 1.0% 594 0.5% 195 1.7% STELLENBOSCH STELLENBOSCH 864 0.9% 1,127 1.1% 1,904 1.6% 208 0.9% 1,457 1.1% 74 0.7% CITY OF MATLOSANA KLERKSDORP 161 0.2% 757 0.7% 125 0.1% 185 0.8% 299 0.2% 17 0.1% POLOKWANE POLOKWANE 1,718 1.8% 401 0.4% 471 0.4% 175 0.7% 617 0.5% 37 0.3% SWARTLAND MALMESBURY 421 0.4% 385 0.4% 283 0.2% 161 0.7% 379 0.3% 11 0.1% KWADUKUZA STANGER 526 0.6% 739 0.7% 968 0.8% 135 0.6% 781 0.6% 73 0.6% THE MSUNDUZI PIETERMARITZBUR 1,143 1.2% 1,210 1.2% 484 0.4% 124 0.5% 578 0.5% 83 0.7% G THULAMELA THOHOYANDOU 0 0.0% 44 0.0% 0 0.0% 117 0.5% 117 0.1% 60 0.5% MATJHABENG WELKOM 363 0.4% 607 0.6% 303 0.3% 113 0.5% 416 0.3% 38 0.3% MBOMBELA NELSPRUIT 1,795 1.9% 1,453 1.4% 843 0.7% 108 0.5% 896 0.7% 51 0.4% BREEDE VALLEY WORCESTER 144 0.2% 98 0.1% 213 0.2% 105 0.4% 316 0.2% 40 0.4% THABAZIMBI THABAZIMBI 280 0.3% 531 0.5% 367 0.3% 93 0.4% 412 0.3% 66 0.6% MOSSEL BAY MOSSEL BAY 579 0.6% 123 0.1% 57 0.0% 91 0.4% 148 0.1% 26 0.2% EMALAHLENI WITBANK 263 0.3% 1,351 1.3% 875 0.7% 85 0.4% 855 0.7% 40 0.3% MOQHAKA KROONSTAD 180 0.2% 185 0.2% 172 0.1% 83 0.3% 219 0.2% 83 0.7% EPHRAIM MOGALE 71 0.1% 133 0.1% 48 0.0% 73 0.3% 120 0.1% 45 0.4% MOGALE CITY KRUGERSDORP 489 0.5% 468 0.4% 534 0.4% 70 0.3% 470 0.4% 18 0.2% BLUE CRANE ROUTE SOMERSET EAST 50 0.1% 86 0.1% 187 0.2% 69 0.3% 236 0.2% 52 0.5% LUKANJI QUEENSTOWN 45 0.0% 35 0.0% 414 0.3% 65 0.3% 460 0.4% 57 0.5% MOGALAKWENA MOKOPANE 693 0.7% 105 0.1% 53 0.0% 58 0.2% 106 0.1% 0 0.0% MUSINA MUSINA 64 0.1% 55 0.1% 119 0.1% 57 0.2% 168 0.1% 57 0.5% BUFFALO CITY EAST LONDON 539 0.6% 783 0.7% 457 0.4% 57 0.2% 433 0.3% 12 0.1% THE BIG 5 HLUHLUWE 7 0.0% 16 0.0% 15 0.0% 55 0.2% 70 0.1% 55 0.5% THEMBELIHLE HOPETOWN 144 0.2% 59 0.1% 34 0.0% 53 0.2% 74 0.1% 53 0.5% KAI !GARIB KEIMOS 740 0.8% 104 0.1% 133 0.1% 49 0.2% 173 0.1% 49 0.4% KING SABATA DALINDYEBO MTHATA 32 0.0% 101 0.1% 120 0.1% 47 0.2% 167 0.1% 47 0.4% TSWELOPELE BULTFONTEIN 68 0.1% 207 0.2% 192 0.2% 47 0.2% 215 0.2% 16 0.1% GOVAN MBEKI SECUNDA 163 0.2% 240 0.2% 393 0.3% 47 0.2% 408 0.3% 6 0.1% UMLALAZI ESHOWE 30 0.0% 112 0.1% 107 0.1% 44 0.2% 145 0.1% 44 0.4% TOKOLOGO HERTZOGVILLE 161 0.2% 101 0.1% 166 0.1% 43 0.2% 143 0.1% 19 0.2% KNYSNA KNYSNA 449 0.5% 94 0.1% 324 0.3% 42 0.2% 345 0.3% 23 0.2% MOOKGOPONG MOOKGOPHONG 182 0.2% 253 0.2% 245 0.2% 42 0.2% 234 0.2% 19 0.2% MPOFANA MOOI RIVER 108 0.1% 64 0.1% 138 0.1% 40 0.2% 137 0.1% 40 0.4% MATATIELE MATATIELE 24 0.0% 79 0.1% 60 0.1% 39 0.2% 88 0.1% 0 0.0% LEPHALALE ELLISRAS 366 0.4% 456 0.4% 396 0.3% 38 0.2% 253 0.2% 8 0.1% SIYANCUMA DOUGLAS 238 0.2% 195 0.2% 177 0.1% 37 0.2% 190 0.1% 0 0.0% EMAKHAZENI BELFAST 170 0.2% 259 0.2% 106 0.1% 35 0.1% 135 0.1% 0 0.0% GREATER KOKSTAD KOKSTAD 125 0.1% 56 0.1% 179 0.2% 35 0.1% 213 0.2% 28 0.2% INXUBA YETHEMBA CRADOCK 70 0.1% 53 0.1% 75 0.1% 34 0.1% 63 0.0% 26 0.2% UMNGENI HOWICK 179 0.2% 142 0.1% 170 0.1% 31 0.1% 193 0.2% 0 0.0% NELSON MANDELA BAY PORT ELIZABETH 1,403 1.5% 851 0.8% 1,625 1.4% 13 0.1% 1,540 1.2% 7 0.1% OTHER 16,335 17.1% 15,779 15.0% 21,525 18.2% 940 3.9% 19,542 15.2% 439 3.8% 95,645 105,177 118,594 23,843 128,258 11,419

20 21 2.1.2 Bonds

The bond activity (R Million) is:

Municipality Principal Town 2013 2014 2015 2016 YTD February 2016

CITY OF JOHANNESBURG JOHANNESBURG 22,065 23.0% 21,461 23.3% 31,133 25.6% 4,870 23.2% 1,333 14.7% CITY OF CAPE TOWN CAPE TOWN 11,931 12.4% 15,147 16.4% 20,782 17.1% 4,577 21.8% 3,490 38.4% ETHEKWINI DURBAN 6,792 7.1% 7,270 7.9% 8,212 6.7% 1,831 8.7% 248 2.7% NELSON MANDELA BAY PORT ELIZABETH 8,252 8.6% 3,400 3.7% 2,864 2.4% 1,346 6.4% 24 0.3% CITY OF TSHWANE PRETORIA 10,219 10.6% 6,402 7.0% 13,808 11.3% 1,273 6.1% 570 6.3% EKURHULENI GERMISTON 6,019 6.3% 11,103 12.1% 9,691 8.0% 1,007 4.8% 531 5.8% MANGAUNG BLOEMFONTEIN 765 0.8% 1,002 1.1% 1,518 1.2% 720 3.4% 96 1.1% BUFFALO CITY EAST LONDON 834 0.9% 1,615 1.8% 1,655 1.4% 322 1.5% 273 3.0% ELIAS MOTSOALEDI GROBLERSDAL 108 0.1% 251 0.3% 340 0.3% 286 1.4% 211 2.3% STELLENBOSCH STELLENBOSCH 1,744 1.8% 896 1.0% 804 0.7% 274 1.3% 70 0.8% THE MSUNDUZI PIETERMARITZBURG 891 0.9% 1,177 1.3% 771 0.6% 236 1.1% 114 1.3% //KHARA HAIS UPINGTON 171 0.2% 149 0.2% 69 0.1% 207 1.0% 7 0.1% MAFIKENG MAFIKENG 80 0.1% 167 0.2% 31 0.0% 181 0.9% 181 2.0% CITY OF MATLOSANA KLERKSDORP 113 0.1% 50 0.1% 52 0.0% 153 0.7% 0 0.0% LANGEBERG ROBERTSON 80 0.1% 87 0.1% 307 0.3% 152 0.7% 152 1.7% BREEDE VALLEY WORCESTER 449 0.5% 214 0.2% 545 0.4% 145 0.7% 70 0.8% THULAMELA THOHOYANDOU 15 0.0% 120 0.1% 157 0.1% 138 0.7% 60 0.7% MBOMBELA NELSPRUIT 1,463 1.5% 684 0.7% 1,443 1.2% 113 0.5% 5 0.1% TLOKWE CITY COUNCIL POTCHEFSTROOM 438 0.5% 441 0.5% 741 0.6% 113 0.5% 0 0.0% BLOUBERG BOCHUM 46 0.0% 94 0.1% 60 0.0% 106 0.5% 106 1.2% POLOKWANE POLOKWANE 675 0.7% 188 0.2% 918 0.8% 105 0.5% 14 0.2% EMFULENI VANDERBIJL PARK 1,271 1.3% 810 0.9% 584 0.5% 103 0.5% 70 0.8% OVERSTRAND HERMANUS 147 0.2% 237 0.3% 838 0.7% 97 0.5% 97 1.1% THABAZIMBI THABAZIMBI 74 0.1% 301 0.3% 164 0.1% 97 0.5% 66 0.7% KWADUKUZA STANGER 326 0.3% 1,247 1.4% 1,872 1.5% 96 0.5% 72 0.8% GREATER TUBATSE BURGERSFORT 128 0.1% 537 0.6% 70 0.1% 94 0.4% 0 0.0% TOKOLOGO HERTZOGVILLE 59 0.1% 44 0.0% 98 0.1% 91 0.4% 12 0.1% EMALAHLENI WITBANK 1,043 1.1% 463 0.5% 972 0.8% 87 0.4% 55 0.6% LUKANJI QUEENSTOWN 88 0.1% 68 0.1% 39 0.0% 87 0.4% 66 0.7% KING SABATA DALINDYEBO MTHATA 1,443 1.5% 121 0.1% 188 0.2% 83 0.4% 48 0.5% THEEWATERSKLOOF CALEDON 155 0.2% 182 0.2% 139 0.1% 72 0.3% 60 0.7% KOUGA JEFFREYS BAY 88 0.1% 83 0.1% 508 0.4% 68 0.3% 60 0.7% TSWELOPELE BULTFONTEIN 120 0.1% 167 0.2% 150 0.1% 66 0.3% 26 0.3% MOQHAKA KROONSTAD 129 0.1% 212 0.2% 185 0.2% 64 0.3% 57 0.6% INXUBA YETHEMBA CRADOCK 38 0.0% 26 0.0% 57 0.0% 63 0.3% 56 0.6% GEORGE GEORGE 287 0.3% 664 0.7% 248 0.2% 63 0.3% 27 0.3% PHUMELELA VREDE 123 0.1% 154 0.2% 147 0.1% 60 0.3% 0 0.0% DRAKENSTEIN PAARL 1,093 1.1% 391 0.4% 415 0.3% 60 0.3% 20 0.2% MAQUASSI HILLS WOLMARANSSTAD 40 0.0% 34 0.0% 67 0.1% 57 0.3% 39 0.4% THEMBELIHLE HOPETOWN 116 0.1% 61 0.1% 37 0.0% 56 0.3% 56 0.6% GREATER KOKSTAD KOKSTAD 106 0.1% 67 0.1% 248 0.2% 51 0.2% 51 0.6% GOVAN MBEKI SECUNDA 305 0.3% 142 0.2% 425 0.3% 50 0.2% 0 0.0% WITZENBERG CERES 1,221 1.3% 361 0.4% 697 0.6% 45 0.2% 15 0.2% NKOMAZI NKOMAZI 125 0.1% 181 0.2% 96 0.1% 39 0.2% 5 0.1% CAPE AGULHAS BREDASDORP 70 0.1% 114 0.1% 201 0.2% 39 0.2% 25 0.3% PIXLEY KA SEME VOLKSRUST 86 0.1% 20 0.0% 79 0.1% 38 0.2% 7 0.1% MUSINA MUSINA 37 0.0% 20 0.0% 27 0.0% 38 0.2% 0 0.0% BITOU PLETTENBERG BAY 55 0.1% 73 0.1% 134 0.1% 36 0.2% 0 0.0% LESEDI HEIDELBERG 490 0.5% 0 0.0% 215 0.2% 35 0.2% 0 0.0% OTHER OTHER 13,647 14.2% 13,383 14.5% 17,021 14.0% 1,008 4.8% 543 6.0% 96,060 92,081 121,822 20,998 9,088

22 The Market Share for the top municipalities are:

Municipality ABSA BIDVEST FIRSTRAND GRINDROD INVESTEC NEDBANK STANDARD TUHF

CITY OF CAPE TOWN 2013 4.7% 0.0% 8.8% 0.0% 19.3% 55.3% 11.8% 0.0% 2014 6.4% 0.2% 7.4% 0.0% 24.4% 47.9% 13.6% 0.0% 2015 8.8% 0.0% 5.8% 1.2% 26.9% 40.0% 17.4% 0.0% 2016 YTD 1.8% 0.0% 8.4% 0.0% 24.4% 14.7% 50.7% 0.0% Mar 2015 - Feb 2016 7.2% 0.0% 5.9% 1.0% 27.3% 35.2% 23.4% 0.0% February 2016 0.7% 0.0% 0.9% 0.0% 20.4% 13.1% 64.8% 0.0% CITY OF 2013 4.6% 0.1% 12.0% 1.4% 10.2% 43.8% 26.5% 1.4% JOHANNESBURG 2014 4.3% 0.3% 5.8% 0.0% 26.8% 29.7% 31.0% 2.1% 2015 13.2% 0.1% 15.1% 0.3% 22.4% 36.1% 11.6% 1.3% 2016 YTD 9.9% 0.0% 4.8% 0.0% 22.8% 24.7% 37.8% 0.0% Mar 2015 - Feb 2016 13.2% 0.1% 13.2% 0.2% 22.4% 35.4% 14.5% 1.0% February 2016 31.3% 0.0% 7.4% 0.0% 24.7% 26.6% 10.0% 0.0% CITY OF TSHWANE 2013 7.1% 0.0% 4.7% 0.9% 20.8% 44.6% 21.5% 0.3% 2014 15.6% 0.0% 9.5% 0.0% 29.1% 33.3% 12.6% 0.0% 2015 32.4% 0.0% 5.1% 0.0% 19.4% 30.6% 12.5% 0.0% 2016 YTD 8.5% 0.0% 4.1% 0.0% 35.7% 12.9% 38.8% 0.0% Mar 2015 - Feb 2016 32.0% 0.0% 4.8% 0.0% 21.8% 29.1% 12.3% 0.0% February 2016 12.0% 0.0% 5.3% 0.0% 58.4% 20.2% 4.1% 0.0% EKURHULENI 2013 6.0% 0.5% 9.8% 0.0% 21.2% 47.8% 14.4% 0.3% 2014 6.7% 1.1% 20.4% 2.4% 31.2% 24.8% 13.5% 0.0% 2015 11.6% 0.0% 10.6% 0.0% 21.4% 44.0% 12.2% 0.2% 2016 YTD 34.9% 0.0% 28.1% 0.0% 16.8% 17.6% 2.6% 0.0% Mar 2015 - Feb 2016 15.1% 0.0% 11.8% 0.0% 22.8% 40.7% 9.4% 0.2% February 2016 26.0% 0.0% 49.4% 0.0% 4.0% 18.1% 2.5% 0.0% ETHEKWINI 2013 2.4% 0.0% 20.2% 1.2% 35.1% 33.4% 7.7% 0.0% 2014 6.0% 0.7% 12.6% 0.7% 19.5% 39.7% 20.2% 0.7% 2015 10.7% 0.0% 5.9% 0.8% 26.3% 38.4% 17.8% 0.1% 2016 YTD 2.8% 0.0% 2.9% 0.0% 16.6% 31.8% 45.9% 0.0% Mar 2015 - Feb 2016 10.0% 0.0% 5.6% 0.8% 24.4% 37.5% 21.7% 0.0% February 2016 8.2% 0.0% 0.0% 0.0% 17.6% 45.7% 28.6% 0.0%

23 2.2 Nodes within Municipalities

A breakdown of the nodes within the major cities highlights the areas of strong activity:

2.2.1 City of Cape Town

The transactional activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 CAPE TOWN - SOUTHERN SUBURBS 2,306 18.2% 2,236 13.0% 3,951 20.5% 1,479 38.3% 4,936 24.5% 1,283 41.8% CAPE TOWN - EAST 525 4.2% 541 3.1% 1,161 6.0% 840 21.7% 1,658 8.2% 826 26.9% CAPE TOWN - ATLANTIC SEABOARD 1,557 12.3% 2,418 14.0% 3,188 16.6% 474 12.3% 3,241 16.1% 271 8.8% CAPE TOWN - CENTRAL 2,716 21.5% 5,040 29.3% 2,780 14.5% 375 9.7% 2,576 12.8% 264 8.6% CAPE TOWN - VOORTREKKER ROAD 1,471 11.6% 2,421 14.1% 2,692 14.0% 342 8.8% 2,847 14.1% 239 7.8% CAPE TOWN - SOMERSET WEST 724 5.7% 832 4.8% 1,414 7.4% 134 3.5% 1,437 7.1% 53 1.7% CAPE TOWN - TABLE VIEW 2,438 19.3% 2,404 14.0% 1,903 9.9% 104 2.7% 1,589 7.9% 36 1.2% CAPE TOWN - NORTHERN SUBURBS 563 4.5% 1,012 5.9% 1,586 8.2% 99 2.6% 1,298 6.5% 75 2.4% CAPE TOWN - 349 2.8% 308 1.8% 555 2.9% 20 0.5% 540 2.7% 20 0.6% Total 12,648 17,211 19,230 3,867 20,121 3,067

24 The bond activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 CAPE TOWN - SOUTHERN SUBURBS 1,583 13.3% 3,167 20.9% 4,216 20.3% 2,782 60.8% 6,695 29.1% 2,477 71.0% CAPE TOWN - CENTRAL 2,960 24.8% 2,584 17.1% 4,405 21.2% 717 15.7% 4,807 20.9% 515 14.7% CAPE TOWN - TABLE VIEW 2,988 25.1% 1,565 10.3% 2,502 12.0% 330 7.2% 2,472 10.8% 297 8.5% CAPE TOWN - ATLANTIC SEABOARD 1,041 8.7% 2,206 14.6% 2,908 14.0% 284 6.2% 3,021 13.1% 115 3.3% CAPE TOWN - VOORTREKKER ROAD 1,438 12.1% 1,982 13.1% 2,550 12.3% 273 6.0% 2,386 10.4% 34 1.0% CAPE TOWN - NORTHERN SUBURBS 543 4.5% 1,932 12.8% 1,640 7.9% 64 1.4% 1,098 4.8% 0 0.0% CAPE TOWN - EAST 225 1.9% 810 5.4% 1,015 4.9% 57 1.2% 945 4.1% 25 0.7% CAPE TOWN - SOMERSET WEST 533 4.5% 543 3.6% 1,159 5.6% 50 1.1% 1,173 5.1% 8 0.2% CAPE TOWN - CAPE FLATS 620 5.2% 357 2.4% 383 1.8% 21 0.5% 403 1.8% 21 0.6% Total 11,929 15,145 20,779 4,577 22,998 3,491

The Market Share is as follows:

25 26 The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 973,911,808 REDEFINE PROP LTD FOUNTAINHEAD PROP TRUST SCHEME CAPE TOWN~53770~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS CAPE TOWN~54756~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 2 773,023,396 INVESTEC PROP FUND LTD ZEVENWACHT VILLAGE CENTRE PROP KUILS RIVER~21425~00000 VREDELUST CAPE TOWN - EAST TRUST 3 690,000,000 MAIN STREET 1310 PTY LTD NAMPAK PRODUCTS LTD BELLVILLE~25158~00000 BELLVILLE SOUTH INDUSTRIAL CAPE TOWN - VOORTREKKER ROAD 4 75,000,000 K2015315375 SOUTH AFRICA PTY LTD ST MUNGO PROP C C CLIFTON~5~00000 CLIFTON CAPE TOWN - ATLANTIC SEABOARD 5 71,000,000 SWISH PROP TWENTY TWO PTY LTD ERIS PROP FUND PTY LTD CAPE TOWN~146708~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 6 64,000,000 DELTA PROP FUND LTD T B Z MANAGEMENT & INV CO PROP CAPE TOWN~5177~00000 CAPE TOWN - SOUTHERN SUBURBS LTD CAPE TOWN~5178~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 7 50,000,000 AMDEC 08 PTY LTD SERINA INV PTY LTD CAPE RD~1387~00005 NOORDHOEK CAPE TOWN - SOUTHERN SUBURBS 8 45,000,000 OBSERVATORY INV HOLDINGS LTD GARRATT RICHARD EDWARD CONSTANTIA~5179~00000 NOVA CONSTANTIA CAPE TOWN - SOUTHERN SUBURBS 9 33,630,000 EDWARD & FRAN KIESWETTER INV BOULDER TRUST ~121~00000 CAPE TOWN - ATLANTIC SEABOARD TRUST 10 30,250,000 ADAMS & CO PTY LTD SALOK PTY LTD ~12313~00000 MORGENSTER HOOGTE CAPE TOWN - EAST CAPE RD~311~00033 SCOTTSVILLE CAPE TOWN - EAST 11 29,640,000 G L C DEVELOPMENT PTY LTD OOSTHUIZEN DEVELOPMENT GROUP ~31596~00000 CAPE TOWN - EAST PTY LTD 12 29,300,000 C G INV HOLDINGS PTY LTD NOVARA INV TRUST ~2118~00000 HIGGOVALE CAPE TOWN - CENTRAL 13 29,000,000 X T L S INV 236 PTY LTD S B G TRUST BANTRY BAY~744~00000 BANTRY BAY CAPE TOWN - ATLANTIC SEABOARD 14 27,006,600 K2014214897 SOUTH AFRICA PTY LTD I M I INV C C CAPE TOWN~5046~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL CAPE TOWN~5047~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL CAPE TOWN~5048~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL CAPE TOWN~5052~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL CAPE TOWN~5053~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 15 24,000,000 ACRES OF LOVE N P C MURRAY SEAN DESMOND CONSTANTIA~71~00000 CONSTANTIA HEIGHTS CAPE TOWN - SOUTHERN SUBURBS 16 24,000,000 EDUTRADE SOUTHERN AFRICA PTY B M G PROP PTY LTD CAPE TOWN~146773~00000 CAPE TOWN - VOORTREKKER ROAD LTD 17 22,000,000 G P I PROP PTY LTD EXCELLENT MEAT PACKERS CAPE PTY GOODWOOD~33996~00000 ELSIES RIVER CAPE TOWN - VOORTREKKER ROAD LTD 18 21,660,000 J D GROUP PROP HOLDINGS PTY LTD B HEINEMANN PTY LTD CAPE RD~311~00180 LANGEBERG GLEN CAPE TOWN - NORTHERN SUBURBS 19 21,090,000 B HEINEMANN PTY LTD ROBOW INV NO 52 PTY LTD CAPE RD~311~00180 LANGEBERG GLEN CAPE TOWN - NORTHERN SUBURBS 20 20,400,000 PLATINUM BUILDINGS PTY LTD WATER COMFORT WHOLESALE PTY MILNERTON~30059~00000 MARCONI BEAM INDUSTRIAL CAPE TOWN - TABLE VIEW LTD 21 19,522,500 RAWSON HOME BUILDERS PTY LTD CAPRICORN TRUST CAPE TOWN~27666~00000 OBSERVATORY CAPE TOWN - CENTRAL 22 19,380,000 NAUTIC PROP PTY LTD LOUP DA LOUP PTY LTD CAPE TOWN~173084~00000 PAARDEN EILAND CAPE TOWN - CENTRAL 23 17,385,000 MALEKE FAMILY TRUST PIETERSBURG HYGIENIK HOLDINGS C CAPE TOWN~167800~00000 WATERFRONT CAPE TOWN - ATLANTIC SEABOARD C 24 17,000,000 LEOPONT 585 PROP PTY LTD BALL ANDREW CHARLES WATKINS BANTRY BAY~51~00000 BANTRY BAY CAPE TOWN - ATLANTIC SEABOARD 25 16,570,000 INSTITUTE OF MINE SIESMOLOGY PTY EQUITANIA PTY LTD STELLENBOSCH RD~1088~00004 CAPE TOWN - SOMERSET WEST LTD 26 15,300,000 SIVI & BEV PILLAY FAMILY TRUST BESTBIER ASHLEY STAFFORD CAPE TOWN~45228~00000 CAPE TOWN - SOUTHERN SUBURBS 27 14,800,000 L M T INV PTY LTD FREED WAYNE AUBREY ORANJEZICHT~3547~00000 HIGGOVALE CAPE TOWN - CENTRAL 28 14,000,000 SOHO PROP PTY LTD TRUE NORTH TRUST CONSTANTIA~34~00000 CONSTANTIA HEIGHTS CAPE TOWN - SOUTHERN SUBURBS 29 13,750,000 IMTIAS ISMAIL TRUST KNOOP LINDA PATRICIA CAPE TOWN~98416~00000 RONDEBOSCH CAPE TOWN - SOUTHERN SUBURBS 30 13,680,000 FAIRHAVEN COUNTRY ESTATE PTY LTD CORPINVEST 60 PTY LTD SOMERSET WEST~7096~00000 WORLDS VIEW CAPE TOWN - SOMERSET WEST 31 13,600,000 LEOPONT 585 PROP PTY LTD SACKER ISADORE BANTRY BAY~39~00000 BANTRY BAY CAPE TOWN - ATLANTIC SEABOARD 32 13,110,000 BIDDULPHS REMOVALS PROP PTY LTD WEBASTO THERMO & COMFORT WETTON~1001~00000 OTTERY CAPE TOWN - CAPE FLATS SOUTH AFRICA PTY LTD 33 13,000,000 ADAN INV PTY LTD BENCAR PROP TRUST CAPE TOWN~167799~00000 WATERFRONT CAPE TOWN - ATLANTIC SEABOARD 34 13,000,000 K2014214897 SOUTH AFRICA PTY LTD MANHATTAN PROJECT PTY LTD CAPE TOWN~5044~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL CAPE TOWN~5050~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 35 13,000,000 SUBROLINX PTY LTD N A V PROP PTY LTD CAPE TOWN~95979~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 36 12,759,336 ALOOCA PROP PTY LTD AIRPORT CITY PROP HOLDINGS PTY CAPE TOWN~174495~00000 CAPE TOWN - SOUTHERN SUBURBS LTD 37 12,500,000 TADOTRIM PTY LTD KHAN BLUMERIUS LODEWYK EZRA CONSTANTIA~880~00000 WITTEBOOMEN CAPE TOWN - SOUTHERN SUBURBS 38 12,000,000 DAROCOL PTY LTD CUFF MARTIN GARETH GREEN POINT~1358~00000 GREEN POINT CAPE TOWN - ATLANTIC SEABOARD 39 9,500,000 GREEN EARTH ENERGY EFFICIENT G L C DEVELOPMENT PTY LTD RUSTDAL~355~00000 SAXENBURG INDUSTRIA CAPE TOWN - EAST LIGHTING MANUFACTURING PTY LTD RUSTDAL~356~00000 SAXENBURG INDUSTRIA CAPE TOWN - EAST 40 9,200,000 ZAAKIR IBRAHIM PROP INV PTY LTD IMMERMAN RALPH CONSTANTIA~13436~00000 ALPHEN CAPE TOWN - SOUTHERN SUBURBS 41 8,900,000 CRYSTAL DIRECT TRADING PTY LTD BRENTAM PROP PTY LTD STRAND~33291~00000 ASLA BUSINESS PARK CAPE TOWN - SOMERSET WEST 42 8,500,000 BETBIZ TRADING PTY LTD ROOYEN GERRIT THOMAS VAN WEST~806~00000 CAPE TOWN - ATLANTIC SEABOARD 43 8,500,000 ANDAMAN TRUST DRYSDALE ANDREW PATERSON BANTRY BAY~809~00000 BANTRY BAY CAPE TOWN - ATLANTIC SEABOARD 44 8,300,000 CHEROKEE ROSE PROP 165 PTY LTD J C R S INV PTY LTD CAPE TOWN~95450~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~95461~00000 GARDENS CAPE TOWN - CENTRAL 45 8,250,000 TURQUOISE TRUST BARWISE BEATRICE MONTIETH CONSTANTIA~284~00000 BISHOPSCOURT CAPE TOWN - SOUTHERN SUBURBS 46 8,183,786 LIBERTY LANE TRADING 329 PTY LTD CAPE TOWN 2 PROP PTY LTD CAPRICORN~2481~00000 CAPE TOWN - SOUTHERN SUBURBS 47 8,100,000 MARGARET'S TRUST PADDY HINTON FAMILY TRUST SOMERSET WEST~13968~00000 VILLAGE CAPE TOWN - SOMERSET WEST 48 8,100,000 WORTHINGTON PETER MICHAEL WEYLANDT DEBORAH CLAIR FRESNAYE~78~00000 FRESNAYE CAPE TOWN - ATLANTIC SEABOARD 49 7,800,000 FRANGELIA TRUST BOTHA LOUISE HELENE BELLVILLE~31532~00000 WELGEDACHT ESTATES CAPE TOWN - NORTHERN SUBURBS 50 7,695,000 G P I PROP PTY LTD EXCELLENT MEAT PACKERS CAPE PTY GOODWOOD~33997~00000 ELSIES RIVER CAPE TOWN - VOORTREKKER ROAD LTD

Directors of these companies are:

27 Rank Buyer First Name Surname

1 REDEFINE PROP LTD LEON CHRISTIAAN KOK NOMALIZO BERYL LANGA-ROYDS BERNARD NACKAN MARC WAINER DAVID ALAN NATHAN BRONWYN BAKER MICHAEL JOHN WATTERS ANDREW JOSEPH KONIG GUNTER ZEND STEFFENS HARISHKUMAR KANTILAL MEHTA MARIUS BARKHUYSEN DAVID HUW RICE PHUMZILE LANGENI MICHAEL JOHN RUTTLE 2 INVESTEC PROP FUND LTD MOSES MODIDIMA NGOASHENG KHUMO LESEGO SHUENYANE CONSTANCE MATSHAGA MASHABA GRAHAM ROBERT ROSENTHAL LUIGI LUCA MARIA GIURICICH NICHOLAS PETER RILEY SAM HACKNER SAMUEL RONALD LEON MORESTAT CORPORATE SERVICES SULIMAN MAHOMED ANDREW ROBERT WOOLER 3 MAIN STREET 1310 PTY LTD DION PETER DE GRAAFF ASOGAN BALACHANDREN PILLAY GARTH NORMAN TOWELL TIMOTHY SOUTER MORESTAT CORPORATE SERVICES RICHARD FIENBERG SHAUN ZAGNOEV JOANNE CLARE SINEY-GOULD GRANT MICHAEL PATTISON 4 K2015315375 SOUTH AFRICA PTY LTD DANIEL GOLDBERG 5 SWISH PROP TWENTY TWO PTY LTD GIANCARLO LANFRANCHI 6 DELTA PROP FUND LTD MARELISE DE LANGE DAVINA NODUMO MOTAU NOORAYA KHAN SANDILE HOPESON NOMVETE BRONWYN ANNE CORBETT IAN DONALD MACLEOD PAUL DAVID SIMPSON JOSE JORGE GONCALVES DA COSTA PAULA NEL 7 AMDEC 08 PTY LTD JAME ALEXANDER WILSON LIESL PETERSEN SYBRAND VAN DER SPUY 8 OBSERVATORY INV HOLDINGS LTD 9 EDWARD & FRAN KIESWETTER INV TRUST 10 ADAMS & CO PTY LTD FELICITY JANE MACDUFF ISH RAJCOOMAR PETER DIXEY ADAMS ALIDA ESTERHUYSE 11 G L C DEVELOPMENT PTY LTD GERHARD LOTTER CONRADIE 12 C G INV HOLDINGS PTY LTD CLARK GARDNER 13 X T L S INV 236 PTY LTD STAFF OVERLOAD SERVICES ABDULSAMADU ISYAKU RABIU 14 K2014214897 SOUTH AFRICA PTY LTD ROBIN CHARLES ANDREW BARNETT-HARRIS MICHAEL JONATHAN SMITH 15 ACRES OF LOVE N P C RYAN AUDAGNOTTI LOUIE CARSON ANDREW RONALD NICOL BROWN ROBYN CLAIRE MILLS GERTUIDA ANNA AUDAGNOTTI PAUL SIDNEY DANCHIK RHONA CARTER 16 EDUTRADE SOUTHERN AFRICA PTY LTD MICHAEL BERRANGE FURNEAUX 17 G P I PROP PTY LTD ALAN EDWARD KEET MOGAMAT FALDI SAMAAI HASSEN ADAMS 18 J D GROUP PROP HOLDINGS PTY LTD JOHANNES HENOCH VAN DER MERWE NEETHLING UDO BÖHMER

28 19 B HEINEMANN PTY LTD 20 PLATINUM BUILDINGS PTY LTD ANDREW DE VILLIERS DEWEY DAVID NEILL SPARROW ANDRE VICTOR BREDENKAMP 21 RAWSON HOME BUILDERS PTY LTD CARL ASTOR NORTJE WILLIAM IGNATIUS SNELL RAWSON 22 NAUTIC PROP PTY LTD JAMES FISHER 23 MALEKE FAMILY TRUST 24 LEOPONT 585 PROP PTY LTD DIRK BIKKEMBERGS 25 INSTITUTE OF MINE SIESMOLOGY PTY LTD RICHARD ANTHONY LYNCH JOACHIM JACOBUS FRANKEN PETRUS ALEKSANDER JERZY MENDECKI 26 SIVI & BEV PILLAY FAMILY TRUST 27 L M T INV PTY LTD BARBARA JEAN ROBINSON PHILLIP PETER ROBINSON 28 SOHO PROP PTY LTD MICHAEL STUART RONALD PETERSEN SEAN PRETORIUS 29 IMTIAS ISMAIL TRUST 30 FAIRHAVEN COUNTRY ESTATE PTY LTD OTTO BENJAMIN WIEHAHN 32 BIDDULPHS REMOVALS PROP PTY LTD PETER ALLEN FARMEREY BRIAN RICHARD GIBBONS MICHAEL BASIL GIBBONS FRANCES ANNE ATTENBOROUGH GRAHAM ALAN POWER 33 ADAN INV PTY LTD PATRICIA GAIL JULIAN SHARON JULIAN 35 SUBROLINX PTY LTD JEREMY DE VILLIERS BRONWYN CLAUDIA DARNÉ HENRY BROADLEY DEDNAM SHAUN LOUIS RAI 36 ALOOCA PROP PTY LTD ERIK RUDOLF VENTER 37 TADOTRIM PTY LTD AHMED KHALAF AHMED ALOTAIBA KHALAF SULTAN KHALAF AHMED ALOTAIBA KHALAF 38 DAROCOL PTY LTD MARK SANDAK-LEWIN RYAN FARREN JOFFE 39 GREEN EARTH ENERGY EFFICIENT LIGHTING MANUFACTURING PTY LOUIS WESSEL ANDRAG LTD HESTER CHARLOTTE ANDRAG 40 ZAAKIR IBRAHIM PROP INV PTY LTD ANWAR IBRAHIM 41 CRYSTAL DIRECT TRADING PTY LTD IVO ZRCEK 42 BETBIZ TRADING PTY LTD GERARD IVAN SUZOR 43 ANDAMAN TRUST 44 CHEROKEE ROSE PROP 165 PTY LTD PHILLIPPE WESSEL FOUCHE STEFAN OKREGLICKI ANTONI PHILIP MATTHEW OLMESDAHL MARK JOHN BULLIVANT RICHARD GREGORY TRUEN 45 TURQUOISE TRUST 46 LIBERTY LANE TRADING 329 PTY LTD 47 MARGARET'S TRUST 48 WORTHINGTON PETER MICHAEL 49 FRANGELIA TRUST

The top commercial mortgages greater than R5 million and limited to 50 in February 2016 are:

Rank Bond Amount Buyer Bank Erf Key Suburb Node First Transaction at

1 2,200,000,000 K2012150042 SOUTH AFRICA PTY LTD STANDARD CAPE TOWN~160060~00000 CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~55246~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~56907~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~57355~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~57456~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~57458~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~57462~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~57464~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~57957~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 SUBURBS 2 160,000,000 RAWSON HOME BUILDERS PTY LTD INVESTEC CAPE TOWN~27666~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 3 150,000,000 PEARLDALE PROP DEVELOPERS PTY NEDBANK CAPE TOWN~173147~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 201602 LTD 29 4 135,000,000 COLAM PROP PORTFOLIO PTY LTD INVESTEC MILNERTON~20798~00000 BLOUBERG SANDS CAPE TOWN - TABLE VIEW 201602 MILNERTON~21173~00000 BLOUBERG SANDS CAPE TOWN - TABLE VIEW 201602 MILNERTON~21174~00000 BLOUBERG SANDS CAPE TOWN - TABLE VIEW 201602 MILNERTON~27998~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 MILNERTON~27999~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 MILNERTON~28000~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 MILNERTON~33249~00000 SUNNINGDALE CAPE TOWN - TABLE VIEW 201602 5 95,000,000 MALYORK ESTATES PTY LTD INVESTEC CONSTANTIA~4572~00000 SWAANSWYK ROAD CAPE TOWN - SOUTHERN 201602 SUBURBS 6 95,000,000 RABIE PROP GROUP PTY LTD NEDBANK MONTAGUE GARDENS~7058~00000 CAPE TOWN - TABLE VIEW 201602 7 62,500,000 SWISH PROP TWENTY TWO PTY LTD NEDBANK CAPE TOWN~146708~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 201602 8 57,000,000 EVENTIDE INV TRUST INVESTEC CLIFTON~532~00000 CLIFTON CAPE TOWN - ATLANTIC 201602 SEABOARD 9 55,000,000 DELTA PROP FUND LTD INVESTEC CAPE TOWN~5177~00000 CAPE TOWN - SOUTHERN 201602 SUBURBS CAPE TOWN~5178~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 201602 10 41,000,000 DAROCOL PTY LTD INVESTEC GREEN POINT~1358~00000 GREEN POINT CAPE TOWN - ATLANTIC 201602 SEABOARD 11 40,000,000 RAWSON HOME BUILDERS PTY LTD INVESTEC CAPE TOWN~27666~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 12 30,000,000 C G INV HOLDINGS PTY LTD NEDBANK ORANJEZICHT~2118~00000 HIGGOVALE CAPE TOWN - CENTRAL 201602 13 30,000,000 VUNA TRUST INVESTEC BISHOPSCOURT~94~00000 BISHOPSCOURT CAPE TOWN - SOUTHERN 201602 SUBURBS 14 25,250,000 ADAMS & CO PTY LTD FIRSTRAND BRACKENFELL~12313~00000 MORGENSTER HOOGTE CAPE TOWN - EAST 201602 CAPE RD~311~00033 SCOTTSVILLE CAPE TOWN - EAST 201602 15 25,000,000 ATTICUS 2 TRUST ABSA CAPE TOWN~17993~00000 PAARDEN EILAND CAPE TOWN - CENTRAL 201602 25,000,000 ATTICUS TRUST ABSA CAPE TOWN~177145~00000 CAPE TOWN - SOUTHERN 201602 SUBURBS 16 25,000,000 CLAREMONT LIBRARY STANDARD CAPE TOWN~172804~00000 CLAREMONT CAPE TOWN - SOUTHERN 201602 DEVELOPMENT CO PTY LTD SUBURBS 17 22,200,000 BLAZECOR 214 C C NEDBANK PARKLANDS~5590~00000 PARKLANDS CAPE TOWN - TABLE VIEW 201602 18 22,000,000 PROP APPEAL PTY LTD INVESTEC CAPE TOWN~97575~00000 NEWLANDS CAPE TOWN - SOUTHERN 201602 SUBURBS 19 20,600,000 URBAN SPACE SPECIAL BUILDING INVESTEC CAPE TOWN~96503~00000 NEWLANDS CAPE TOWN - SOUTHERN 201602 PROJECTS C C SUBURBS CAPE TOWN~96505~00000 NEWLANDS CAPE TOWN - SOUTHERN 201602 SUBURBS 20 20,230,000 IMVUSA TRADING 1979 C C OTHER BANK MONTAGUE GARDENS~6821~00000 CENTURY CITY CAPE TOWN - TABLE VIEW 201602 21 20,000,000 PLATINUM BUILDINGS PTY LTD NEDBANK MILNERTON~30059~00000 MARCONI BEAM INDUSTRIAL CAPE TOWN - TABLE VIEW 201602 22 20,000,000 SOHO PROP PTY LTD NEDBANK CONSTANTIA~34~00000 CONSTANTIA HEIGHTS CAPE TOWN - SOUTHERN 201602 SUBURBS 23 18,800,000 BLAZECOR 214 C C NEDBANK PARKLANDS~5589~00000 PARKLANDS CAPE TOWN - TABLE VIEW 201602 24 14,500,000 BRONN PROP C C NEDBANK CAPE TOWN~108540~00000 MAITLAND CAPE TOWN - VOORTREKKER 201602 ROAD 25 13,700,000 COMARCO MAURITIUS LTD INVESTEC CONSTANTIA~6780~00000 CONSTANTIA CAPE TOWN - SOUTHERN 201602 SUBURBS 26 11,500,000 NAUTIC PROP PTY LTD NEDBANK CAPE TOWN~173084~00000 PAARDEN EILAND CAPE TOWN - CENTRAL 201602 27 11,000,000 SWARO PROP TRUST INVESTEC BANTRY BAY~908~00000 BANTRY BAY CAPE TOWN - ATLANTIC 201602 SEABOARD 28 10,000,000 PACIFIC BLAZE INV 120 C C STANDARD CAPE TOWN~26126~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 CAPE TOWN~26128~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 CAPE TOWN~27006~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 CAPE TOWN~27009~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 CAPE TOWN~27010~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 CAPE TOWN~27011~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 CAPE TOWN~27315~00000 OBSERVATORY CAPE TOWN - CENTRAL 201602 CAPE TOWN~65382~00000 KENILWORTH CAPE TOWN - SOUTHERN 201602 SUBURBS 29 8,200,000 PACIFIC PARAMOUNT PROP PTY LTD NEDBANK CAPE TOWN~22761~00000 MAITLAND CAPE TOWN - VOORTREKKER 201602 ROAD 30 8,100,000 BIDDULPHS REMOVALS PROP PTY FIRSTRAND WETTON~1001~00000 OTTERY CAPE TOWN - CAPE FLATS 201602 LTD 31 8,000,000 MIDSTREAM ERF 56 C C INVESTEC CHAPMANS PEAK~457~00000 NOORDHOEK CAPE TOWN - SOUTHERN 201602 SUBURBS 32 8,000,000 SUNNYWAY TRUST OTHER BANK MATROOSFONTEIN~4761~00000 AIRPORT INDUSTRIA CAPE TOWN - VOORTREKKER 201602 ROAD 33 8,000,000 BOLD MOVES 261 PTY LTD STANDARD CONSTANTIA~60~00000 CONSTANTIA HEIGHTS CAPE TOWN - SOUTHERN 201602 SUBURBS 34 7,500,000 VORSTER FAMILY TRUST INVESTEC ~730~00000 PARELVALLEI CAPE TOWN - SOMERSET WEST 201602 35 7,000,000 NATHEEMA ISAACS FAMILY TRUST INVESTEC CAPE TOWN~118111~00000 LANSDOWNE CAPE TOWN - CAPE FLATS 201602 36 6,160,000 ROSA PARKS PTY LTD STANDARD MILNERTON~27241~00000 SUNSET BEACH CAPE TOWN - TABLE VIEW 201602 37 6,000,000 GAMBLE RATE TRADING PTY LTD INVESTEC PAROW~19041~00000 FAIRFIELD ESTATE CAPE TOWN - VOORTREKKER 201602 ROAD 38 5,920,000 OBERHOLZER TRUST FUND TRUST STANDARD GREEN POINT~999~00000 THREE ANCHOR BAY CAPE TOWN - ATLANTIC 201602 SEABOARD 39 5,500,000 BASFOUR 2528 PTY LTD INVESTEC SPRINGFIELD CAPE~99~00000 PHILLIPI CAPE TOWN - CAPE FLATS 201602 40 5,500,000 TWIGA TRUST STANDARD ~983~00000 VREDEHOEK CAPE TOWN - CENTRAL 201602 41 5,050,000 BRIGHT ELECTRICAL PROP C C NEDBANK BELLVILLE~9297~00000 BOSTON CAPE TOWN - VOORTREKKER 201602 ROAD BELLVILLE~9298~00000 BOSTON CAPE TOWN - VOORTREKKER 201602 ROAD

Directors of these companies are:

30 Rank Buyer First Name Surname

1 K2012150042 SOUTH AFRICA PTY LTD 2 RAWSON HOME BUILDERS PTY LTD WILLIAM IGNATIUS SNELL RAWSON CARL ASTOR NORTJE 3 PEARLDALE PROP DEVELOPERS PTY LTD RICHARD MICHAEL THOMAS DAVID PETER BUNCE 4 COLAM PROP PORTFOLIO PTY LTD BRENDA GERTRUDE BARRY SEAN DAVID MACKAY TIMOTHY WINFRED REDDELL 5 MALYORK ESTATES PTY LTD MICHAEL PETER DEACON CARL ALEXIS JANKOWITZ DAVID LESLIE BROWN 6 RABIE PROP GROUP PTY LTD COLIN ANDERSON LEON HOWARDLEY COHEN 7 SWISH PROP TWENTY TWO PTY LTD GIANCARLO LANFRANCHI 8 EVENTIDE INV TRUST 9 DELTA PROP FUND LTD DAVINA NODUMO MOTAU PAULA NEL NOORAYA KHAN MARELISE DE LANGE PAUL DAVID SIMPSON SANDILE HOPESON NOMVETE BRONWYN ANNE CORBETT IAN DONALD MACLEOD JOSE JORGE GONCALVES DA COSTA 10 DAROCOL PTY LTD RYAN FARREN JOFFE MARK SANDAK-LEWIN 12 C G INV HOLDINGS PTY LTD CLARK GARDNER 13 VUNA TRUST 14 ADAMS & CO PTY LTD FELICITY JANE MACDUFF ISH RAJCOOMAR PETER DIXEY ADAMS ALIDA ESTERHUYSE 15 ATTICUS 2 TRUST ATTICUS TRUST 16 CLAREMONT LIBRARY DEVELOPMENT CO PTY LTD GARY RICHARD MOORE JACQUES GUILLAUME KEMPEN 17 BLAZECOR 214 C C TAW-HA FASHINE RASDIEN 18 PROP APPEAL PTY LTD WILLIAM IGNATIUS SNELL RAWSON 19 URBAN SPACE SPECIAL BUILDING PROJECTS C C BRENDAN RORY DANIEL O'BRIEN 20 IMVUSA TRADING 1979 C C 21 PLATINUM BUILDINGS PTY LTD ANDRE VICTOR BREDENKAMP DAVID NEILL SPARROW ANDREW DE VILLIERS DEWEY 22 SOHO PROP PTY LTD SEAN PRETORIUS MICHAEL STUART RONALD PETERSEN 24 BRONN PROP C C ALEWYN PETRUS BRONN 25 COMARCO MAURITIUS LTD 26 NAUTIC PROP PTY LTD JAMES FISHER 27 SWARO PROP TRUST 28 PACIFIC BLAZE INV 120 C C JOHN MATHEW MARK HOWDEN HAMILTON ANTHONY CYRIL LANDON 29 PACIFIC PARAMOUNT PROP PTY LTD PANAYIOTIS ALEXANDER MICHALETOS 30 BIDDULPHS REMOVALS PROP PTY LTD GRAHAM ALAN POWER FRANCES ANNE ATTENBOROUGH BRIAN RICHARD GIBBONS PETER ALLEN FARMEREY MICHAEL BASIL GIBBONS 31 MIDSTREAM ERF 56 C C DIRKIE MARIA CATHARINA WEARING 32 SUNNYWAY TRUST 33 BOLD MOVES 261 PTY LTD MAURITZ LE ROUX 34 VORSTER FAMILY TRUST 35 NATHEEMA ISAACS FAMILY TRUST 36 ROSA PARKS PTY LTD AHMED ESSOP MORESTAT CORPORATE SERVICES 37 GAMBLE RATE TRADING PTY LTD GERARD KRECKLENBERG RAYMOND RESNICK 38 OBERHOLZER TRUST FUND TRUST 39 BASFOUR 2528 PTY LTD PAUL ANDREW SPOKES 40 TWIGA TRUST 41 BRIGHT ELECTRICAL PROP C C DELFINO RIBEIRO LUIS

31 2.1.2 City of Johannesburg

The transactional activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 JOHANNESBURG - LINBRO PARK/GREENSTONE 900 4.4% 2,113 6.9% 1,363 4.6% 650 13.8% 1,748 5.4% 600 30.8% JOHANNESBURG - SANDTON 2,757 13.5% 4,474 14.6% 6,346 21.3% 1,035 21.9% 7,041 21.9% 185 9.5% JOHANNESBURG - BRYANSTON 833 4.1% 1,711 5.6% 2,282 7.7% 793 16.8% 2,976 9.3% 111 5.7% JOHANNESBURG - CBD/BRAAMFONTEIN 1,666 8.1% 1,952 6.4% 2,232 7.5% 603 12.8% 2,727 8.5% 92 4.7% JOHANNESBURG - MIDRAND/KYALAMI 2,012 9.8% 2,167 7.1% 2,302 7.7% 280 5.9% 2,398 7.5% 238 12.2% JOHANNESBURG - SUNNINGHILL/RIVONIA 731 3.6% 1,404 4.6% 1,137 3.8% 253 5.4% 1,204 3.7% 200 10.3% EKURHULENI - BEDFORDVIEW 1,792 8.8% 1,998 6.5% 936 3.1% 265 5.6% 1,131 3.5% 118 6.1% JOHANNESBURG - FOURWAYS/NORTHGATE 1,415 6.9% 3,740 12.2% 3,472 11.6% 228 4.8% 3,338 10.4% 79 4.1% JOHANNESBURG - ROSEBANK/MELROSE 2,184 10.7% 1,550 5.0% 3,181 10.7% 122 2.6% 3,044 9.5% 93 4.8% JOHANNESBURG - RANDBURG 2,347 11.5% 804 2.6% 1,127 3.8% 111 2.3% 1,171 3.6% 94 4.8% JOHANNESBURG - WYNBERG 317 1.6% 1,151 3.8% 571 1.9% 115 2.4% 612 1.9% 32 1.6% JOHANNESBURG - WEST 1,315 6.4% 3,080 10.0% 1,803 6.0% 100 2.1% 1,847 5.8% 37 1.9% JOHANNESBURG - 459 2.2% 980 3.2% 388 1.3% 73 1.5% 413 1.3% 6 0.3% NOT ALLOCATED 529 2.6% 411 1.3% 327 1.1% 36 0.8% 321 1.0% 31 1.6% JOHANNESBURG - 440 2.2% 1,481 4.8% 745 2.5% 30 0.6% 731 2.3% 15 0.7% JOHANNESBURG - DENVER/KENSINGTON/BRUMA 213 1.0% 750 2.4% 698 2.3% 21 0.4% 698 2.2% 21 1.1% JOHANNESBURG - CRESTA/FAIRLAND 286 1.4% 381 1.2% 350 1.2% 6 0.1% 309 1.0% 0 0.0% JOHANNESBURG - / 250 1.2% 540 1.8% 562 1.9% 0 0.0% 394 1.2% 0 0.0% Total 20,445 30,690 29,822 4,719 32,101 1,949

32 The bond activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 JOHANNESBURG - LINBRO PARK/GREENSTONE 3,164 14.3% 1,934 9.0% 3,704 11.9% 1,028 21.1% 4,356 13.0% 421 31.6% JOHANNESBURG - SANDTON 3,339 15.1% 4,763 22.2% 6,427 20.6% 1,020 20.9% 7,135 21.4% 37 2.8% JOHANNESBURG - FOURWAYS/NORTHGATE 2,041 9.3% 1,896 8.8% 1,937 6.2% 454 9.3% 1,934 5.8% 225 16.9% JOHANNESBURG - CBD/BRAAMFONTEIN 3,212 14.6% 951 4.4% 4,010 12.9% 391 8.0% 4,328 13.0% 56 4.2% JOHANNESBURG - WYNBERG 191 0.9% 585 2.7% 427 1.4% 382 7.9% 740 2.2% 25 1.9% JOHANNESBURG - SOWETO/ORANGE FARM 762 3.5% 199 0.9% 810 2.6% 289 5.9% 869 2.6% 0 0.0% JOHANNESBURG - RANDBURG 493 2.2% 629 2.9% 673 2.2% 257 5.3% 857 2.6% 135 10.1% JOHANNESBURG - WEST 766 3.5% 636 3.0% 1,133 3.6% 227 4.7% 1,293 3.9% 50 3.8% JOHANNESBURG - ROSEBANK/MELROSE 1,709 7.7% 4,112 19.2% 2,885 9.3% 180 3.7% 2,997 9.0% 33 2.5% JOHANNESBURG - MIDRAND/KYALAMI 1,068 4.8% 948 4.4% 2,110 6.8% 144 3.0% 2,048 6.1% 86 6.4% JOHANNESBURG - BRYANSTON 982 4.4% 667 3.1% 3,178 10.2% 135 2.8% 3,305 9.9% 16 1.2% EKURHULENI - BEDFORDVIEW 906 4.1% 478 2.2% 1,266 4.1% 118 2.4% 1,286 3.9% 86 6.5% JOHANNESBURG - SUNNINGHILL/RIVONIA 2,183 9.9% 735 3.4% 769 2.5% 111 2.3% 549 1.6% 111 8.3% JOHANNESBURG - HOUGHTON ESTATE 277 1.3% 437 2.0% 265 0.9% 43 0.9% 174 0.5% 8 0.6% JOHANNESBURG - PARKTOWN 376 1.7% 367 1.7% 808 2.6% 37 0.8% 834 2.5% 30 2.3% JOHANNESBURG - CRESTA/FAIRLAND 225 1.0% 379 1.8% 366 1.2% 30 0.6% 352 1.1% 0 0.0% JOHANNESBURG - 160 0.7% 259 1.2% 239 0.8% 23 0.5% 214 0.6% 15 1.1% DENVER/KENSINGTON/BRUMA NOT ALLOCATED 211 1.0% 1,484 6.9% 125 0.4% 0 0.0% 125 0.4% 0 0.0% Total 22,063 21,459 31,131 4,870 33,396 1,333

The Market Share is as follows:

33 34 The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 473,248,735 REDEFINE PROP LTD HYPROP INV LTD GREENSTONE PARK~11~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE GREENSTONE PARK~13~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE GREENSTONE PARK~15~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE 2 105,387,714 TEXTON PROP FUND LTD MIDNIGHT STORM INV 187 PTY LTD EDENBURG PTA~286~00000 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA 3 92,292,475 CAPITAL PROPFUND 2 PTY LTD IFOUR PROP THREE PTY LTD NOORDWYK~1624~00002 NOORDWYK JOHANNESBURG - MIDRAND/KYALAMI 4 85,000,000 BLUE WAVES PROP 150 PTY LTD SUN INTERNATIONAL SOUTH AFRICA LTD SANDOWN~575~00005 SANDOWN JOHANNESBURG - SANDTON 5 74,538,096 REDEFINE PROP LTD ABSA BANK LTD BRYANSTON~5582~00006 BRYANSTON JOHANNESBURG - BRYANSTON 6 65,177,904 CAPITAL PROPFUND PTY LTD CAPITAL PROPFUND PTY LTD WESTLAKE VIEW~38~00000 LAKESIDE JOHANNESBURG - LINBRO PARK/GREENSTONE 7 57,000,000 AMBER BAY INV 42 PTY LTD RABONI PROP CC FERNDALE~1884~00000 FERNDALE JOHANNESBURG - RANDBURG LUVON INV PTY LTD RABONI PROP CC FERNDALE~1884~00000 FERNDALE JOHANNESBURG - RANDBURG 8 51,698,509 REDEFINE PTY LTD FOUNTAINHEAD PROP TRUST SCHEME A HALFWAY HOUSE~401~00000 HALFWAY HOUSE ESTATE JOHANNESBURG - COLLECTIVE INV SCHEME IN PROPERTY MIDRAND/KYALAMI HALFWAY HOUSE~402~00000 HALFWAY HOUSE ESTATE JOHANNESBURG - MIDRAND/KYALAMI 9 51,300,000 BALWIN PROP PTY LTD ZIKHETHELE TRADE 4 PTY LTD BRYANSTON~5279~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA BRYANSTON~5280~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA 10 48,750,000 IHS FUND II SA RENTAL TRUST 2 BALWIN PROP LTD OAKDENE~754~00000 EKURHULENI - BEDFORDVIEW 11 48,678,540 URBAN STEYN PTY LTD ARTISANS TRUST CITY & SUBURBAN~1156~00000 CITY & SUBURBAN JOHANNESBURG - CBD/BRAAMFONTEIN CITY & SUBURBAN~1182~00001 CITY & SUBURBAN JOHANNESBURG - CBD/BRAAMFONTEIN CITY & SUBURBAN~423~00001 CITY & SUBURBAN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~661~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~662~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~663~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~664~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~665~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~666~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN NEW DOORNFONTEIN~667~00000 NEW DOORNFONTEIN JOHANNESBURG - CBD/BRAAMFONTEIN MORE PROPERTIES ON TITLE DEED 12 46,740,000 ABZUBIX PTY LTD INVESTEC PROP FUND LTD RANDJESPARK~84~00000 RANDJESPARK JOHANNESBURG - MIDRAND/KYALAMI 13 45,030,000 INDEPENDENT INSTITUTE OF WINTER BREEZE TRADING 105 PTY LTD IQ~190~00140 RUIMSIG AH JOHANNESBURG - WEST EDUCATION PTY LTD 14 40,625,000 IHS FUND II SA RENTAL TRUST 2 BALWIN PROP LTD OAKDENE~754~00000 EKURHULENI - BEDFORDVIEW 15 39,348,765 CAPITAL PROPFUND 2 PTY LTD PANGBOURNE PROP LTD PAULSHOF~991~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA 16 34,200,000 ROYAL ALBATROSS PROP 379 PTY EXTENSION 24 COMMERCIAL LEASING CO CHARTWELL~87~00000 JOHANNESBURG - LTD PTY LTD FOURWAYS/NORTHGATE CHARTWELL~88~00000 JOHANNESBURG - FOURWAYS/NORTHGATE CHARTWELL~89~00000 JOHANNESBURG - FOURWAYS/NORTHGATE CHARTWELL~90~00000 JOHANNESBURG - FOURWAYS/NORTHGATE 17 34,200,000 FRUTAROM SOUTH AFRICA PTY LTD CAPITAL PROPFUND PTY LTD RANDJESPARK~231~00000 JOHANNESBURG - MIDRAND/KYALAMI 18 30,000,000 QUICK LEAP INV 10 PTY LTD COCO TRUST MELROSE NORTH~181~00001 MELROSE ARCH JOHANNESBURG - ROSEBANK/MELROSE 19 27,360,000 GOTTINI LAKE TRADING 110 PTY LTD STEPHEN FALCKE INTERIOR DESIGN DUNKELD~199~00000 DUNKELD JOHANNESBURG - CONSULTANCY CC ROSEBANK/MELROSE 20 27,000,000 EXTENSION 24 COMMERCIAL CHARTWELL VILLAGE PTY LTD CHARTWELL~87~00000 JOHANNESBURG - LEASING CO PTY LTD FOURWAYS/NORTHGATE CHARTWELL~88~00000 JOHANNESBURG - FOURWAYS/NORTHGATE CHARTWELL~89~00000 JOHANNESBURG - FOURWAYS/NORTHGATE CHARTWELL~90~00000 JOHANNESBURG - FOURWAYS/NORTHGATE 21 26,220,000 HELU PARK PTY LTD INVESTEC PROP FUND LTD FRANKENWALD~1~00007 JOHANNESBURG - LINBRO PARK/GREENSTONE IR~35~00159 LINBRO PARK~44~00000 JOHANNESBURG - LINBRO PARK/GREENSTONE 22 25,000,000 INDLUPLACE PROP LTD CONNAUGHT PROP PTY LTD JOHANNESBURG~3060~00000 JOHANNESBURG - CBD/BRAAMFONTEIN JOHANNESBURG~3061~00000 JOUBERT PARK JOHANNESBURG - CBD/BRAAMFONTEIN JOHANNESBURG~3062~00000 JOUBERT PARK JOHANNESBURG - CBD/BRAAMFONTEIN JOHANNESBURG~3063~00000 JOUBERT PARK JOHANNESBURG - CBD/BRAAMFONTEIN 23 22,230,000 CHINA YONGSHENG GROUP SOUTH HAPPY SUN PROP CC IR~2~00588 AFRICA PTY LTD 24 21,888,999 ROELAND STREET INV 3 PTY LTD MERGENCE AFRICA PROP INV TRUST KENSINGTON B~149~00000 KENSINGTON B JOHANNESBURG - RANDBURG 35 25 21,090,000 ZIKHETHELE TRADE 4 PTY LTD CITY OF JOHANNESBURG METROPOLITAN BRYANSTON~5279~00000 PAULSHOF JOHANNESBURG - MUNICIPALITY SUNNINGHILL/RIVONIA BRYANSTON~5280~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA 26 19,380,000 DALART PTY LTD K K 85 KYALAMI INV TRUST FRANKENWALD~11~00011 LINBRO BUSINESS PARK JOHANNESBURG - LINBRO PARK/GREENSTONE FRANKENWALD~11~00012 LINBRO BUSINESS PARK JOHANNESBURG - LINBRO PARK/GREENSTONE 27 19,000,000 76 BENMORE GARDENS TRUST HIGHRISE PROP INV PTY LTD HURLINGHAM~259~00000 HURLINGHAM JOHANNESBURG - SANDTON 28 19,000,000 76 BENMORE GARDENS TRUST HIGHRISE PROP INV PTY LTD BENMORE GARDENS~3~00076 BENMORE GARDENS JOHANNESBURG - SANDTON 29 18,069,000 RESIDENCY SANDHURST PTY LTD DU PONT PROP DEVELOPMENTS PTY LTD HURLINGHAM~97~00000 HURLINGHAM JOHANNESBURG - SANDTON 30 15,653,397 MIDDLEWAVE TRADE & INV 14 PTY LANSERIA TRUST ONE LANSERIA~633~00000 LANSERIA JOHANNESBURG - LTD FOURWAYS/NORTHGATE LANSERIA~634~00000 LANSERIA JOHANNESBURG - FOURWAYS/NORTHGATE LANSERIA~635~00000 LANSERIA JOHANNESBURG - FOURWAYS/NORTHGATE 31 15,390,000 GREEN SYNERGY PTY LTD C R H AFRICA AUTOMOTIVE PTY LTD WYNBERG PTA~30~00000 WYNBERG JOHANNESBURG - WYNBERG 32 15,000,000 RAWBONE PROP PTY LTD OTTAWA HOUSE PTY LTD OPHIRTON~543~00002 OPHIRTON EKURHULENI - BEDFORDVIEW 33 14,000,000 LIMOWARE PTY LTD BEHR PROP CC IR~92~00869 DENVER EXT 2 JOHANNESBURG - DENVER/KENSINGTON/BRUMA 34 14,000,000 ALKO PROP PTY LTD J D GROUP PROP HOLDINGS PTY LTD ROBERTVILLE~439~00001 ROBERTVILLE JOHANNESBURG - WEST 35 13,689,000 BIDVEST PROP PTY LTD JELSEP PTY LTD FRANKENWALD~124~00001 LINBRO BUSINESS PARK JOHANNESBURG - LINBRO PARK/GREENSTONE 36 13,000,000 INDLUPLACE PROP LTD CONNAUGHT PROP PTY LTD JOHANNESBURG~3066~00000 JOUBERT PARK JOHANNESBURG - CBD/BRAAMFONTEIN 37 13,000,000 MVILA TRUST AIKEN TIMOTHY EDWARD SANDHURST~34~00009 SANDHURST JOHANNESBURG - SANDTON 38 13,000,000 AFRICA UNION COMMERCIAL INV PTY CROWBELL INV PTY LTD HYDE PARK~171~00001 HYDE PARK JOHANNESBURG - LTD ROSEBANK/MELROSE 39 12,000,000 CRISPIN TRADING PTY LTD LIMARO AGENCIES CC HOOGLAND~70~00000 NORTHLANDS BUSINESS PARK JOHANNESBURG - FOURWAYS/NORTHGATE 40 12,000,000 UMMI PROP PTY LTD CUNNINGHAM KIERON JOSEPH MELROSE~67~00001 MELROSE JOHANNESBURG - ROSEBANK/MELROSE 41 11,000,000 RICHARD ROAD PROP INV PTY LTD PETALWOOD INV PTY LTD MELVILLE JHB~372~00000 MELVILLE JOHANNESBURG - PARKTOWN 42 11,000,000 XTRASPACE FLEXI OFFICE PTY LTD SHOWGROUPWORLD PTY LTD ROBINDALE~183~00000 ROBINDALE JOHANNESBURG - RANDBURG 43 10,677,562 JELSEP PTY LTD BIDVEST PROP PTY LTD FRANKENWALD~124~00002 LINBRO BUSINESS PARK JOHANNESBURG - LINBRO PARK/GREENSTONE 44 10,600,000 TORTELLO INV 143 RF PTY LTD TORTELLO INV 144 RF PTY LTD BEREA~1513~00000 BEREA JOHANNESBURG - CBD/BRAAMFONTEIN 45 10,450,000 I M T FAMILY TRUST LIDBETTER DAVLYN JANE BRYANSTON~952~00000 BRYANSTON JOHANNESBURG - BRYANSTON 46 10,300,000 AFRISTAR PROP PTY LTD LAMBROU CHRISTOS KEW~772~00000 KEW INDUSTRIAL JOHANNESBURG - WYNBERG 47 10,250,000 ABOLOGIX PTY LTD HYDE TRUST HYDE PARK~374~00003 HYDE PARK JOHANNESBURG - ROSEBANK/MELROSE HYDE PARK~376~00000 HYDE PARK JOHANNESBURG - ROSEBANK/MELROSE 48 9,050,000 BLACK SHEEP EDUCATIONAL TRUST COETSEE ANDRE SAXONWOLD~2~00000 SAXONWOLD JOHANNESBURG - PARKTOWN 49 8,151,000 SYTHEL INV PTY LTD MANAGED SUPPLY CHAIN PTY LTD INDUSTRIA~156~00003 EKURHULENI - BEDFORDVIEW 50 7,995,000 BAKONE MOTLOKWA FAMILY TRUST M R X 92 INV HOLDINGS PTY LTD SANDOWN~16~00000 SANDOWN JOHANNESBURG - SANDTON

Directors for these companies are:

Rank Buyer First Name Surname

1 REDEFINE PROP LTD BERNARD NACKAN DAVID HUW RICE ANDREW JOSEPH KONIG MARC WAINER HARISHKUMAR KANTILAL MEHTA MICHAEL JOHN WATTERS BRONWYN BAKER LEON CHRISTIAAN KOK GUNTER ZEND STEFFENS MICHAEL JOHN RUTTLE DAVID ALAN NATHAN PHUMZILE LANGENI MARIUS BARKHUYSEN NOMALIZO BERYL LANGA-ROYDS 2 TEXTON PROP FUND LTD BRIGITTE DE BRUYN KYANSAMBO NTOMBI VUNDLA JOHN RUSSELL MACEY NOSIPHIWO VUYOWETHU BALFOUR JACOB ANIEL WIESE MATHYS JOHANNES VAN HEERDEN JOHN ALLASTAIR LEGH THANDUXOLO SELBY SISHUBA KENNETH RUSSELL COLLINS NICHOLAS MORRIS ANGELIQUE NORMA DU HECQUET DE RAUVILLE PORTIA-MORWESI TAU-SEKATI 3 CAPITAL PROPFUND 2 PTY LTD ANDREW TEIXEIRA ABRAHAM ALBERTUS BORNMAN BARRY LESTER STUHLER BERNITA SCHAPER 4 BLUE WAVES PROP 150 PTY LTD PAUL JOHN HAILWOOD 36 4 BLUE WAVES PROP 150 PTY LTD JOHAN FRANCK 6 CAPITAL PROPFUND PTY LTD ANDREW TEIXEIRA BERNITA SCHAPER WILLEM JAKOB SERFONTEIN MARK WALTER STEVENS ABRAHAM ALBERTUS BORNMAN 7 AMBER BAY INV 42 PTY LTD JAN HENDRIK KRUGER ETIENNE MARTIN EYGENBERGER RICHARD MARK O'SULLIVAN LOUIS DE PONTE JACOBUS PETRUS FOURIE LUVON INV PTY LTD JOHANNES ZACHARIAS MOOLMAN FRIEDERICH SONKE MOOLMAN SONKE MOOLMAN JOHANNES ZACHARIAS MOOLMAN PIETER ANDRIES LOMBAARD STEPHANUS BEYERS 8 REDEFINE PTY LTD MARC WAINER ANDREW JOSEPH KONIG DAVID HUW RICE BERNARD NACKAN NOMALIZO BERYL LANGA-ROYDS MARIUS BARKHUYSEN PHUMZILE LANGENI DAVID ALAN NATHAN MICHAEL JOHN RUTTLE GUNTER ZEND STEFFENS LEON CHRISTIAAN KOK BRONWYN BAKER MICHAEL JOHN WATTERS HARISHKUMAR KANTILAL MEHTA 9 BALWIN PROP PTY LTD MORESTAT CORPORATE SERVICES STEPHEN VOLKER BROOKES JONATHAN WELTMAN RODNEY NORMAN GRAY ULRICH GSCHNAIDTNER 10 IHS FUND II SA RENTAL TRUST 2 11 MORE PROPERTIES ON TITLE DEED URBAN STEYN PTY LTD RIAAN JACOBUS PRETORIUS RICKY LUNTZ JONATHAN SIMON LIEBMANN 12 ABZUBIX PTY LTD HERBERT CEDRICK THELEDI SADNESS 13 INDEPENDENT INSTITUTE OF EDUCATION PTY LTD ALEXANDER ISAAKIDIS ROY JOHN DOUGLAS JEAN DIDIER RAICO OESCH SANDRA KAYE SAUNDERS 16 ROYAL ALBATROSS PROP 379 PTY LTD INVESTEC GROUP DATA PIETER WILLEM MACKENZIE CHARALAMBOS SAVVA HAJIPHILIPPOU NEIL STEPHEN BARROW WARREN BARLOW 17 FRUTAROM SOUTH AFRICA PTY LTD DARRELL JOHN HAMILTON GRAY FRANK STEPHEN FENTON ANIL SINGH ARI ROSENTHAL 18 QUICK LEAP INV 10 PTY LTD STEVEN DAVID GOTTSCHALK GOTTSCHALK 19 GOTTINI LAKE TRADING 110 PTY LTD BENEDICTA ANGELIKI NAKOS CAROLLYN ANNE MITCHELL COENRAAD HENDRIK KOTZE FRANCOIS DE BRUYN CILLIERS 20 EXTENSION 24 COMMERCIAL LEASING CO PTY LTD CHARALAMBOS SAVVA HAJIPHILIPPOU MORESTAT CORPORATE SERVICES JAMES KIERAN COLUM WHELAN 21 HELU PARK PTY LTD HELMUT ERWIN GEIGER BJÖRN GEIGER 22 INDLUPLACE PROP LTD IMRAAN EBRAHIM SULEMAN GREGORY STEPHEN KINROSS CLIFFORD LAWRENCE ABRAMS AYESHA REHMAN JAMES NOEL WOODS MARK JONATHAN KAPLAN TAFFY MONTY ADLER PETRUS CAREL DE WIT SELWYN NOIK 23 CHINA YONGSHENG GROUP SOUTH AFRICA PTY LTD XIN JIANG 37 23 CHINA YONGSHENG GROUP SOUTH AFRICA PTY LTD QINGQIAN CAI YUZHONG JI 24 ROELAND STREET INV 3 PTY LTD STEVEN JAMES HORTON ENGELBERT BINEDELL 25 ZIKHETHELE TRADE 4 PTY LTD 26 DALART PTY LTD AMIT NACHBAR 27 76 BENMORE GARDENS TRUST 29 RESIDENCY SANDHURST PTY LTD MARC HOSIOSKY 30 MIDDLEWAVE TRADE & INV 14 PTY LTD BRETT ANTHONY HAYWARD ADELLE MULLER 31 GREEN SYNERGY PTY LTD 32 RAWBONE PROP PTY LTD KEVIN JOHN DONALDSON 33 LIMOWARE PTY LTD JONATHAN SIMON LIEBMANN RICKY LUNTZ DAVID MICHAEL MAYERS 34 ALKO PROP PTY LTD ALLAN NAICKER JACOBUS PETRUS MEYER 35 BIDVEST PROP PTY LTD DAVID EDWARD CLEASBY BENSURE MANAGEMENT SERVICES ISAAC MENASHE BRIAN JOFFE 37 MVILA TRUST 38 AFRICA UNION COMMERCIAL INV PTY LTD ALPHA NDAMBO 39 CRISPIN TRADING PTY LTD MATHEW WAYNE JERICEVICH SHAUN BRENDEN JERICEVICH 40 UMMI PROP PTY LTD KENNETH JAMES DENTON 41 RICHARD ROAD PROP INV PTY LTD RICHARD HENRY BARTLETT WAYNE MICHAEL BARTLETT 42 XTRASPACE FLEXI OFFICE PTY LTD GARETH BRUMMER ABRAHAM MARTHINUS SCHNEIDER COLLEEN MAY HUNTER 43 JELSEP PTY LTD RICHARD PETER BASIL JELLEY 44 TORTELLO INV 143 RF PTY LTD JAMES FRANCIS HOWARD ADRIAAN OPPERMAN REYNEKE BRIAN JEFFREY MILLER IAN ALFRED MASON GUSTAV CORNELIUS HOLTZHAUSEN 45 I M T FAMILY TRUST 46 AFRISTAR PROP PTY LTD DANIEL NEIL MILNER JUSTIN MILNER 47 ABOLOGIX PTY LTD KWAKU AKOSAH-BEMPAH OPHELIA FIFUITERA AKOSAH-BEMPAH 48 BLACK SHEEP EDUCATIONAL TRUST 49 SYTHEL INV PTY LTD MORESTAT CORPORATE SERVICES GREGORY FRIEDMAN ARNOLD MICHAEL FRIEDMAN ADAM DANIEL FRIEDMAN 50 BAKONE MOTLOKWA FAMILY TRUST

TThe top commercial mortgages greater than R5 million and limited to 50 in February 2016 are:

Rank Bond Amount Buyer Bank Erf Key Suburb Node First Transaction at

1 400,000,000 ZENDAI DEV SOUTH AFRICA PTY LTD ABSA IR~710~00000 LONGLAKE JOHANNESBURG - LINBRO 201602 PARK/GREENSTONE ZENDAI DEVELOPMENT SOUTH AFRICA ABSA IR~710~00010 JOHANNESBURG - LINBRO 201602 PTY LTD PARK/GREENSTONE 2 128,000,000 EBERSOHN GYSBERTUS GUILLAUME STANDARD FERNDALE~2139~00000 FERNDALE JOHANNESBURG - RANDBURG 201304 S A W H F S A RENTAL 3 TRUST STANDARD FERNDALE~2139~00000 FERNDALE JOHANNESBURG - RANDBURG 201304 3 100,000,000 INFINITY DYNAMIC PROP PTY LTD NEDBANK WITKOPPEN~297~00000 WITKOPPEN JOHANNESBURG - 201602 FOURWAYS/NORTHGATE 4 90,000,000 ROELAND STREET INV 3 PTY LTD STANDARD KENSINGTON B~149~00000 KENSINGTON B JOHANNESBURG - RANDBURG 201602 5 55,000,000 MIDDLEWAVE TRADE & INV 14 PTY LTD INVESTEC LANSERIA~633~00000 LANSERIA JOHANNESBURG - 201602 FOURWAYS/NORTHGATE LANSERIA~634~00000 LANSERIA JOHANNESBURG - 201602 FOURWAYS/NORTHGATE LANSERIA~635~00000 LANSERIA JOHANNESBURG - 201602 FOURWAYS/NORTHGATE 6 55,000,000 PROP DEV PTY LTD NEDBANK EDENBURG PTA~142~00000 EDENBURG JOHANNESBURG - 201602 SUNNINGHILL/RIVONIA 7 50,000,000 DANGOLD SOUTH AFRICA PTY LTD INVESTEC KLEVE HILL PARK~5~00000 KLEVE HILL PARK JOHANNESBURG - 201602 SUNNINGHILL/RIVONIA 8 47,000,000 ABZUBIX PTY LTD NEDBANK RANDJESPARK~84~00000 RANDJESPARK JOHANNESBURG - MIDRAND/KYALAMI 201602 9 40,500,000 DANGOLD SOUTH AFRICA PTY LTD INVESTEC MANUFACTA~138~00000 MANUFACTA JOHANNESBURG - WEST 201602

38 9 40,500,000 DANGOLD SOUTH AFRICA PTY LTD INVESTEC MANUFACTA~139~00000 MANUFACTA JOHANNESBURG - WEST 201602 10 33,000,000 RAMIO'S CONSTRUCTION CC INVESTEC BEVERLEY~1454~00000 BEVERLEY JOHANNESBURG - 201302 FOURWAYS/NORTHGATE 11 32,500,000 BASTION CONSTRUCTION PTY LTD NEDBANK VANDIA GROVE~2~00000 VANDIA GROVE JOHANNESBURG - RANDBURG 201502 12 31,883,963 IHS FUND II SA RENTAL TRUST 2 NEDBANK OAKDENE~754~00000 EKURHULENI - BEDFORDVIEW 201602 13 30,000,000 PLANET PLAZA CC FIRSTRAND SAXONWOLD~516~00003 SAXONWOLD JOHANNESBURG - PARKTOWN 201602 SAXONWOLD~516~00004 SAXONWOLD JOHANNESBURG - PARKTOWN 201602 14 30,000,000 SABLE PLACE PROP 106 PTY LTD INVESTEC IQ~194~00185 MAGALIESSIG JOHANNESBURG - 201602 FOURWAYS/NORTHGATE 15 30,000,000 SANDTON INDABA PTY LTD NEDBANK JR~407~00492 JOHANNESBURG - 201602 FOURWAYS/NORTHGATE 16 30,000,000 VINCEMUS INV LTD INVESTEC BEREA~1509~00000 BEREA JOHANNESBURG - 201602 CBD/BRAAMFONTEIN 17 26,569,969 IHS FUND II SA RENTAL TRUST 2 NEDBANK OAKDENE~754~00000 EKURHULENI - BEDFORDVIEW 201602 18 26,000,000 URBAN STEYN PTY LTD INVESTEC CITY & SUBURBAN~1156~00000 CITY & SUBURBAN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN CITY & SUBURBAN~1182~00001 CITY & SUBURBAN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN CITY & SUBURBAN~423~00001 CITY & SUBURBAN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN NEW DOORNFONTEIN~661~00000 NEW DOORNFONTEIN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN NEW DOORNFONTEIN~662~00000 NEW DOORNFONTEIN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN NEW DOORNFONTEIN~663~00000 NEW DOORNFONTEIN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN NEW DOORNFONTEIN~664~00000 NEW DOORNFONTEIN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN NEW DOORNFONTEIN~665~00000 NEW DOORNFONTEIN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN NEW DOORNFONTEIN~666~00000 NEW DOORNFONTEIN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN NEW DOORNFONTEIN~667~00000 NEW DOORNFONTEIN JOHANNESBURG - 201602 CBD/BRAAMFONTEIN MORE PROPERTIES ON TITLE DEED 19 25,000,000 TROPICAL PARADISE TRADING 334 PTY NEDBANK FERNDALE~1060~00000 FERNDALE JOHANNESBURG - RANDBURG 201602 LTD 20 20,000,000 XTRASPACE FLEXI OFFICE PTY LTD INVESTEC ROBINDALE~183~00000 ROBINDALE JOHANNESBURG - RANDBURG 201602 21 20,000,000 NORTHWOOD DEV PTY LTD FIRSTRAND WITKOPPEN~1213~00004 WITKOPPEN JOHANNESBURG - 201508 FOURWAYS/NORTHGATE 22 20,000,000 HURLYWOOD TRADING 21 CC INVESTEC SANDOWN~575~00008 SANDOWN JOHANNESBURG - SANDTON 201602 23 18,000,000 M & J HAM PROPS PTY LTD FIRSTRAND CITY DEEP~198~00000 CITY DEEP EKURHULENI - BEDFORDVIEW 201602 CITY DEEP~227~00000 CITY DEEP EKURHULENI - BEDFORDVIEW 201602 24 17,500,000 BEAULIEU COLLEGE PROP PTY LTD NEDBANK KYALAMI AH~107~00000 KYALAMI AH EXTS JOHANNESBURG - MIDRAND/KYALAMI 201602 KYALAMI AH~235~00000 KYALAMI AH EXTS JOHANNESBURG - MIDRAND/KYALAMI 201602 25 15,000,000 LIMOWARE PTY LTD ABSA IR~92~00869 DENVER EXT 2 JOHANNESBURG - 201602 DENVER/KENSINGTON/BRUMA 26 13,420,000 MAIN STREET 599 PTY LTD OTHER BANK CROWN CITY~52~00000 CROWN CITY EKURHULENI - BEDFORDVIEW 201602 27 12,217,991 ISO-Q CONSULTING PTY LTD FIRSTRAND HALFWAY GARDENS~161~00000 HALFWAY GARDENS JOHANNESBURG - MIDRAND/KYALAMI 201602 HALFWAY GARDENS~162~00000 HALFWAY GARDENS JOHANNESBURG - MIDRAND/KYALAMI 201602 28 12,000,000 GOTTINI LAKE TRADING 110 PTY LTD NEDBANK DUNKELD~199~00000 DUNKELD JOHANNESBURG - 201602 ROSEBANK/MELROSE 29 10,450,000 I M T FAMILY TRUST FIRSTRAND BRYANSTON~952~00000 BRYANSTON JOHANNESBURG - BRYANSTON 201602 30 10,400,000 MVILA TRUST STANDARD SANDHURST~34~00009 SANDHURST JOHANNESBURG - SANDTON 201602 31 10,300,000 AFRISTAR PROP PTY LTD FIRSTRAND KEW~772~00000 KEW INDUSTRIAL JOHANNESBURG - WYNBERG 201602 32 10,000,000 UCCSA PROP HOLDINGS PTY LTD NEDBANK BRIXTON~115~00001 BRIXTON EKURHULENI - BEDFORDVIEW 201602 33 10,000,000 GREEN SYNERGY PTY LTD INVESTEC WYNBERG PTA~30~00000 WYNBERG JOHANNESBURG - WYNBERG 201602 34 9,900,000 AFRISTAR PROP PTY LTD INVESTEC RANDPARKRIF~4875~00000 JOHANNESBURG - 201602 FOURWAYS/NORTHGATE 35 9,800,000 ALKO PROP PTY LTD STANDARD ROBERTVILLE~439~00001 ROBERTVILLE JOHANNESBURG - WEST 201602 36 9,100,000 KINGS ENTERPRISES CC STANDARD HALFWAY GARDENS~465~00000 HALFWAY GARDENS JOHANNESBURG - MIDRAND/KYALAMI 201602 37 9,000,000 UMMI PROP PTY LTD INVESTEC MELROSE~67~00001 MELROSE JOHANNESBURG - 201602 ROSEBANK/MELROSE 38 8,250,000 BURJ PROP & DEVELOPMENT PTY LTD OTHER BANK MELROSE~42~00000 MELROSE JOHANNESBURG - 201602 ROSEBANK/MELROSE 39 8,000,000 PUZZLES 4 PTY SOLUTIONS CC OTHER BANK BRYANSTON~1611~00000 BRYANSTON JOHANNESBURG - BRYANSTON 201602 40 8,000,000 JELSEP PTY LTD STANDARD FRANKENWALD~124~00002 LINBRO BUSINESS PARK JOHANNESBURG - LINBRO 201602 PARK/GREENSTONE 41 7,600,000 KING EDWARD EDUCATIONAL TRUST INVESTEC HOUGHTON ESTATE~970~00000 HOUGHTON ESTATE JOHANNESBURG - HOUGHTON ESTATE 201602 42 7,500,000 WATERFALL COUNTRY ESTATE W U Q F FIRSTRAND JUKSKEI VIEW~937~00000 WATERFALL CITY JOHANNESBURG - LINBRO 201602 PTY LTD PARK/GREENSTONE 43 6,500,000 M R X 92 INV HOLDINGS PTY LTD STANDARD SANDOWN~16~00000 SANDOWN JOHANNESBURG - SANDTON 201602 44 6,350,000 PEECH PROP INV PTY LTD INVESTEC MELROSE~215~00000 MELROSE NORTH JOHANNESBURG - 201602 ROSEBANK/MELROSE 45 6,000,000 OBERHOLZER TRUST FUND FIRSTRAND WOODMEAD~33~00006 WOODMEAD JOHANNESBURG - 201602 SUNNINGHILL/RIVONIA 46 5,500,000 LITTLE ASHFORD PTY LTD OTHER BANK STRATHAVON~48~00000 STRATHAVON JOHANNESBURG - SANDTON 201602 47 5,400,000 M S DEVELOPMENT PTY LTD INVESTEC ELTON HILL~85~00003 JOHANNESBURG - 201602 ROSEBANK/MELROSE 48 5,150,000 PINE VALLEY INV PTY LTD INVESTEC WYNBERG PTA~237~00000 WYNBERG JOHANNESBURG - WYNBERG 201602 49 5,100,000 ZOTOS PROJECTS PTY LTD INVESTEC BRYANSTON~2101~00000 BRYANSTON JOHANNESBURG - BRYANSTON 201602 50 5,100,000 WATERFALL COUNTRY ESTATE W U Q F FIRSTRAND JUKSKEI VIEW~3691~00000 WATERFALL CITY JOHANNESBURG - LINBRO 201602 PTY LTD PARK/GREENSTONE

Directors for these companies are:

39 Rank Buyer First Name Surname

1 ZENDAI DEV SOUTH AFRICA PTY LTD JOHANNES ARNOLDUS DIEPENBROEK ANTONIUS NGAN HUNG WONG WENHUI DU LI HUA LI LETICIA POTTS ZENDAI DEVELOPMENT SOUTH AFRICA PTY LTD JOHANNES ARNOLDUS DIEPENBROEK ANTONIUS NGAN HUNG WONG WENHUI DU LI HUA LI LETICIA POTTS 2 S A W H F S A RENTAL 3 TRUST EBERSOHN GYSBERTUS GUILLAUME 3 INFINITY DYNAMIC PROP PTY LTD CHUN-YU CHEN YUNG-CHIEH CHIEN 4 ROELAND STREET INV 3 PTY LTD ENGELBERT BINEDELL STEVEN JAMES HORTON 5 MIDDLEWAVE TRADE & INV 14 PTY LTD ADELLE MULLER BRETT ANTHONY HAYWARD 6 PROP DEV PTY LTD ERIC TANIOS HAMATY 7 DANGOLD SOUTH AFRICA PTY LTD FRANCOIS BEZUIDENHOUT JOSE MANUEL DA CAMARA ROQÈRIO CORREIA DINIZ 8 ABZUBIX PTY LTD HERBERT CEDRICK THELEDI SADNESS 10 RAMIO'S CONSTRUCTION CC BRUCE MARK MILLER SHAUN ANDREW BOWLER MANUEL JORGE DE SOUSA RAMOS 11 BASTION CONSTRUCTION PTY LTD MICHAEL ANDREW GROBLER GERRY COMNINOS 12 IHS FUND II SA RENTAL TRUST 2 13 PLANET PLAZA CC MORESTAT CORPORATE SERVICES HAROON OMAR JOOSUB 14 SABLE PLACE PROP 106 PTY LTD PAUL HARWOOD NASH 15 SANDTON INDABA PTY LTD PETER CHARLES LAAKS MARTIN RALPH BAKER ROBERT EDWARD THOMAS MICKEL STEPHANUS ESIAS BOTHA JOHN TOBIAS MYNHARDT 16 VINCEMUS INV LTD VINCENT PAUL GODFREY COTTERELL ANTHONY CHARLES COTTERELL PATRICK ANITA BHIKA 18 MORE PROPERTIES ON TITLE DEED URBAN STEYN PTY LTD JONATHAN SIMON LIEBMANN RIAAN JACOBUS PRETORIUS RICKY LUNTZ 19 TROPICAL PARADISE TRADING 334 PTY LTD ALEXANDER MEMORY DUBE HERBERT DUBE 20 XTRASPACE FLEXI OFFICE PTY LTD ABRAHAM MARTHINUS SCHNEIDER COLLEEN MAY HUNTER GARETH BRUMMER 21 NORTHWOOD DEV PTY LTD ANDREW MARK SIMPSON MARTIN DAVID STUMBLES ARTHUR ALBERT STOKES BOTHA MARK VAUGHAN FRIEBUS JOHN WHITFIELD WHITFIELD 22 HURLYWOOD TRADING 21 CC DELON ANTHONY KATZ 23 M & J HAM PROPS PTY LTD MICHAEL ANTHONY HAM JUDY ANN HAM 24 BEAULIEU COLLEGE PROP PTY LTD DESMOND DE BEER PETER ALEXANDER GILLESPIE 25 LIMOWARE PTY LTD DAVID MICHAEL MAYERS JONATHAN SIMON LIEBMANN RICKY LUNTZ 26 MAIN STREET 599 PTY LTD STEPHEN ANTHONY BURNETT MARK ANTHONY TREHEARN-TEMLETT GORDON NEVILLE DAWSON PETRUS JOHANNES BEKKER JACOBUS ZENZO RAYMOND LUSENGO 27 ISO-Q CONSULTING PTY LTD VINCENT MULALO MAGODA 28 GOTTINI LAKE TRADING 110 PTY LTD BENEDICTA ANGELIKI NAKOS FRANCOIS DE BRUYN CILLIERS COENRAAD HENDRIK KOTZE CAROLLYN ANNE MITCHELL

40 29 I M T FAMILY TRUST 30 MVILA TRUST 31 AFRISTAR PROP PTY LTD DANIEL NEIL MILNER JUSTIN MILNER 32 UCCSA PROP HOLDINGS PTY LTD MORESTAT CORPORATE SERVICES FLORINCE NORRIS ALISTAIR ARENDS 33 GREEN SYNERGY PTY LTD 35 ALKO PROP PTY LTD JACOBUS PETRUS MEYER ALLAN NAICKER 36 KINGS ENTERPRISES CC HELEN LOUISE BÜHRS 37 UMMI PROP PTY LTD KENNETH JAMES DENTON 38 BURJ PROP & DEVELOPMENT PTY LTD 39 PUZZLES 4 PTY SOLUTIONS CC TIVANA BREDGET LUCHE IVACIK 40 JELSEP PTY LTD RICHARD PETER BASIL JELLEY 41 KING EDWARD EDUCATIONAL TRUST 42 WATERFALL COUNTRY ESTATE W U Q F PTY LTD YAHYA MUHAMMAD AMEEN MIA MUHAMMAD AHMED MIA ZAKARIYA MIA IBRAHIM MIA 43 M R X 92 INV HOLDINGS PTY LTD NEIL STEPHEN BARROW PAUL DOUGLAS BARROW 44 PEECH PROP INV PTY LTD 45 OBERHOLZER TRUST FUND 46 LITTLE ASHFORD PTY LTD FRANCOIS WESSEL SWART MARLI HOFFMAN JENA MUKINA ANDRE PIERRE BRINK 47 M S DEVELOPMENT PTY LTD MBUSO KHOZA 48 PINE VALLEY INV PTY LTD RYAN JAMES ANTHONY CHRISTY GEOFFREY JONATHON MAUD LAWRENCE NICHOLAS RUMBLE 49 ZOTOS PROJECTS PTY LTD KONSTANDINOS ZOTOS

41 2.1.3 City of Tshwane

The transactional activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 PRETORIA - EAST 2,141 16.9% 2,032 28.5% 3,834 32.7% 433 41.2% 3,925 32.7% 291 51.4% PRETORIA - BROOKLYN 2,005 15.8% 441 6.2% 1,220 10.4% 201 19.1% 1,386 11.6% 96 16.9% PRETORIA - NORTH 1,401 11.0% 1,192 16.7% 1,976 16.9% 198 18.9% 2,070 17.2% 60 10.6% PRETORIA - CENTURION 2,737 21.5% 2,163 30.3% 2,983 25.5% 131 12.5% 2,936 24.5% 59 10.5% PRETORIA - CBD 4,023 31.7% 1,281 17.9% 1,571 13.4% 88 8.3% 1,588 13.2% 61 10.7% NOT ALLOCATED 396 3.1% 32 0.5% 129 1.1% 0 0.0% 94 0.8% 0 0.0% Total 12,702 7,142 11,712 1,051 11,999 567

The bond activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 PRETORIA - EAST 3,218 31.5% 1,407 22.0% 2,524 18.3% 433 34.0% 2,644 18.5% 332 58.3% PRETORIA - CBD 2,106 20.6% 1,038 16.2% 3,192 23.1% 391 30.7% 3,501 24.5% 85 14.9% PRETORIA - BROOKLYN 424 4.1% 306 4.8% 839 6.1% 184 14.4% 1,014 7.1% 64 11.2% PRETORIA - CENTURION 3,104 30.4% 2,908 45.4% 4,428 32.1% 169 13.3% 4,493 31.5% 61 10.7% PRETORIA - NORTH 1,226 12.0% 738 11.5% 2,310 16.7% 97 7.6% 2,109 14.8% 28 4.9% NOT ALLOCATED 141 1.4% 6 0.1% 515 3.7% 0 0.0% 515 3.6% 0 0.0% Total 10,219 6,402 13,808 1,273 14,276 570

42 The Market Share is as follows:

43 44 The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 352,388,085 LYNNWOOD BRIDGE OFFICE PARK PTY LTD ATTACQ LTD LYNNWOOD GLEN~684~00000 LYNNWOOD GLEN PRETORIA - EAST 2 53,432,500 MENLYN MAINE HOTEL TRUST MENLYN MAINE INV HOLDINGS PTY LTD WATERKLOOF GLEN~883~00002 PRETORIA - EAST 3 47,000,000 OZMIK PROP INV PTY LTD DIV-PROP 14 PTY LTD NIEUW MUCKLENEUK~426~00000 PRETORIA - BROOKLYN 4 46,740,000 GOVERNMENT EMPLOYEES PENSION FUND CITY OF TSHWANE METROPOLITAN ERASMUSKLOOF~671~00000 ERASMUSKLOOF PRETORIA - EAST MUNICIPALITY ERASMUSKLOOF~674~00000 ERASMUSKLOOF PRETORIA - EAST 5 32,500,000 FAMILY MARKET HOLDINGS PTY LTD TRADERS SQUARE INV CO PTY LTD MONTANA PARK~2655~00000 MONTANA PARK PRETORIA - NORTH 6 31,920,000 OCTODEC INV LTD FOLANG HOLDINGS PTY LTD PRETORIA~3096~00000 PRETORIA CENTRAL PRETORIA - CBD 7 20,520,000 UNION CARBIDE SOUTH AFRICA PTY LTD HI 5 INTEGRATED LOGISTICS PTY LTD JR~269~00025 PRETORIA - NORTH JR~300~00167 PRETORIA - NORTH 8 19,000,000 DUNROSE INV 24 PTY LTD MALATI PROP PTY LTD IRENE~924~00000 ROUTE 21 CORPORATE PRETORIA - CENTURION PARK 9 17,475,000 MAKOYA PROP PTY LTD STONEHILL DEVELOPMENTS PTY LTD WAPADRAND~710~00000 WAPADRAND PRETORIA - EAST 10 17,000,000 KGOMO JOBE FAMILY TRUST BELLAGIO TRUST WATERKLOOF PTA~593~00000 WATERKLOOF PRETORIA - BROOKLYN 11 16,000,000 SEBASTIAO FARMS PTY LTD KUNITZ WALTER MANFRED JR~386~00000 PRETORIA - CENTURION JR~386~00207 PRETORIA - CENTURION 12 14,250,000 AMPATH TRUST F & H KRUIJER INV PTY LTD HIGHVELD~1~00002 HIGHVELD TECHNO PARK PRETORIA - CENTURION 13 13,500,000 BENCHMARK EQUITY PTY LTD GEORGE THOMAS INV PTY LTD SUNNYSIDE PTA~1161~00000 SUNNYSIDE PRETORIA - CBD 14 13,000,000 SOMBUYANA PROP DEV & PROJECTS CC HEYNS MARIUS LODEWUCUS SILVER LAKES~1611~00003 SILVER LAKES PRETORIA - EAST 15 10,316,102 BUSINESS VENTURE INV NO 1658 PTY LTD AFGRI OPERATIONS LTD ERASMUS~1001~00000 PRETORIA - EAST ERASMUS~251~00000 PRETORIA - EAST ERASMUS~253~00000 PRETORIA - EAST ERASMUS~255~00000 PRETORIA - EAST 16 10,260,000 SAFARI INV (RSA) LTD AVATT CONSULTING CC LYNNWOOD~583~00000 LYNNWOOD PRETORIA - BROOKLYN LYNNWOOD~584~00000 LYNNWOOD PRETORIA - BROOKLYN 17 10,081,362 SAFDEV S S D C PTY LTD CITY OF TSHWANE METROPOLITAN JR~259~00037 PRETORIA - NORTH MUNICIPALITY 18 9,850,000 G F WEALTH PROP PTY LTD HUDSON AVENUE INV PTY LTD EQUESTRIA~1662~00000 EQUESTRIA PRETORIA - EAST 19 9,850,000 TSHWANE MUSLIM INV PTY LTD COPPER MOON TRADING 158 PTY LTD WOLMER~354~00001 WOLMER PRETORIA - NORTH 20 9,800,000 CAMPUSKEY PTY LTD GOUWS VENICIA JEANETTA HATFIELD~367~00001 HATFIELD PRETORIA - CBD HATFIELD~367~00002 HATFIELD PRETORIA - CBD 21 9,644,400 UNIQON WONINGS PTY LTD MASTER CLINIC PTY LTD BROOKLYN~778~00001 BROOKLYN PRETORIA - BROOKLYN 22 9,500,000 PECULIAR PROP PTY LTD GROWTHPOINT PROP LTD SILVERTONDALE~203~00000 SILVERTONDALE PRETORIA - EAST 23 8,548,352 FRIEDSHELF 1681 PTY LTD TRENSTAR S A PTY LTD ROSSLYN~94~00000 ROSSLYN PRETORIA - NORTH 24 7,501,200 NUMIGRAPH PTY LTD SUNKLOOF PROP CC JR~298~00034 KAMEELDRIFT EAST PRETORIA - EAST 25 7,000,000 GREY JADE TRADE & INVEST 49 PTY LTD GERLE TRADING PTY LTD JR~384~00021 PRETORIA - CENTURION 26 6,600,600 R T I PROP PTY LTD AQUATEK PROP TRUST ROOIHUISKRAAL~2672~00000 GATEWAY INDUSTRIAL PARK PRETORIA - CENTURION 27 5,900,000 T & D J VENTER TRUST HEUNES MANUEL LYNNWOOD~913~00000 LYNNWOOD PRETORIA - BROOKLYN 28 5,900,000 D A TYRER TRUST FIFTH SEASON INV 30 PTY LTD HENNOPSPARK~699~00000 HENNOPS PARK PRETORIA - CENTURION INDUSTRIAL 29 5,867,336 KYOGUARD PTY LTD UNIQON WONINGS PTY LTD WILLOW PARK MANOR~521~00000 WILLOW PARK MANOR PRETORIA - EAST WILLOW PARK MANOR~522~00000 WILLOW PARK MANOR PRETORIA - EAST 30 5,800,000 ROMANSS PIZZA (PRETORIA) CC NIMAV INV PTY LTD WATERKLOOF RIDGE~1385~00000 WATERKLOOF RIDGE PRETORIA - BROOKLYN 31 5,700,000 INTO VEST PTY LTD MONTURF KONSTRUKSIE CC ARCADIA~142~00000 ARCADIA PRETORIA - CBD

Directors for these companies are:

Rank Buyer First Name Surname

1 LYNNWOOD BRIDGE OFFICE PARK PTY LTD MORNE CORNELIUS WILKEN MELT HAMMAN 2 MENLYN MAINE HOTEL TRUST 3 OZMIK PROP INV PTY LTD RASHID ABOOBAKER 4 GOVERNMENT EMPLOYEES PENSION FUND 5 FAMILY MARKET HOLDINGS PTY LTD 6 OCTODEC INV LTD ANTHONY KEVIN STEIN DEREK PEDOE COHEN GERARD HENDRIK KEMP JEFFREY PERCY WAPNICK PETRUS JACOBUS STRYDOM N/A PERMANENT SERVICES (PTY) LTD SHARON KRAMER MYRON ZADWELL POLACK 7 UNION CARBIDE SOUTH AFRICA PTY LTD CARSTERN LARSEN PHILIPPE JEAN ANTOINE POUILLON SENTRACHEM 8 DUNROSE INV 24 PTY LTD MORESTAT CORPORATE SERVICES RUPERT HACKWILL RUI MIGUEL RODRIGUES NOBRE STEVEN TREVOR ABROMOWITZ DAVID WILLIAM DENHOLM ROBERTSON 9 MAKOYA PROP PTY LTD JOHANNES MALGAS

45 10 KGOMO JOBE FAMILY TRUST 11 SEBASTIAO FARMS PTY LTD GERARDUS GOMES SEBASTIAO 12 AMPATH TRUST 13 BENCHMARK EQUITY PTY LTD FRANS LOURENS SWANEPOEL LODEWYK FRANS SWANEPOEL 14 SOMBUYANA PROP DEV & PROJECTS CC GEORGE MNYAZWA MASANABO 15 BUSINESS VENTURE INV NO 1658 PTY LTD MARTIN LEON KOTZE FRANCOIS STRYDOM ELIZABETH MARIA JOYNT CHRISTIAAN PHILIPPUS VENTER CORNELIUS FRANCOIS KRUGER GIDEON JOHANNES GEEL 16 SAFARI INV (RSA) LTD JOHANNES ZACHARIAS ENGELBRECHT FAITH NONDUMISO NKOSI JOHANNES COENRADUS VERWAYEN MOLUPE HENDRIK TSOLO KYRIACOS ANDREA PASHIOU MARK MINNAAR FRANCOIS JAKOBUS MARAIS JOUBERT ALLAN EDWARD WENTZEL JACOBUS PHILIPUS SNYMAN STEPHANUS JACOBUS KRUGER 17 SAFDEV S S D C PTY LTD PHILLIP SAUNDERS HENDRIK FRANCOIS BEKKER KOOS TOEBES 18 G F WEALTH PROP PTY LTD GERT HUGO FRANS WILHELMUS TE GROEN 19 TSHWANE MUSLIM INV PTY LTD SULIMAN OMAR EBRAHIM MOHAMED DOCKRAT EBRAHIM SULIMAN DOCKRAT AHMED DOCKRAT 20 CAMPUSKEY PTY LTD FRANCOIS ANTOIN JANSE VAN RENSBURG BENJAMIM NENO FRANCOIS JUNIUS HAASBROEK JAN CHRISTIAAN HEUNIS MARK MOUTON LEON DEWALD HOWELL 21 UNIQON WONINGS PTY LTD MARTHINUS THEUNIS BOTHA STEYN HENDRIK JOHANNES BENDEMAN JACOBUS ETIENNE COETZER 22 PECULIAR PROP PTY LTD GERRIT ANTONI WIBBELINK MORESTAT CORPORATE SERVICES 23 FRIEDSHELF 1681 PTY LTD THOMAS ARNOLDUS DU PLESSIS PETRUS MOHAMMED ZAIN LAHER MARIUS NEAL CARSTENS 24 NUMIGRAPH PTY LTD ANDRIES DE LANGE SONE MARIE DE LANGE 25 GREY JADE TRADE & INVEST 49 PTY LTD ZAIN BHIKHA 26 R T I PROP PTY LTD GREGORY IAN BADENHORST PIERRE VAN RENSBURG 27 T & D J VENTER TRUST 28 D A TYRER TRUST 29 KYOGUARD PTY LTD PHILIPPUS JOHANNES MARX 30 ROMANSS PIZZA (PRETORIA) CC ARTHUR ATHANGCIOS NICOLAKAKIS 31 INTO VEST PTY LTD WILLEM ANTONIE ROOSENSCHOON MAARTEN ROOSENSCHOON DEON ROOSENSCHOON

The top commercial mortgages greater than R5 million and limited to 50 in February 2016 are:

Rank Bond Amount Buyer Bank Erf Key Suburb Node First Transaction at

1 250,000,000 MENLYN MAINE HOTEL TRUST INVESTEC WATERKLOOF GLEN~883~00002 PRETORIA - EAST 201602 2 105,800,000 INTO VEST PTY LTD NEDBANK ARCADIA~1206~00000 ARCADIA PRETORIA - CBD 201509 ARCADIA~243~00000 ARCADIA PRETORIA - CBD 201509 ARCADIA~427~00000 ARCADIA PRETORIA - CBD 201509 3 105,800,000 INTO VEST PTY LTD NEDBANK ARCADIA~1131~00000 ARCADIA PRETORIA - CBD 201509 4 40,000,000 DUNROSE INV 24 PTY LTD NEDBANK IRENE~924~00000 ROUTE 21 CORPORATE PARK PRETORIA - CENTURION 201602 5 36,000,000 OZMIK PROP INV PTY LTD NEDBANK NIEUW MUCKLENEUK~426~00000 PRETORIA - BROOKLYN 201602 6 35,000,000 ARCTOZONE INV PTY LTD INVESTEC LYNNWOOD RIDGE~537~00000 PRETORIA - EAST 201602

46 7 35,000,000 MENLYN CORPORATE PARK 2 PTY LTD INVESTEC HATFIELD~804~00000 PRETORIA - CBD 201511 8 27,000,000 STADSRAAD VAN PRETORIA ABSA PHILIP NEL PARK~94~00000 PHILIP NEL PARK PRETORIA - CBD 201602 9 18,400,000 C D T HOMES PTY LTD NEDBANK COUNTRY VIEW ESTATE~3~00000 COUNTRY VIEW ESTATE PRETORIA - EAST 201506 10 16,600,000 SHAPIRO CENTRAL INV PTY LTD STANDARD PRETORIA~368~00001 PRETORIA CENTRAL PRETORIA - CBD 201602 11 15,000,000 INALTO BETON POMPE CC ABSA PARADISO~1~00000 LOMBARDY ESTATE PRETORIA - EAST 201602 12 15,000,000 FRIEDSHELF 1681 PTY LTD FIRSTRAND ROSSLYN~94~00000 ROSSLYN PRETORIA - NORTH 201602 13 13,335,000 FELIX PROP TRUST INVESTEC HATFIELD~781~00000 HATFIELD PRETORIA - CBD 201602 HATFIELD~783~00000 HATFIELD PRETORIA - CBD 201602 TIJGER VALLEI~779~00000 TIJGER VALLEI PRETORIA - EAST 201602 14 13,000,000 DAWIE SWART BELEGGINGS TRUST ABSA BLAIR ATHOLL~440~00000 BLAIR ATHOLL PRETORIA - CENTURION 201602 15 10,850,000 SNOWY OWL PROP 39 PTY LTD NEDBANK MENLO PARK~520~00000 MENLO PARK PRETORIA - BROOKLYN 201602 16 10,245,000 SUNSHINE STREET INV 56 PTY LTD INVESTEC ELARDUS PARK~1919~00000 ELARDUS PARK PRETORIA - EAST 201602 ERASMUSKLOOF~274~00000 ERASMUSKLOOF PRETORIA - EAST 201602 FAERIE GLEN PTA~827~00002 FAERIE GLEN PRETORIA - EAST 201602 GROENKLOOF~542~00003 GROENKLOOF PRETORIA - BROOKLYN 201602 HATFIELD~613~00000 HATFIELD PRETORIA - CBD 201602 HILLCREST PTA~162~00002 HILLCREST PRETORIA - BROOKLYN 201602 MENLYN~13~00000 MENLYN PRETORIA - EAST 201602 MORELETAPARK~6532~00000 MORELETA PARK PRETORIA - EAST 201602 WAPADRAND~33~00000 WAPADRAND PRETORIA - EAST 201602 WATERKLOOF GLEN~851~00001 WATERKLOOF GLEN PRETORIA - EAST 201602 17 10,000,000 CAMPUSKEY PTY LTD NEDBANK HATFIELD~367~00001 HATFIELD PRETORIA - CBD 201602 HATFIELD~367~00002 HATFIELD PRETORIA - CBD 201602 18 10,000,000 KGOMO JOBE FAMILY TRUST NEDBANK WATERKLOOF PTA~593~00000 WATERKLOOF PRETORIA - BROOKLYN 201602 19 9,500,000 PECULIAR PROP PTY LTD FIRSTRAND SILVERTONDALE~203~00000 SILVERTONDALE PRETORIA - EAST 201602 20 9,000,000 RESCOL INV PTY LTD OTHER BANK BOOYSENS PTA~158~00000 BOOYSENS PRETORIA - NORTH 201602 SOLOPROP 1117 PTY LTD OTHER BANK BOOYSENS PTA~160~00000 BOOYSENS PRETORIA - NORTH 201602 BOOYSENS PTA~160~00002 BOOYSENS PRETORIA - NORTH 201602 21 8,325,000 SUNSHINE STREET INV 56 PTY LTD INVESTEC BOARDWALK VILLAS~3~00000 BOARDWALK VILLAS PRETORIA - EAST 201602 BOARDWALK~175~00000 BOARDWALK PRETORIA - EAST 201602 ELARDUS PARK~1921~00000 ELARDUS PARK PRETORIA - EAST 201602 ERASMUSKLOOF~360~00001 ERASMUSKLOOF PRETORIA - EAST 201602 FAERIE GLEN PTA~3628~00000 FAERIE GLEN PRETORIA - EAST 201602 GARSFONTEIN~3781~00000 GARSFONTEIN PRETORIA - EAST 201602 MONUMENT PARK~1257~00002 MONUMENT PARK PRETORIA - BROOKLYN 201602 MOOIKLOOF RIDGE~92~00000 MOOIKLOOF RIDGE PRETORIA - EAST 201602 MORELETAPARK~2881~00000 MORELETA PARK PRETORIA - EAST 201602 MORELETAPARK~5913~00000 MORELETA PARK PRETORIA - EAST 201602 MORE PROPERTIES ON TITLE DEED 22 8,100,000 QUALIPLAN PTY LTD NEDBANK OLIEVENHOUTBOS~7384~00000 OLIEVENHOUTSBOS PRETORIA - CENTURION 201602 23 7,900,000 RYANZAC PROP PTY LTD STANDARD PRETORIA~2760~00001 PRETORIA CENTRAL PRETORIA - CBD 201602 24 7,650,000 FELIX TRUST INVESTEC BOARDWALK MEANDER~126~00000 BOARDWALK MEANDER PRETORIA - EAST 201602 DIE WILGERS~1285~00000 DIE WILGERS PRETORIA - EAST 201602 MENLYN~13~00000 MENLYN PRETORIA - EAST 201602 MOOIKLOOF RIDGE~83~00000 MOOIKLOOF RIDGE PRETORIA - EAST 201602 25 7,250,000 PLOT 157 ONDERSTEPOORT PTY LTD ABSA JR~300~00157 WONDERBOOM AH PRETORIA - NORTH 201602 26 7,000,000 FELIX PROP 2 TRUST INVESTEC HILLCREST PTA~162~00002 HILLCREST PRETORIA - BROOKLYN 201602 HILLCREST PTA~164~00000 HILLCREST PRETORIA - BROOKLYN 201602 27 6,895,000 G F WEALTH PROP PTY LTD FIRSTRAND EQUESTRIA~1662~00000 EQUESTRIA PRETORIA - EAST 201602 28 6,000,000 H M B FAMILY TRUST ABSA JR~324~00224 MONTANA PARK PRETORIA - NORTH 201602 29 5,040,000 MHABRUK INV CC OTHER BANK SUNDERLAND RIDGE~118~00000 SUNDERLAND RIDGE INDUSTRIAL PRETORIA - CENTURION 201602

Directors for these companies are:

Rank Buyer First Name Surname

1 MENLYN MAINE HOTEL TRUST 2 INTO VEST PTY LTD DEON ROOSENSCHOON MAARTEN ROOSENSCHOON WILLEM ANTONIE ROOSENSCHOON 4 DUNROSE INV 24 PTY LTD RUPERT HACKWILL MORESTAT CORPORATE SERVICES RUI MIGUEL RODRIGUES NOBRE STEVEN TREVOR ABROMOWITZ DAVID WILLIAM DENHOLM ROBERTSON 5 OZMIK PROP INV PTY LTD RASHID ABOOBAKER 6 ARCTOZONE INV PTY LTD JACOBUS PETRUS FOURIE ROBERT JAMES NICOLELLA JOHN ANTHONY COPELYN MORESTAT CORPORATE SERVICES THEVENTHERAN GOVENDER GOVINDSAMY 7 MENLYN CORPORATE PARK 2 PTY LTD PETRUS JOHANNES FEENSTRA STUART KYLE SHACKLETON 8 STADSRAAD VAN PRETORIA 9 C D T HOMES PTY LTD CHARLES LE ROUX DU TOIT

47 9 C D T HOMES PTY LTD MALHERBE LOURENS SECRETARIAL SERVICES CC 10 SHAPIRO CENTRAL INV PTY LTD AUBREY SHAPIRO 11 INALTO BETON POMPE CC ANDRE WILLEM BAIN JOHANNES GERHARDUS JOUBERT NICOLAAS CHRISTIAAN DE LANGE 12 FRIEDSHELF 1681 PTY LTD THOMAS ARNOLDUS DU PLESSIS PETRUS MARIUS NEAL CARSTENS MOHAMMED ZAIN LAHER 13 FELIX PROP TRUST 14 DAWIE SWART BELEGGINGS TRUST 15 SNOWY OWL PROP 39 PTY LTD ANNETTE DOROTHEA COETZER THEO COETZER 16 SUNSHINE STREET INV 56 PTY LTD CORNE LIEBENBERG 17 CAMPUSKEY PTY LTD LEON DEWALD HOWELL JAN CHRISTIAAN HEUNIS MARK MOUTON FRANCOIS ANTOIN JANSE VAN RENSBURG BENJAMIM NENO FRANCOIS JUNIUS HAASBROEK 18 KGOMO JOBE FAMILY TRUST 19 PECULIAR PROP PTY LTD GERRIT ANTONI WIBBELINK MORESTAT CORPORATE SERVICES 20 RESCOL INV PTY LTD ANTHONY HILLARD RESNIK MICHAEL LOUIS RESNIK SOLOPROP 1117 PTY LTD NELIO CORREIA DINIS 21 MORE PROPERTIES ON TITLE DEED 22 QUALIPLAN PTY LTD ANTON BIEHLER 23 RYANZAC PROP PTY LTD AUBREY SHAPIRO 24 FELIX TRUST 25 PLOT 157 ONDERSTEPOORT PTY LTD ANTONIO PRUDEMEIO DE SOUSA 26 FELIX PROP 2 TRUST 27 G F WEALTH PROP PTY LTD FRANS WILHELMUS TE GROEN GERT HUGO 28 H M B FAMILY TRUST 29 MHABRUK INV CC MOHAMED OSMAN ESSA

48 2.1.4 Ekurhuleni Municipality

The transactional activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 EKURHULENI - BOKSBURG 2,603 34.9% 3,744 40.1% 3,035 28.7% 1,894 58.5% 4,283 35.0% 1,842 70.5% EKURHULENI - ALBERTON 1,380 18.5% 419 4.5% 632 6.0% 597 18.4% 959 7.8% 555 21.2% EKURHULENI - BEDFORDVIEW 484 6.5% 634 6.8% 2,043 19.4% 273 8.4% 2,294 18.8% 28 1.1% EKURHULENI - KEMPTON PARK 919 12.3% 1,388 14.9% 2,150 20.4% 220 6.8% 2,235 18.3% 113 4.3% EKURHULENI - BENONI 399 5.3% 803 8.6% 852 8.1% 113 3.5% 838 6.9% 51 2.0% EKURHULENI - GERMISTON 986 13.2% 1,292 13.8% 575 5.4% 60 1.9% 507 4.1% 0 0.0% EKURHULENI - SPRINGS/BRAKPAN 498 6.7% 524 5.6% 707 6.7% 45 1.4% 599 4.9% 24 0.9% EKURHULENI - EDENVALE 143 1.9% 187 2.0% 99 0.9% 23 0.7% 116 0.9% 0 0.0% NOT ALLOCATED 45 0.6% 354 3.8% 420 4.0% 13 0.4% 350 2.9% 0 0.0% JOHANNESBURG - HOUGHTON ESTATE 0 0.0% 0 0.0% 47 0.4% 0 0.0% 47 0.4% 0 0.0% Total 7,457 9,345 10,560 3,239 12,226 2,613

The bond activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 EKURHULENI - BOKSBURG 1,643 27.3% 3,877 34.9% 2,188 22.6% 524 52.0% 2,636 27.2% 263 49.5% EKURHULENI - KEMPTON PARK 826 13.7% 1,927 17.4% 1,490 15.4% 299 29.7% 1,520 15.7% 209 39.4% EKURHULENI - BENONI 945 15.7% 1,274 11.5% 1,101 11.4% 80 7.9% 1,094 11.3% 15 2.8% EKURHULENI - BEDFORDVIEW 600 10.0% 2,022 18.2% 334 3.4% 34 3.4% 368 3.8% 21 4.0% EKURHULENI - GERMISTON 555 9.2% 438 3.9% 501 5.2% 28 2.7% 465 4.8% 13 2.4% EKURHULENI - EDENVALE 40 0.7% 115 1.0% 134 1.4% 23 2.3% 151 1.6% 0 0.0% EKURHULENI - ALBERTON 710 11.8% 952 8.6% 3,088 31.9% 20 2.0% 2,676 27.6% 10 1.9% NOT ALLOCATED 343 5.7% 305 2.7% 251 2.6% 0 0.0% 206 2.1% 0 0.0% EKURHULENI - SPRINGS/BRAKPAN 357 5.9% 193 1.7% 605 6.2% 0 0.0% 593 6.1% 0 0.0% Total 6,019 11,103 9,691 1,008 9,709 531

49 The Market Share is as follows:

50 51 The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node Title Deed No

1 911,462,954 CAPITAL PROPFUND 2 PTY LTD PANGBOURNE PROP LTD ISANDO~519~00000 ISANDO EKURHULENI - BOKSBURG T3680/2016 2 690,000,000 MAIN STREET 1310 PTY LTD NAMPAK PRODUCTS LTD IR~143~00008 EKURHULENI - ALBERTON T110315/2015 IR~143~00020 EKURHULENI - ALBERTON T110315/2015 IR~143~00023 EKURHULENI - ALBERTON T110315/2015 3 410,235,243 INVESTEC PROP FUND LTD TRUZEN 102 TRUST HENVILLE~117~00000 EKURHULENI - BOKSBURG T53658/2015 HENVILLE~118~00000 EKURHULENI - BOKSBURG T53658/2015 4 230,280,000 LISALINE PTY LTD TELKOM S A LTD IR~83~00772 EKURHULENI - BOKSBURG T114327/2015 5 137,000,000 EQUITES PROP FUND LTD TUNNEY RIDGE PROP PTY LTD TUNNEY~497~00000 EKURHULENI - BOKSBURG T2924/2016 6 96,500,000 CAPITAL PROPFUND PTY LTD PANHOLD PTY LTD JET PARK~500~00000 JET PARK EKURHULENI - BOKSBURG T1585/2016 JET PARK~501~00000 JET PARK EKURHULENI - BOKSBURG T1585/2016 JET PARK~502~00000 JET PARK EKURHULENI - BOKSBURG T1585/2016 JET PARK~503~00000 JET PARK EKURHULENI - BOKSBURG T1585/2016 JET PARK~516~00000 JET PARK EKURHULENI - BOKSBURG T1585/2016 JET PARK~609~00000 JET PARK EKURHULENI - BOKSBURG T1585/2016 7 55,200,000 VALUMAX MIDRAND PTY LTD SUMMER SYMPHONY PROP 264 CC JR~410~00207 EKURHULENI - KEMPTON PARK T3554/2016 8 50,000,000 GROWTHPOINT PROP LTD S A RETAIL PROP PTY LTD ANDERBOLT~438~00001 EKURHULENI - BOKSBURG T2714/2016 ANDERBOLT~8~00000 ANDERBOLT EKURHULENI - BOKSBURG T2714/2016 9 34,378,039 BLACK STOCK INV PTY LTD CUDOFIELD PTY LTD APEX~368~00000 APEX EKURHULENI - BENONI T1184/2016 10 34,065,077 CAPITAL PROPFUND PTY LTD IFOUR PROP THREE PTY LTD MEADOWDALE~107~00000 MEADOWDALE EKURHULENI - BOKSBURG T1584/2016 MEADOWDALE~108~00000 MEADOWDALE EKURHULENI - BOKSBURG T1584/2016 MEADOWDALE~109~00000 MEADOWDALE EKURHULENI - BOKSBURG T1584/2016 11 28,500,000 AFGRI POULTRY PTY LTD IMPERIAL COLD LOGISTICS PTY LTD CLAYVILLE~1270~00000 CLAYVILLE INDUSTRIAL EKURHULENI - KEMPTON PARK T5845/2016 CLAYVILLE~508~00004 EKURHULENI - KEMPTON PARK T5845/2016 12 22,250,000 CAPITAL PROPFUND PTY LTD IFOUR PROP THREE PTY LTD MEADOWDALE~261~00000 MEADOWDALE EKURHULENI - BOKSBURG T1376/2016 13 21,888,000 BOULDER PROP INV PTY LTD NEDBANK LTD PRIMROSE HILL~275~00000 PRIMROSE HILL EKURHULENI - BEDFORDVIEW T936/2016 PRIMROSE HILL~453~00000 EKURHULENI - BEDFORDVIEW T936/2016 14 20,520,000 QUALITY PARK PTY LTD TRI-INVEST 4 PTY LTD ALRODE~691~00000 ALRODE EKURHULENI - ALBERTON T4198/2016 15 15,872,825 CAPITAL PROPFUND PTY LTD PANGBOURNE PROP LTD JET PARK~620~00000 JET PARK EKURHULENI - BOKSBURG T1755/2016 16 14,390,340 CAPITAL PROPFUND 2 PTY LTD PANGBOURNE PROP LTD SPARTAN~602~00233 SPARTAN EKURHULENI - KEMPTON PARK T7570/2016 17 14,147,024 CAPITAL PROPFUND PTY LTD PANGBOURNE PROP LTD JET PARK~619~00000 JET PARK EKURHULENI - BOKSBURG T1582/2016 18 14,000,000 BOOYSENS ROAD PROP PTY LTD ASTRAPAK PROP HOLDINGS PTY LTD VULCANIA~87~00000 VULCANIA EKURHULENI - SPRINGS/BRAKPAN T54676/2015 19 13,273,225 EASTMOOR PROPS PTY LTD GRIFFIN J D RUSTENBURG PROP PTY IR~83~01064 BEYERS PARK EKURHULENI - BOKSBURG T10424/2016 LTD IR~83~01065 BEYERS PARK EKURHULENI - BOKSBURG T10424/2016 20 11,400,000 PHUM RECRUIT SOLUTIONS CC OMNIPACT S A INV 47 PTY LTD POMONA ESTATES~278~00004 POMONA ESTATES AH EKURHULENI - BENONI T114413/2015 21 10,619,016 CAPITAL PROPFUND PTY LTD PANGBOURNE PROP LTD JET PARK~624~00000 JET PARK EKURHULENI - BOKSBURG T2404/2016 22 9,750,000 CAPITAL PROPFUND PTY LTD PANGBOURNE PROP LTD JET PARK~625~00000 JET PARK EKURHULENI - BOKSBURG T2405/2016 23 9,750,000 ALPHACHRON INV PTY LTD CYCAD PIPELINES PTY LTD NUFFIELD~159~00005 NUFFIELD EKURHULENI - SPRINGS/BRAKPAN T2407/2016 NUFFIELD~159~00006 NUFFIELD EKURHULENI - SPRINGS/BRAKPAN T2407/2016 24 9,200,000 PROVINCIAL GOVERNMENT OF LONCON DEVELOPMENTS PTY LTD VOSLOORUS~16379~00000 MFUNDO PARK EKURHULENI - ALBERTON T540/2016 GAUTENG VOSLOORUS~16380~00000 MFUNDO PARK EKURHULENI - ALBERTON T540/2016 VOSLOORUS~16381~00000 MFUNDO PARK EKURHULENI - ALBERTON T540/2016 25 8,900,000 CAPITAL PROFUND PTY LTD PANGBOURNE PROP LTD JET PARK~395~00000 JET PARK EKURHULENI - BOKSBURG T1384/2016 JET PARK~396~00000 JET PARK EKURHULENI - BOKSBURG T1384/2016 JET PARK~417~00000 JET PARK EKURHULENI - BOKSBURG T1384/2016 26 8,800,000 CAPITAL PROPFUND PTY LTD PANGBOURNE PROP LTD JET PARK~621~00000 JET PARK EKURHULENI - BOKSBURG T1583/2016 27 8,750,000 FORGE ROAD 107 INV PTY LTD NILFISK-ADVANCE PTY LTD SPARTAN~140~00000 SPARTAN EKURHULENI - KEMPTON PARK T2127/2016 28 7,400,000 BOTHA LEGACY TRUST JANSEN CHRISTIAN CORNELIUS MEYERSDAL NATURE MEYERSDAL NATURE EKURHULENI - ALBERTON T1614/2016 ESTATE~359~00000 ESTATE 29 6,600,000 MHN PROP TRUST SCOULELIS DION DONOVAN BEDFORDVIEW~2602~00000 BEDFORDVIEW EKURHULENI - BEDFORDVIEW T2628/2016 30 6,378,147 WORLD COURIER SOUTH AFRICA TUTAM PROP 144 PTY LTD KEMPTON PARK~2759~00001 KEMPTON PARK EKURHULENI - KEMPTON PARK T2414/2016 PTY LTD CENTRAL 31 5,800,000 HAPPY SUN PROP CC NIEKERK GARY ALLEN VAN BREDELL AH~170~00000 BREDELL AH EKURHULENI - BENONI T10387/2016 32 5,250,000 PATSAM PROP 1 PTY LTD DAECO CC BEYERS PARK~1190~00000 WESTWOOD SH EKURHULENI - BOKSBURG T53416/2015 33 5,200,000 REHOBOTH TRADING PTY LTD JARTA ROSEN PROP PTY LTD IR~31~00434 EKURHULENI - BENONI T10276/2016

Directors for these companies are:

Rank Buyer First Name Surname

1 CAPITAL PROPFUND 2 PTY LTD ANDREW TEIXEIRA ABRAHAM ALBERTUS BORNMAN BARRY LESTER STUHLER BERNITA SCHAPER 2 MAIN STREET 1310 PTY LTD ASOGAN BALACHANDREN PILLAY MORESTAT CORPORATE SERVICES SHAUN ZAGNOEV JOANNE CLARE SINEY-GOULD GARTH NORMAN TOWELL DION PETER DE GRAAFF RICHARD FIENBERG TIMOTHY SOUTER GRANT MICHAEL PATTISON

52 3 INVESTEC PROP FUND LTD KHUMO LESEGO SHUENYANE SAMUEL RONALD LEON LUIGI LUCA MARIA GIURICICH NICHOLAS PETER RILEY MORESTAT CORPORATE SERVICES SAM HACKNER ANDREW ROBERT WOOLER SULIMAN MAHOMED MOSES MODIDIMA NGOASHENG GRAHAM ROBERT ROSENTHAL CONSTANCE MATSHAGA MASHABA 4 LISALINE PTY LTD IAIN ROBERTSON DOUGLAS DYLAN ARTHUR BARRY MCNAMARA 5 EQUITES PROP FUND LTD NAZEEM KHAN GIANCARLO LANFRANCHI RUTH ELEANOR BENJAMIN-SWALES KEVIN DREYER BRAM GOOSSENS ANDREA TAVERNA TURISAN PHILIP LEON CAMPHER GERHARD RIAAN GOUS 6 CAPITAL PROPFUND PTY LTD BERNITA SCHAPER ANDREW TEIXEIRA WILLEM JAKOB SERFONTEIN ABRAHAM ALBERTUS BORNMAN MARK WALTER STEVENS 7 VALUMAX MIDRAND PTY LTD KOOS TOEBES ROCCO HUMAN DE KOCK PHILLIP SAUNDERS TEDDY FREDERICK GREAVER HENDRIK FRANCOIS BEKKER 8 GROWTHPOINT PROP LTD LUDWIG SCHLETTER ROLAND ARNO KRABBENHOFT JOHN CARY HAYWARD HUGH SIDNEY HERMAN GERALD VOLKEL ESTIENNE KONRAD DE KLERK PETER HENRY FECHTER HERMAN SAMTSEU PHILIP MASHABA MZOLISI GOODMAN DILIZA SEBENZILE PATRICK MNGCONKOLA NOMPUMELELO NKABINDE BONGEKILE PATRICIA LYNETTE ANN STEVENS FREDERICK JOHANNES VISSER JOACOBUS FRANCOIS MARAIS RAGAVAN MOONSAMY 9 BLACK STOCK INV PTY LTD BRIGITTA BERTHA PHILLIP 11 AFGRI POULTRY PTY LTD BUTANA MANGALISO KHOZA LUSANDA KALI KHOLOFELO SEKEPE MAPONYA BUSISIWE ABIGAIL MABUZA TOBIAS ROZIER VAN BLERK RIVASHA MAHARAJ THABISO MOSHIKARA 13 BOULDER PROP INV PTY LTD JAN JOHANNES BRONKHORST HEINZ RYNNERS 14 QUALITY PARK PTY LTD ROY MEAKER ROY J MEAKER LEON GILBERT FREESE LLOYD IVOR FRANCIS MEAKER SHAWN MEAKER 18 BOOYSENS ROAD PROP PTY LTD LOUIS WEINBERG PHILLIP NORMAN ABELHEIM CHARLEY RAPHAEL BOUZAGLOU 19 EASTMOOR PROPS PTY LTD MARCO DIAS RUI PAULO DIAS 20 PHUM RECRUIT SOLUTIONS CC VERNON PILLAY PATRICK WILLIAM FROUD JACO JUAN RALL 23 ALPHACHRON INV PTY LTD MORESTAT CORPORATE SERVICES MCIMBI WILLIAM MXHONYWA NESHANE PRAKASH CHETTY RESHA 24 PROVINCIAL GOVERNMENT OF GAUTENG 25 CAPITAL PROFUND PTY LTD BERNITA SCHAPER ANDREW TEIXEIRA 53 25 CAPITAL PROFUND PTY LTD ABRAHAM ALBERTUS BORNMAN MARK WALTER STEVENS WILLEM JAKOB SERFONTEIN 27 FORGE ROAD 107 INV PTY LTD MICHAEL LABREY STACEY 28 BOTHA LEGACY TRUST 29 MHN PROP TRUST 30 WORLD COURIER SOUTH AFRICA PTY LTD STEPHEN LAWRENCE CLIFFORD JOHN CARL BUTLER GREGORY STEPHEN ANSPACH NICHOLAS DAVID RICHARDSON 31 HAPPY SUN PROP CC WENYING YE 32 PATSAM PROP 1 PTY LTD GLEN BARRY TROUCHET JOHN MOORE 33 REHOBOTH TRADING PTY LTD ANNEMARIE REITSMA ANDRIES HENDRIK REITSMA

54 The top commercial mortgages greater than R5 million and limited to 50 in February 2016 are:

Rank Bond Amount Buyer Bank Erf Key Suburb Node First Transaction at

1 270,000,000 ZOTEC DEVELOPMENTS PTY LTD STANDARD POMONA~3636~00000 BRENTWOOD PARK AH EKURHULENI - BENONI 201410 2 250,000,000 LISALINE PTY LTD FIRSTRAND IR~83~00772 EKURHULENI - BOKSBURG 201602 3 138,000,000 GAUTENG HUB PTY LTD ABSA CHLOORKOP~5522~00000 EKURHULENI - KEMPTON PARK 201602 4 65,000,000 VALUMAX MIDRAND PTY LTD NEDBANK JR~410~00207 EKURHULENI - KEMPTON PARK 201602 5 23,000,000 WINDFALL 110 PROP PTY LTD INVESTEC BOKSBURG~1773~00000 EKURHULENI - BOKSBURG 201404 6 21,420,000 NEW HEIGHTS 390 PTY LTD INVESTEC SOUTH INDUSTRIES EAST EKURHULENI - BEDFORDVIEW 201602 GERMISTON~1322~00001 SOUTH INDUSTRIES EAST EKURHULENI - BEDFORDVIEW 201602 GERMISTON~1322~00002 7 15,000,000 K L DEVELOPMENT PTY LTD NEDBANK POMONA~3643~00000 EKURHULENI - BENONI 201602 8 13,000,000 MARWOL PTY LTD STANDARD TUNNEY~292~00000 TUNNEY EKURHULENI - BOKSBURG 201602 9 12,500,000 ALPHACHRON INV PTY LTD FIRSTRAND ELSBURG~581~00000 ELSBURG EKURHULENI - GERMISTON 201602 ELSBURG~582~00000 ELSBURG EKURHULENI - GERMISTON 201602 10 11,000,000 FABA PROP PTY LTD NEDBANK BOKSBURG~1772~00000 EKURHULENI - BOKSBURG 201406 11 10,000,000 QUALITY PARK PTY LTD NEDBANK ALRODE~23~00002 ALRODE EKURHULENI - ALBERTON 201602 ALRODE~695~00000 ALRODE EKURHULENI - ALBERTON 201602 ALRODE~695~00001 ALRODE EKURHULENI - ALBERTON 201602 12 6,125,000 FORGE ROAD 107 INV PTY LTD NEDBANK SPARTAN~140~00000 SPARTAN EKURHULENI - KEMPTON PARK 201602 13 6,000,000 G C PROP DEVELOPERS CC OTHER BANK RAVENSWOOD~887~00000 RAVENSWOOD EKURHULENI - BOKSBURG 201602 MORE PROPERTIES ON BOND

Directors for these companies are:

Rank Buyer First Name Surname

1 ZOTEC DEVELOPMENTS PTY LTD ANTON CROUSE 2 LISALINE PTY LTD IAIN ROBERTSON DOUGLAS DYLAN ARTHUR BARRY MCNAMARA 3 GAUTENG HUB PTY LTD 4 VALUMAX MIDRAND PTY LTD KOOS TOEBES ROCCO HUMAN DE KOCK PHILLIP SAUNDERS TEDDY FREDERICK GREAVER HENDRIK FRANCOIS BEKKER 5 WINDFALL 110 PROP PTY LTD MORESTAT CORPORATE SERVICES JONATHAN GARY LEVITT MILTON SELWYN WEINBERG 6 NEW HEIGHTS 390 PTY LTD MORESTAT CORPORATE SERVICES IAIN CRAIG BENNIE 7 K L DEVELOPMENT PTY LTD JOHANNES STEFANUS KOTZE COERT GROBBELAAR 8 MARWOL PTY LTD 9 ALPHACHRON INV PTY LTD MORESTAT CORPORATE SERVICES NESHANE PRAKASH CHETTY RESHA MCIMBI WILLIAM MXHONYWA 10 FABA PROP PTY LTD ARSHAAD ISMAIL ABDOOLA ISMAIL BASHEER AHMED ISMAIL 11 QUALITY PARK PTY LTD ROY MEAKER LLOYD IVOR FRANCIS MEAKER LEON GILBERT FREESE ROY J MEAKER SHAWN MEAKER 12 FORGE ROAD 107 INV PTY LTD MICHAEL LABREY STACEY 13 G C PROP DEVELOPERS CC GEORGE PIETER VAN BREDA

55 2.1.5 Ethekwini Municipality

The transactional activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 DURBAN - NORTH 3,602 41.8% 2,885 33.9% 3,615 41.6% 1,585 54.1% 4,956 46.2% 114 19.2% DURBAN - CENTRAL 2,367 27.5% 2,309 27.2% 1,813 20.9% 635 21.7% 2,320 21.6% 157 26.4% DURBAN - SOUTH 910 10.5% 1,750 20.6% 1,264 14.5% 358 12.2% 1,232 11.5% 178 30.0% DURBAN - WEST 1,704 19.8% 1,560 18.3% 2,002 23.0% 350 12.0% 2,211 20.6% 145 24.4% NOT ALLOCATED 40 0.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Total 8,622 8,504 8,694 2,928 10,718 593

The bond activity (R Million) is as follows:

Node 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 DURBAN - NORTH 2,802 41.3% 2,439 33.6% 2,865 34.9% 1,133 61.8% 3,171 36.4% 102 41.1% DURBAN - CENTRAL 1,434 21.1% 1,229 16.9% 1,891 23.0% 456 24.9% 2,218 25.5% 85 34.0% DURBAN - WEST 1,324 19.5% 2,233 30.7% 2,285 27.8% 158 8.6% 2,170 24.9% 62 24.9% DURBAN - SOUTH 1,232 18.1% 1,368 18.8% 1,170 14.2% 86 4.7% 1,148 13.2% 0 0.0% Total 6,792 7,270 8,211 1,832 8,707 248

56 The Market Share is as follows:

57 58 The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node Title Deed No

1 100,000,000 RIVERTOWN CENTRAL PROPRIETARY LIMITED MARSHALLS GROUP LTD DURBAN~11168~00000 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11169~00000 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11170~00000 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11170~00001 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11171~00000 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11171~00001 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11172~00000 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11172~00001 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11173~00000 SOUTH BEACH DURBAN - CENTRAL T2351/2016 DURBAN~11173~00001 SOUTH BEACH DURBAN - CENTRAL T2351/2016 MORE PROPERTIES ON TITLE DEED 2 97,198,251 INVESTEC PROPERTY FUND LIMITED TRUZEN 59 TRUST-TRUSTEES WENTWORTH~236~00007 JACOBS DURBAN - SOUTH T1588/2016 WENTWORTH~236~00040 JACOBS DURBAN - SOUTH T1588/2016 WENTWORTH~237~00000 JACOBS DURBAN - SOUTH T1588/2016 3 66,872,074 CAPITAL PROPFUND PROPRIETARY LIMITED PANGBOURNE PROPERTIES LTD ISIPINGO~2258~00000 PROSPECTON DURBAN - SOUTH T1669/2016 INDUSTRIAL 4 44,840,000 UNITED AFRICAN MARINE INSURANCE MICAWBER 309 PTY LTD LA LUCIA~2831~00000 LA LUCIA DURBAN - NORTH ST4015/2016 BROKERS PROPRIETARY LIMITED 5 26,250,000 JESGRO TRADING SIX PROPRIETARY LIMITED MATRISYS PROPRIETARY LIMITED ELANGENI~12~00000 ELANGENI DURBAN - WEST T2016/2016 6 22,000,000 DEEP C PROPERTIES PROPRIETARY LIMITED CAPITAL PROPFUND 2 PROPRIETARY LIMITED PINETOWN~2831~00006 ALEXANDER PARK DURBAN - WEST T2562/2016 7 20,148,045 REDEFINE PROPERTIES LIMITED FIRSTRAND BANK LIMITED BEREA WEST~476~00000 BEREA WEST DURBAN - WEST T2046/2016 8 17,214,000 VEXMA PROPERTIES 14 CC PINEFIELD PROP PTY LTD PINETOWN~2829~00005 ALEXANDER PARK DURBAN - WEST T2901/2016 9 16,250,000 SUMMER IVINS CONSULTING PROPRIETARY COTTON BLOSSOM TRADING PROPRIETARY PINETOWN~7559~00000 WESTMEAD DURBAN - WEST T3129/2016 LIMITED LIMITED 10 15,000,000 NURIZONE INVESTMENTS PROPRIETARY BUSA PROPERTY PTY LTD FT~939~00061 ST HELIER EXT 1 DURBAN - WEST T2465/2016 LIMITED 11 14,000,000 WEST DUNES PROPERTIES 260 PROPRIETARY STEELCITY MERCHANTS (PROPRIATARY) ISIPINGO~526~00000 ISIPINGO RAIL DURBAN - SOUTH T1358/2016 LIMITED LIMITED 12 14,000,000 OLD ISTUDY 4 PROPRIETARY LIMITED DURBAN PROGRESSIVE JEWISH BRICKFIELD~508~00001 MUSGRAVE DURBAN - CENTRAL T988/2016 CONGREGATION BRICKFIELD~508~00004 MUSGRAVE DURBAN - CENTRAL T988/2016 BRICKFIELD~509~00000 MUSGRAVE DURBAN - CENTRAL T988/2016 13 13,468,630 MATRISYS PROPRIETARY LIMITED CROSSLEY HOLDINGS PTY LTD ELANGENI~12~00000 ELANGENI DURBAN - WEST T2015/2016 14 11,970,000 HLELO PROPERTIES PROPRIETARY LIMITED NATSAL INV CC DURBAN~10004~00157 DURBAN CENTRAL DURBAN - CENTRAL T3321/2016 DURBAN~10672~00010 DURBAN CENTRAL DURBAN - CENTRAL T3321/2016 15 11,210,000 UNITED AFRICAN MARINE INSURANCE BELLE VUE LA RIDGE PTY LTD LA LUCIA~2831~00000 LA LUCIA DURBAN - NORTH ST4016/2016 BROKERS PROPRIETARY LIMITED 16 11,000,000 THE FALCON PROPERTIES FAMILY TRUST PAPE WILLIAM JOHN DURBAN~2135~00035 ESSENWOOD DURBAN - CENTRAL T2163/2016 DURBAN~2135~00036 ESSENWOOD DURBAN - CENTRAL T2163/2016 17 10,800,000 MIDDLETON FAMILY TRUST JASMEENA TRUST-TRUSTEES RIVERHORSE VALLEY~1~00140 RIVERHORSE VALLEY DURBAN - NORTH ST882/2016 18 9,000,000 RIVERDALE PROPERTIES SUNSET TRUST-TRUSTEES MOUNT EDGECOMBE~2185~00000 MOUNT EDGECOMBE DURBAN - NORTH T2508/2016 19 8,600,000 EBRAHIM YUSUF SEEDAT FAMILY TRUST MUDALY POOVANTHIRAN MARK UMHLANGA ROCKS~2408~00105 IZINGA DURBAN - NORTH T1192/2016 20 7,500,000 NUMBI INVESTMENTS PROPRIETARY LIMITED S B S ESTATES PTY LTD PINESIDE~3~00002 PINESIDE DURBAN - WEST T2904/2016 21 7,300,000 SHREE PROPERTY HOLDINGS PROPRIETARY THE P & A SHREE FAMILY TRUST DURBAN~8451~00005 CONGELLA DURBAN - CENTRAL T1807/2016 LIMITED 22 7,250,000 INGODWEE TRUST MALTON ELIZABETH KATHLEEN BLUFF~81~00043 OCEAN VIEW DURBAN - CENTRAL T2914/2016 23 6,840,000 SINGH AND SONS PROPERTY HOLDINGS JAZZ SPIRIT 1214 CC PINETOWN~5151~00000 WESTMEAD DURBAN - WEST T3008/2016 PROPRIETARY LIMITED 24 6,612,000 KDP AGENCIES CC AERPROP CC DURBAN NORTH~3473~00006 RED HILL DURBAN - NORTH T2536/2016 25 6,000,000 TURNERS HOUSE PROPRIETARY LIMITED BURGER PIETER ZACHARIAS UMHLANGA ROCKS~3113~00003 UMHLANGA ROCKS DURBAN - NORTH ST1113/2016 26 6,000,000 LINTOK INVESTMENTS PROPRIETARY LIMITED SCOTT STUART CRAIG UMHLANGA ROCKS~1730~00000 HERRWOOD PARK DURBAN - NORTH T2522/2016 27 5,700,000 BLUE RUBY FAMILY TRUST DYNAMIC TRUST-TRUSTEES UMHLANGA ROCKS~2540~00004 UMHLANGA RIDGE NEW DURBAN - NORTH ST3710/2016 TOWN CENTRE 28 5,130,000 PAN AFRICAN HOLDINGS PROPRIETARY LIMITED BEETROUTE INVESTMENTS CC LA LUCIA~2772~00024 LA LUCIA DURBAN - NORTH ST890/2016 29 5,130,000 FRYHEN CC LAWPAC PROPERTIES CC DURBAN~2128~00019 DURBAN - CENTRAL T3825/2016

Directors of these companies are:

Rank Buyer First Name Surname

1 MORE PROPERTIES ON TITLE DEED RIVERTOWN CENTRAL PROPRIETARY LIMITED JONATHAN SIMON LIEBMANN DAVID GRANT SHARP DARREN LANCE SHUR ERIC DAVID HERR 2 INVESTEC PROPERTY FUND LIMITED CONSTANCE MATSHAGA MASHABA LUIGI LUCA MARIA GIURICICH SAMUEL RONALD LEON NICHOLAS PETER RILEY MORESTAT CORPORATE SERVICES ANDREW ROBERT WOOLER SAM HACKNER SULIMAN MAHOMED MOSES MODIDIMA NGOASHENG GRAHAM ROBERT ROSENTHAL KHUMO LESEGO SHUENYANE 59 3 CAPITAL PROPFUND PROPRIETARY LIMITED WILLEM JAKOB SERFONTEIN MARK WALTER STEVENS ABRAHAM ALBERTUS BORNMAN BERNITA SCHAPER ANDREW TEIXEIRA 4 UNITED AFRICAN MARINE INSURANCE BROKERS PROPRIETARY Nicohlan Singh LIMITED NIEMESH SINGH VANESSA SINGH 5 JESGRO TRADING SIX PROPRIETARY LIMITED JOHN HENRY SCHRODER ADRIAAN VERHAGEN 6 DEEP C PROPERTIES PROPRIETARY LIMITED GUY PETER LEVENE ROBERT MARSHALL ALDERDICE JOH LOMAS 7 REDEFINE PROPERTIES LIMITED PHUMZILE LANGENI BERNARD NACKAN DAVID HUW RICE ANDREW JOSEPH KONIG MARC WAINER HARISHKUMAR KANTILAL MEHTA MICHAEL JOHN RUTTLE BRONWYN BAKER MICHAEL JOHN WATTERS DAVID ALAN NATHAN GUNTER ZEND STEFFENS LEON CHRISTIAAN KOK NOMALIZO BERYL LANGA-ROYDS MARIUS BARKHUYSEN 8 VEXMA PROPERTIES 14 CC NEIL SOLOMON DEBORAH ANGELINE SOLOMON 9 SUMMER IVINS CONSULTING PROPRIETARY LIMITED DEBORAH ANNE WALKER CYRIL FRANCIS SEAN CARLISLE WALKER 10 NURIZONE INVESTMENTS PROPRIETARY LIMITED SEAN CHARLES MCCARTHY BRUCE WINSHIP 11 WEST DUNES PROPERTIES 260 PROPRIETARY LIMITED SHAUKAT ALLI MOOSA 12 OLD ISTUDY 4 PROPRIETARY LIMITED MELVIN MUNSAMI LOUISE MICHELLE NAIR 13 MATRISYS PROPRIETARY LIMITED 14 HLELO PROPERTIES PROPRIETARY LIMITED THOKOZILE CHRISTINE ZONDO 16 THE FALCON PROPERTIES FAMILY TRUST 17 MIDDLETON FAMILY TRUST 18 RIVERDALE PROPERTIES 19 EBRAHIM YUSUF SEEDAT FAMILY TRUST 20 NUMBI INVESTMENTS PROPRIETARY LIMITED ROY MICHAEL CANNON JOHAN LEON RAUBENHEIMER 21 SHREE PROPERTY HOLDINGS PROPRIETARY LIMITED PRAN SHREE ANNISHA SHREE 22 INGODWEE TRUST 23 SINGH AND SONS PROPERTY HOLDINGS PROPRIETARY LIMITED KUSHLAWATHIE SINGH BRIDGNUND SINGH 24 KDP AGENCIES CC REPRESENTED BY: DENNIS DENNIS RICHARD RICHARD POTGIETER - POTGIETER FAMILY TRUST TRUSTEE - IT2171/99 25 TURNERS HOUSE PROPRIETARY LIMITED IAN DAVID LOSINSKY CONRAD JOHN COCHRANE-MURRAY 26 LINTOK INVESTMENTS PROPRIETARY LIMITED LINDA MIYA MAHOMED ESSA SACOOR 27 BLUE RUBY FAMILY TRUST 28 PAN AFRICAN HOLDINGS PROPRIETARY LIMITED ROSHAN MORAR 29 FRYHEN CC AKBAR ABOOBAKER

The top commercial mortgages greater than R5 million and limited to 50 in February 2016 are:

Rank Bond Amount Buyer Bank Erf Key Suburb Node First Transaction at

1 75,000,000 RIVERTOWN CENTRAL PROPRIETARY NEDBANK DURBAN~11168~00000 SOUTH BEACH DURBAN - CENTRAL 201602 LIMITED DURBAN~11169~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11170~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11170~00001 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11171~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11171~00001 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11172~00000 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11172~00001 SOUTH BEACH DURBAN - CENTRAL 201602 DURBAN~11173~00000 SOUTH BEACH DURBAN - CENTRAL 201602 60 1 75,000,000 RIVERTOWN CENTRAL PROPRIETARY NEDBANK DURBAN~11173~00001 SOUTH BEACH DURBAN - CENTRAL 201602 LIMITED MORE PROPERTIES ON TITLE DEED 2 70,000,000 UNITED AFRICAN MARINE INSURANCE STANDARD LA LUCIA~2831~00000 LA LUCIA DURBAN - NORTH 201602 BROKERS PROPRIETARY LIMITED 3 20,000,000 RICHTOL PTY LTD INVESTEC UMHLANGA ROCKS~541~00001 UMHLANGA ROCKS DURBAN - NORTH 201602 4 14,800,000 DEEP C PROPERTIES PROPRIETARY LIMITED NEDBANK PINETOWN~2831~00006 ALEXANDER PARK DURBAN - WEST 201602 5 14,000,000 FREEWHEEL TRADE & INVEST 28 INVESTEC ATHOLL HEIGHTS~160~00000 ATHOLL HEIGHTS DURBAN - WEST 201602 PROPRIETARY LIMITED 6 13,653,900 VEXMA PROPERTIES 14 CC ABSA PINETOWN~2829~00005 ALEXANDER PARK DURBAN - WEST 201602 7 12,000,000 ROHILL PROPERTIES PTY LTD NEDBANK MOUNT EDGECOMBE~251~00003 MOUNT EDGECOMBE DURBAN - NORTH 201602 8 11,750,000 SUMMER IVINS CONSULTING PROPRIETARY NEDBANK PINETOWN~7559~00000 WESTMEAD DURBAN - WEST 201602 LIMITED 9 9,500,000 MURHUR INV CC INVESTEC DURBAN~7878~00005 GLENWOOD DURBAN - CENTRAL 201602 DURBAN~7878~00024 GLENWOOD DURBAN - CENTRAL 201602 MURHUR INVESTMENTS CC INVESTEC DURBAN~7878~00004 GLENWOOD DURBAN - CENTRAL 201602 DURBAN~7878~00006 GLENWOOD DURBAN - CENTRAL 201602 DURBAN~7878~00018 GLENWOOD DURBAN - CENTRAL 201602 10 7,600,000 BEV CARE INV CC ABSA PINETOWN~2419~00000 PINETOWN CENTRAL DURBAN - WEST 201602

Directors of these companies are:

Rank Buyer First Name Surname

1 MORE PROPERTIES ON TITLE DEED RIVERTOWN CENTRAL PROPRIETARY LIMITED ERIC DAVID HERR JONATHAN SIMON LIEBMANN DARREN LANCE SHUR DAVID GRANT SHARP 2 UNITED AFRICAN MARINE INSURANCE BROKERS PROPRIETARY Nicohlan Singh LIMITED VANESSA SINGH NIEMESH SINGH 3 RICHTOL PTY LTD JOHANNES HENDRIK WILLEMSE HELEN ANTONETTE WALTERS NICO WILLEMSE 4 DEEP C PROPERTIES PROPRIETARY LIMITED GUY PETER LEVENE ROBERT MARSHALL ALDERDICE JOH LOMAS 5 FREEWHEEL TRADE & INVEST 28 PROPRIETARY LIMITED JOHAN LEON RAUBENHEIMER WILLIAM MARK SUTHERLAND 6 VEXMA PROPERTIES 14 CC DEBORAH ANGELINE SOLOMON NEIL SOLOMON 7 ROHILL PROPERTIES PTY LTD DOUGLAS GARTH ROSS JOHN STUART ROSS 8 SUMMER IVINS CONSULTING PROPRIETARY LIMITED SEAN CARLISLE WALKER DEBORAH ANNE WALKER CYRIL FRANCIS 9 MURHUR INV CC EDWARD JOSEPH CARMODY MORRIS PARKER FULLER MORESTAT CORPORATE SERVICES MURHUR INVESTMENTS CC EDWARD JOSEPH CARMODY MORRIS PARKER FULLER MORESTAT CORPORATE SERVICES 10 BEV CARE INV CC ALEXANDER MEMORY DUBE

61 3 OWNER SEGMENT ANALYSIS

3.1 Listed Companies - Rand Millions

Listed Company 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 INVESTEC PROPERTY FUND 1,880 9.4% 1,667 6.4% 1,722 8.3% 4,250 45.1% 5,882 20.6% 1,157 24.9% REDEFINE PROPERTIES 1,533 7.6% 2,867 11.1% 6,446 30.9% 1,784 19.0% 7,608 26.6% 1,603 34.5% CAPITAL PROPERTY FUND 0 0.0% 7,352 28.4% 4,380 21.0% 1,672 17.8% 5,961 20.8% 1,532 33.0% ACCELERATE 0 0.0% 5,163 20.0% 352 1.7% 855 9.1% 1,207 4.2% 18 0.4% DELTA PROPERTY FUND 3,075 15.3% 1,856 7.2% 492 2.4% 616 6.5% 1,109 3.9% 103 2.2% VUNANI PROPERTY FUND 0 0.0% 879 3.4% 0 0.0% 105 1.1% 218 0.8% 105 2.3% GROWTHPOINT PROPERTY 727 3.6% 1,501 5.8% 617 3.0% 50 0.5% 628 2.2% 50 1.1% ARROWHEAD RESIDENTIAL 0 0.0% 238 0.9% 408 2.0% 38 0.4% 446 1.6% 38 0.8% OCTODEC INVESTMENTS 0 0.0% 0 0.0% 0 0.0% 32 0.3% 0 0.0% 32 0.7% SAFARI INVESTMENTS (RSA) 0 0.0% 0 0.0% 0 0.0% 10 0.1% 0 0.0% 10 0.2% SA CORPORATE REAL 0 0.0% 0 0.0% 2,489 11.9% 0 0.0% 2,467 8.6% 0 0.0% ESTATE FUND VUKILE PROPERTY FUND 1,204 6.0% 0 0.0% 946 4.5% 0 0.0% 946 3.3% 0 0.0% DIPULA INCOME FUND 1,096 5.5% 247 1.0% 594 2.9% 0 0.0% 450 1.6% 0 0.0% FORTRESS INCOME FUND 757 3.8% 940 3.6% 494 2.4% 0 0.0% 0 0.0% 0 0.0% FAIRVEST PROPERTY 0 0.0% 232 0.9% 402 1.9% 0 0.0% 402 1.4% 0 0.0% HOLDINGS TOWER 767 3.8% 737 2.9% 384 1.8% 0 0.0% 384 1.3% 0 0.0% INGENUITY PROPERTY 939 4.7% 239 0.9% 293 1.4% 0 0.0% 218 0.8% 0 0.0% INVESTMENT TEXTON PROPERTY FUND 0 0.0% 0 0.0% 193 0.9% 0 0.0% 193 0.7% 0 0.0% REBOSIS PROPERTY FUND 1,611 8.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% ASCENSION PROP 1,385 6.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% ANNUITY PROPERTIES 1,048 5.2% 182 0.7% 0 0.0% 0 0.0% 0 0.0% 0 0.0% ARROWHEAD PROPERTIES 647 3.2% 751 2.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% VIVIDEND INCOME FUND 638 3.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% HOSPITALITY FUND 443 2.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% OTHER 2,340 11.6% 1,009 3.9% 624 3.0% 0 0.0% 488 1.7% 0 0.0% Total 20,090 25,860 20,836 9,414 28,607 4,648

62 The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 973,911,808 REDEFINE PROP LTD FOUNTAINHEAD PROP TRUST CAPE TOWN~53770~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS SCHEME CAPE TOWN~54756~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 2 911,462,954 CAPITAL PROPFUND 2 PTY LTD PANGBOURNE PROP LTD ISANDO~519~00000 ISANDO EKURHULENI - BOKSBURG 3 773,023,396 INVESTEC PROP FUND LTD ZEVENWACHT VILLAGE CENTRE KUILS RIVER~21425~00000 VREDELUST CAPE TOWN - EAST PROP TRUST 4 473,248,735 REDEFINE PROP LTD HYPROP INV LTD GREENSTONE PARK~11~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE GREENSTONE PARK~13~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE GREENSTONE PARK~15~00000 GREENSTONE HILL JOHANNESBURG - LINBRO PARK/GREENSTONE 5 410,235,243 INVESTEC PROP FUND LTD TRUZEN 102 TRUST HENVILLE~117~00000 EKURHULENI - BOKSBURG HENVILLE~118~00000 EKURHULENI - BOKSBURG 6 121,121,858 CAPITAL PROPFUND 3 PTY LTD PANGBOURNE PROPERTIES LTD BLOEMFONTEIN~22100~00001 FLEURDAL 7 105,387,714 TEXTON PROP FUND LTD MIDNIGHT STORM INV 187 PTY LTD EDENBURG PTA~286~00000 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA 8 97,198,251 INVESTEC PROPERTY FUND TRUZEN 59 TRUST-TRUSTEES WENTWORTH~236~00007 JACOBS DURBAN - SOUTH LIMITED WENTWORTH~236~00040 JACOBS DURBAN - SOUTH WENTWORTH~237~00000 JACOBS DURBAN - SOUTH 9 96,500,000 CAPITAL PROPFUND PTY LTD PANHOLD PTY LTD JET PARK~500~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~501~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~502~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~503~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~516~00000 JET PARK EKURHULENI - BOKSBURG JET PARK~609~00000 JET PARK EKURHULENI - BOKSBURG 10 92,292,475 CAPITAL PROPFUND 2 PTY LTD IFOUR PROP THREE PTY LTD NOORDWYK~1624~00002 NOORDWYK JOHANNESBURG - MIDRAND/KYALAMI

Directors for these companies were:

Rank Buyer First Name Surname

1 REDEFINE PROP LTD PHUMZILE LANGENI BERNARD NACKAN BRONWYN BAKER MARC WAINER MICHAEL JOHN WATTERS DAVID ALAN NATHAN ANDREW JOSEPH KONIG LEON CHRISTIAAN KOK MICHAEL JOHN RUTTLE DAVID HUW RICE GUNTER ZEND STEFFENS HARISHKUMAR KANTILAL MEHTA NOMALIZO BERYL LANGA-ROYDS MARIUS BARKHUYSEN 2 CAPITAL PROPFUND 2 PTY LTD BARRY LESTER STUHLER BERNITA SCHAPER ANDREW TEIXEIRA ABRAHAM ALBERTUS BORNMAN 3 INVESTEC PROP FUND LTD SULIMAN MAHOMED SAMUEL RONALD LEON MORESTAT CORPORATE SERVICES SAM HACKNER GRAHAM ROBERT ROSENTHAL MOSES MODIDIMA NGOASHENG ANDREW ROBERT WOOLER LUIGI LUCA MARIA GIURICICH NICHOLAS PETER RILEY CONSTANCE MATSHAGA MASHABA KHUMO LESEGO SHUENYANE 6 CAPITAL PROPFUND 3 PTY LTD BERNITA SCHAPER ANDREW TEIXEIRA MARK WALTER STEVENS 7 TEXTON PROP FUND LTD MATHYS JOHANNES VAN HEERDEN KYANSAMBO NTOMBI VUNDLA NOSIPHIWO VUYOWETHU BALFOUR JACOB ANIEL WIESE PORTIA-MORWESI TAU-SEKATI JOHN RUSSELL MACEY BRIGITTE DE BRUYN JOHN ALLASTAIR LEGH THANDUXOLO SELBY SISHUBA ANGELIQUE NORMA DU HECQUET DE RAUVILLE KENNETH RUSSELL COLLINS 63 7 TEXTON PROP FUND LTD NICHOLAS MORRIS 8 INVESTEC PROPERTY FUND LIMITED NICHOLAS PETER RILEY LUIGI LUCA MARIA GIURICICH ANDREW ROBERT WOOLER MOSES MODIDIMA NGOASHENG GRAHAM ROBERT ROSENTHAL SAM HACKNER MORESTAT CORPORATE SERVICES SAMUEL RONALD LEON SULIMAN MAHOMED KHUMO LESEGO SHUENYANE CONSTANCE MATSHAGA MASHABA 9 CAPITAL PROPFUND PTY LTD BERNITA SCHAPER WILLEM JAKOB SERFONTEIN MARK WALTER STEVENS ABRAHAM ALBERTUS BORNMAN ANDREW TEIXEIRA

64 3.2 Emerging Portfolio Companies - Rand Millions

Company Name 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 ORTHOTOUCH 578 22.6% 1,345 25.8% 0 0.0% 747 78.9% 747 36.1% 43 100.0% AMRICHPROP 2 PROPERTIES 0 0.0% 28 0.5% 0 0.0% 84 8.9% 84 4.1% 0 0.0% J POST INVESTMENTS 135 5.3% 23 0.4% 0 0.0% 52 5.5% 52 2.5% 0 0.0% NVEST PROPERTIES 39 1.5% 100 1.9% 0 0.0% 27 2.9% 27 1.3% 0 0.0% MILE INVESTMENTS 225 78 3.0% 34 0.7% 0 0.0% 24 2.5% 24 1.2% 0 0.0% IMBALI PROPS 21 0 0.0% 477 9.2% 0 0.0% 13 1.3% 13 0.6% 0 0.0% REDEFINE COMMERCIAL 337 13.2% 1,806 34.7% 348 22.5% 0 0.0% 348 16.8% 0 0.0% FPG HOLDINGS 0 0.0% 94 1.8% 269 17.4% 0 0.0% 269 13.0% 0 0.0% SILVER LEAF PROPERTY 407 15.9% 0 0.0% 285 18.4% 0 0.0% 140 6.8% 0 0.0% FUND MENLYN MAINE INVESTMENT 0 0.0% 107 2.1% 131 8.5% 0 0.0% 131 6.3% 0 0.0% HOLDINGS BELLA ROSA INVESTMENT 0 0.0% 0 0.0% 233 15.0% 0 0.0% 85 4.1% 0 0.0% HOLDINGS XTRASPACE PROPERTIES 73 2.8% 22 0.4% 66 4.2% 0 0.0% 66 3.2% 0 0.0% ZENDAI DEVELOPMENT 0 0.0% 588 11.3% 174 11.3% 0 0.0% 41 2.0% 0 0.0% (SOUTH AFRICA) AMPHORIA 20 0.8% 0 0.0% 34 2.2% 0 0.0% 34 1.7% 0 0.0% AMCO PROPERTIES 0 0.0% 17 0.3% 8 0.5% 0 0.0% 8 0.4% 0 0.0% ROELAND STREET 618 24.2% 130 2.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% INVESTMENTS ROBS INVESTMENT 49 1.9% 10 0.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% HOLDINGS STONEBRIDGE PROPERTIES 44 1.7% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% LAW'S STORES 31 1.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% EFSTRATIOU PROPERTIES 30 1.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% REIT INVESTMENTS 26 1.0% 416 8.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% JAY REDDY PROPERTY 21 0.8% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% INVESTMENTS OTHER 72 2.8% 8 0.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Total 2,555 5,205 1,548 947 2,068 43

The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 34,623,120 ORTHOTOUCH ZEPHAN PROPERTIES PTY LTD KROONSTAD~5250~00000 KROONSTAD CBD

2 34,623,120 ORTHOTOUCH ZEPHAN PROPERTIES PTY LTD KROONSTAD~184~00000 KROONSTAD CBD

KROONSTAD~185~00000 KROONSTAD CBD

KROONSTAD~186~00000 KROONSTAD CBD

3 8,307,719 ORTHOTOUCH ZEPHAN PROPERTIES PTY LTD WELKOM BLOEM~8974~00000 WELKOM CENTRAL

Directors for these companies were:

Rank Buyer First Name Surname

1 ORTHOTOUCH LTD CORNELIUS FOURIE MYBURGH NICOLAS GEORGIOU PANAGIOTIS KLEOVOULOU JOHANNES FREDERIK KLOPPER

65 3.3 Residential Development Companies - Rand Millions

Company Name 2013 2014 2015 2016 YTD Mar 2015 - Feb 2016 February 2016

BALWIN PROPERTIES 30 1.8% 188 11.1% 223 16.5% 34 82.2% 257 27.5% 34 82.2% UVEST HOUSING PORTFOLIO (RF) 0 0.0% 0 0.0% 69 5.1% 7 17.8% 76 8.2% 7 17.8% INTERNATIONAL HOUSING SOLUTIONS 0 0.0% 548 32.4% 292 21.6% 0 0.0% 162 17.4% 0 0.0% RESIDENTIAL PARTNERS 1 (RF) COSMOPOLITAN PROJECTS 59 3.5% 143 8.5% 215 15.9% 0 0.0% 43 4.6% 0 0.0% JOHANNESBURG PULSE URBAN PROPERTIES (RF) 161 9.6% 79 4.7% 142 10.5% 0 0.0% 142 15.2% 0 0.0% COSMOPOLITAN PROJECTS TSHWANE 0 0.0% 67 4.0% 74 5.5% 0 0.0% 0 0.0% 0 0.0% M AND T RESIDENTIAL FUND 0 0.0% 0 0.0% 63 4.7% 0 0.0% 63 6.8% 0 0.0% KARINO HOUSING PORTFOLIO (RF) 0 0.0% 17 1.0% 58 4.3% 0 0.0% 58 6.3% 0 0.0% WINDMILL PARK ESTATES 0 0.0% 30 1.8% 39 2.9% 0 0.0% 0 0.0% 0 0.0% MDV DEVELOPMENTS WITBANK 0 0.0% 0 0.0% 36 2.7% 0 0.0% 0 0.0% 0 0.0% SUMMERCON HOLDCO 63 3.7% 43 2.5% 35 2.6% 0 0.0% 35 3.7% 0 0.0% ZOTEC DEVELOPMENTS 132 7.8% 297 17.6% 33 2.4% 0 0.0% 33 3.5% 0 0.0% TAILSPIN TRADING 75 0 0.0% 0 0.0% 24 1.8% 0 0.0% 24 2.6% 0 0.0% TOWER SKY PROPERTIES 0 0.0% 0 0.0% 22 1.6% 0 0.0% 22 2.4% 0 0.0% BENGAVISTA 0 0.0% 0 0.0% 12 0.9% 0 0.0% 12 1.3% 0 0.0% AFHCO 0 0.0% 0 0.0% 0 0.0% 0 0.0% 5 0.6% 0 0.0% JIKA PROPERTIES 96 5.7% 37 2.2% 0 0.0% 0 0.0% 1 0.1% 0 0.0% JT GROUP DEVELOPMENTS 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% FIRST METRO HOUSING COMPANY 317 18.8% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% S A W H F S A RENTAL 3 TRUST 150 8.9% 66 3.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% CENTURY PROPERTY DEVELOPMENTS 108 6.4% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% EVERGREEN PROPERTY 92 5.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% INVESTMENTS CULVERWELL CONSERVATION 87 5.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% COMPANY STREET SPIRIT TRADING 175 53 3.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% SERVCON HOUSING SOLUTIONS 51 3.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% JORDI PROPERTIES 30 1.8% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% VESTISAT 28 1.7% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% JOZI HOUSING 0 0.0% 33 1.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% CENTRAL PROPERTY DEVELOPMENT 0 0.0% 31 1.8% 0 0.0% 0 0.0% 0 0.0% 0 0.0% JOHANNESBURG DOTCOM TRADING 849 0 0.0% 22 1.3% 0 0.0% 0 0.0% 0 0.0% 0 0.0% SAWHF S A RENTAL 4 TRUST 0 0.0% 15 0.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% OTHER 227 13.5% 74 4.4% 16 1.2% 0 0.0% 0 0.0% 0 0.0% Total 1,682 1,689 1,353 42 933 42

The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 51,300,000 BALWIN PROPERTIES ZIKHETHELE TRADE 4 PTY LTD BRYANSTON~5279~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA

BRYANSTON~5280~00000 PAULSHOF JOHANNESBURG - SUNNINGHILL/RIVONIA

2 7,420,500 UVEST HOUSING PORTFOLIO (RF) BUH REIN PROP DEVELOPMENTS PTY LTD BUHREIN~68~00000 BUH-REIN ESTATE CAPE TOWN - NORTHERN SUBURBS

Directors for these companies were:

Rank Buyer First Name Surname

1 BALWIN PROP PTY LTD RODNEY NORMAN GRAY STEPHEN VOLKER BROOKES JONATHAN WELTMAN ULRICH GSCHNAIDTNER MORESTAT CORPORATE SERVICES 2 UVEST HOUSING PORTFOLIO R F PTY JOHANNES PHILIPPUS VAN DER BERG LTD PIETER JACOBUS NIEMAN IAN ALFRED MASON

66 3.4 Investment Institutions - Rand Millions

Company Name 2013 2014 2015 Mar 2015 - Feb 2016 MOMENTUM PROPERTY 62 46.1% 0 0.0% 68 10.2% 0 0.0% INVESTMENTS SANLAM LIFE INSURANCE 31 22.8% 10 0.6% 211 31.5% 66 14.4% LIBERTY GROUP 29 21.7% 146 9.8% 32 4.7% 32 7.0% METROPOLITAN LIFE 13 9.3% 0 0.0% 0 0.0% 0 0.0% PARETO 0 0.0% 1,279 86.2% 250 37.3% 250 54.8% LIFE ASSURANCE 0 0.0% 49 3.3% 109 16.3% 109 23.9% COMPANY (SOUTH AFRICA) Total 134 1,483 670 456

The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

Directors for these companies were:

Rank Buyer First Name Surname

67 3.4.2 Banks - Rand Millions

Buyer Name 2013 2014 2015 Mar 2015 - Feb 2016 FIRSTRAND BANK LTD 898 39.0% 1,080 57.6% 453 97.5% 168 99.0% FINBOND MUTUAL BANK 24 1.0% 0 0.0% 5 1.1% 0 0.0% STANDARD BANK PROPS PTY 0 0.0% 0 0.0% 2 0.4% 0 0.0% LTD A B S A BANK LTD 736 32.0% 114 6.1% 2 0.4% 2 1.0% STANDARD BANK PROP 0 0.0% 0 0.0% 2 0.4% 0 0.0% LIBRARY GARDENS LTD FIRSTRAND BANK LIMITED 319 13.9% 0 0.0% 1 0.2% 0 0.0% STANDARD BANK PROPERTIES 0 0.0% 216 11.5% 0 0.0% 0 0.0% PROPRIETARY LIMITED STANDARD BANK OF SOUTH 16 0.7% 206 11.0% 0 0.0% 0 0.0% AFRICA LIMITED STANDARD BANK OF SOUTH 1 0.0% 154 8.2% 0 0.0% 0 0.0% AFRICA LTD NEDBANK LTD 109 4.7% 50 2.7% 0 0.0% 0 0.0% INVESTEC BANK LTD 0 0.0% 31 1.6% 0 0.0% 0 0.0% STANDARD BANK PROP PTY LTD 97 4.2% 18 0.9% 0 0.0% 0 0.0% NEDBANK LIMITED 95 4.1% 8 0.4% 0 0.0% 0 0.0% ABSA BANK LTD 6 0.3% 0 0.0% 0 0.0% 0 0.0% Total 2,301 1,876 465 169

The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

Directors for these companies were:

Rank Buyer First Name Surname

68 3.5 Mines - Rand Millions

Buyer Name 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 EVANDER GOLD MINING PTY LTD 0 0.0% 0 0.0% 33 3.7% 33 57.4% 66 7.9% 0 0.0% INSTITUTE OF MINE SIESMOLOGY 0 0.0% 0 0.0% 0 0.0% 17 28.8% 17 2.0% 17 67.5% PTY LTD EXXARO COAL PTY LTD 66 8.6% 27 2.4% 64 7.1% 8 13.8% 8 1.0% 8 32.5% XSTRATA SOUTH AFRICA PTY LTD 138 18.0% 827 72.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% TSHEDZA MINING RESOURCES PTY 67 8.8% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% LTD DUIKER MINING PTY LTD 58 7.6% 24 2.1% 0 0.0% 0 0.0% 0 0.0% 0 0.0% SISHEN IRON ORE COMPANY PTY 45 5.9% 0 0.0% 50 5.6% 0 0.0% 50 6.0% 0 0.0% LTD UNIVERSAL COAL DEV 1 PTY LTD 42 5.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% MSOBO COAL PTY LTD 38 5.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% RUSTENBURG PLATINUM MINES LTD 38 4.9% 0 0.0% 542 60.9% 0 0.0% 542 64.8% 0 0.0% SISHEN IRON ORE CO PTY LTD 38 4.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% RUSTENBURG CHROME MINE 26 3.4% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% HOLDINGS PTY LTD ZOETVELD MINING & PROSPECTING 22 2.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% PTY LTD EYETHU COAL PTY LTD 21 2.7% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% VAALBULT MINING CO PTY LTD 20 2.6% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% MALTON MINING & ENGINEERING 20 2.6% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% SERVICES PTY LTD PASCAL MINING SUPPLIES CC 19 2.4% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% GLENCORE OPERATIONS SOUTH 0 0.0% 85 7.5% 6 0.7% 0 0.0% 6 0.7% 0 0.0% AFRICA PTY LTD MUHANGA MINES PTY LTD 0 0.0% 46 4.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% INNOVATIVE MINING PRODUCTS PTY 0 0.0% 25 2.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% LTD ERGO MINING PTY LTD 0 0.0% 21 1.8% 0 0.0% 0 0.0% 0 0.0% 0 0.0% MAXGEM MINING CC 0 0.0% 16 1.4% 0 0.0% 0 0.0% 0 0.0% 0 0.0% COAL PTY LTD 0 0.0% 15 1.3% 0 0.0% 0 0.0% 0 0.0% 0 0.0% TSHIPI E NTLE MANGANESE MINING 0 0.0% 12 1.1% 0 0.0% 0 0.0% 0 0.0% 0 0.0% PTY LTD UMCEBO MINING PTY LTD 0 0.0% 11 1.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% BEDROCK MINING SUPPORT PTY 0 0.0% 11 0.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% LTD OPTIMUM COAL MINE PTY LTD 0 0.0% 6 0.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% KLIPDAM DIAMOND MINING CO LTD 0 0.0% 6 0.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% SABIE MINES PTY LTD 0 0.0% 6 0.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% TRONOX KZN SANDS PROPRIETARY 0 0.0% 0 0.0% 80 9.0% 0 0.0% 80 9.6% 0 0.0% LIMITED UNIVERSAL COAL DEV IV PTY LTD 0 0.0% 0 0.0% 48 5.4% 0 0.0% 0 0.0% 0 0.0% SENTULA MINING SERVICES PTY LTD 0 0.0% 0 0.0% 24 2.7% 0 0.0% 24 2.9% 0 0.0% MBALI COAL PTY LTD 0 0.0% 0 0.0% 12 1.3% 0 0.0% 12 1.4% 0 0.0% HLAGISA MINING PTY LTD 0 0.0% 0 0.0% 9 1.0% 0 0.0% 9 1.0% 0 0.0% BARPLATS MINES LTD 0 0.0% 0 0.0% 6 0.7% 0 0.0% 6 0.8% 0 0.0% BAKUBUNG MINERALS PTY LTD 0 0.0% 0 0.0% 6 0.6% 0 0.0% 6 0.7% 0 0.0% TAU LEKOA GOLD MINING CO PTY 0 0.0% 0 0.0% 6 0.6% 0 0.0% 6 0.7% 0 0.0% LTD A J MINING & INDUSTRIAL SUPPLIES 0 0.0% 0 0.0% 5 0.6% 0 0.0% 5 0.6% 0 0.0% CC OTHER 109 14.2% 2 0.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Total 766 1,141 891 58 836 25

The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 16,570,000 INSTITUTE OF MINE SIESMOLOGY PTY LTD EQUITANIA PTY LTD STELLENBOSCH RD~1088~00004 CAPE TOWN - SOMERSET WEST 2 7,980,000 EXXARO COAL PTY LTD MEDICLINIC PROP PTY LTD MARAPONG~175~00001 MARAPONG

Directors for these companies were:

Rank Buyer First Name Surname

1 INSTITUTE OF MINE SIESMOLOGY PTY ALEKSANDER JERZY MENDECKI LTD 69 1 INSTITUTE OF MINE SIESMOLOGY PTY RICHARD ANTHONY LYNCH LTD JOACHIM JACOBUS FRANKEN PETRUS 2 EXXARO COAL PTY LTD MXOLISI DONALD MBUYISA MGOJO MORESTAT CORPORATE SERVICES

70 3.6 Government - Rand Millions

The government spend in the different municipalities were:

Municipality Principal Town 2013 2014 2015 2016 YTD Mar 2015 - Feb February 2016 2016 UMHLATHUZE RICHARDS BAY 0 0.0% 103 3.1% 0 0.0% 136 33.7% 165 4.5% 136 50.8% CITY OF TSHWANE PRETORIA 635 10.9% 401 12.2% 429 11.0% 55 13.5% 478 13.0% 47 17.4% MATATIELE MATATIELE 0 0.0% 0 0.0% 0 0.0% 39 9.7% 0 0.0% 0 0.0% EKURHULENI GERMISTON 0 0.0% 109 3.3% 118 3.0% 30 7.5% 117 3.2% 9 3.4% GREATER TZANEEN TZANEEN 0 0.0% 0 0.0% 0 0.0% 22 5.5% 0 0.0% 11 4.1% GREATER KOKSTAD KOKSTAD 0 0.0% 0 0.0% 0 0.0% 22 5.3% 0 0.0% 22 8.0% SWARTLAND MALMESBURY 0 0.0% 0 0.0% 0 0.0% 18 4.4% 0 0.0% 0 0.0% MUSINA MUSINA 0 0.0% 0 0.0% 65 1.7% 14 3.6% 79 2.2% 14 5.4% NDLAMBE PORT ALFRED 0 0.0% 0 0.0% 0 0.0% 13 3.2% 0 0.0% 13 4.8% MALETSWAI ALIWAL NORTH 0 0.0% 0 0.0% 0 0.0% 11 2.7% 0 0.0% 0 0.0% ALBERT LUTHULI CAROLINA 0 0.0% 0 0.0% 0 0.0% 10 2.5% 0 0.0% 0 0.0% DIKGATLONG BARLEY WEST 0 0.0% 0 0.0% 0 0.0% 10 2.3% 0 0.0% 0 0.0% TSANTSABANE POSTMASBURG 0 0.0% 0 0.0% 0 0.0% 7 1.7% 0 0.0% 7 2.6% MATJHABENG WELKOM 0 0.0% 0 0.0% 0 0.0% 6 1.4% 0 0.0% 0 0.0% MAKHADO MAKHADO 0 0.0% 0 0.0% 0 0.0% 5 1.3% 0 0.0% 5 1.9% BUSHBUCKRIDGE BUSHBUCKRIDGE 904 15.5% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% POLOKWANE POLOKWANE 409 7.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% MAFIKENG MAFIKENG 385 6.6% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 220 3.8% 0 0.0% 113 2.9% 0 0.0% 107 2.9% 0 0.0% CITY OF CAPE TOWN CAPE TOWN 216 3.7% 139 4.2% 593 15.2% 0 0.0% 577 15.8% 0 0.0% UPHONGOLO PONGOLA 171 2.9% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% MARULENG HOEDSPRUIT 153 2.6% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% RUSTENBURG RUSTENBURG 127 2.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% CITY OF JOHANNESBURG 118 2.0% 454 13.8% 147 3.8% 0 0.0% 116 3.2% 0 0.0% JOHANNESBURG PHUMELELA VREDE 104 1.8% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% NELSON MANDELA BAY PORT ELIZABETH 94 1.6% 100 3.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% MSUKALIGWA ERMELO 91 1.6% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% KAGISANO/MOLOPO 89 1.5% 0 0.0% 135 3.5% 0 0.0% 114 3.1% 0 0.0% GEORGE GEORGE 83 1.4% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% ETHEKWINI DURBAN 0 0.0% 162 4.9% 85 2.2% 0 0.0% 85 2.3% 0 0.0% EMAKHAZENI BELFAST 0 0.0% 153 4.6% 0 0.0% 0 0.0% 0 0.0% 0 0.0% LOCAL MUNICIPALITY BRITS 0 0.0% 131 4.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% OF MADIBENG ABAQULUSI VRYHEID 0 0.0% 101 3.1% 77 2.0% 0 0.0% 77 2.1% 0 0.0% EMALAHLENI WITBANK 0 0.0% 94 2.8% 63 1.6% 0 0.0% 63 1.7% 0 0.0% THE MSUNDUZI PIETERMARITZBURG 0 0.0% 79 2.4% 0 0.0% 0 0.0% 0 0.0% 0 0.0% RAMOTSHERE MOILOA ZEERUST 0 0.0% 77 2.3% 0 0.0% 0 0.0% 0 0.0% 0 0.0% MBOMBELA NELSPRUIT 0 0.0% 73 2.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% STEVE TSHWETE MIDDELBURG 0 0.0% 71 2.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% METSIMAHOLO SASOLBURG 0 0.0% 0 0.0% 134 3.4% 0 0.0% 71 1.9% 0 0.0% GAMAGARA KATHU 0 0.0% 0 0.0% 96 2.5% 0 0.0% 0 0.0% 0 0.0% DITSOBOTLA LICHTENBURG 0 0.0% 0 0.0% 92 2.4% 0 0.0% 92 2.5% 0 0.0% MANGAUNG BLOEMFONTEIN 0 0.0% 0 0.0% 77 2.0% 0 0.0% 0 0.0% 0 0.0% KWADUKUZA STANGER 0 0.0% 0 0.0% 73 1.9% 0 0.0% 63 1.7% 0 0.0% VENTERSDORP VENTERSDORP 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 4 1.6% HIBISCUS COAST PORT SHEPSTONE 0 0.0% 0 0.0% 0 0.0% 0 0.0% 56 1.5% 0 0.0% OTHER 2,021 34.7% 1,049 31.8% 1,609 41.2% 7 1.8% 1,404 38.3% 0 0.0% Total 5,820 3,297 3,906 405 3,665 269

71 The top commercial transactions greater than R5 million and limited to 50 for February 2016 are:

Rank Purchase Price Buyer Seller Erf Key Suburb Node

1 136,380,593 UBIZO COMMUNAL PROPERTY ASSOCIATION CRYSTAL HOLDINGS PTY LTD GU~15824~00026 KWAMETHETHWA RESERVE 2 46,740,000 GOVERNMENT EMPLOYEES PENSION FUND CITY OF TSHWANE ERASMUSKLOOF~671~00000 ERASMUSKLOOF PRETORIA - EAST METROPOLITAN MUNICIPALITY ERASMUSKLOOF~674~00000 ERASMUSKLOOF PRETORIA - EAST

3 22,230,000 GREATER TZANEEN MUNICIPALITY LETABA BRICKYARD PTY LTD LT~557~00009

4 21,500,000 THE NATIONAL GOVERNMENT OF THE REPUBLIC OF SOUTH DU PLESSIS KINDERS TRUST- ES~120~00001 AFRICA TRUSTEES ES~120~00002

5 14,400,000 NATIONAL GOVERNMENT OF THE REPUBLIC OF SOUTH STRYDOM BAREND JACOBUS MT~106~00002 AFRICA 6 12,826,000 NATIONAL GOVERNMENT OF THE REPUBLIC OF SOUTH ELLIOTT NORMAN HARMAN BATHURST RD~206~00005 AFRICA 7 9,200,000 PROVINCIAL GOVERNMENT OF GAUTENG LONCON DEVELOPMENTS PTY VOSLOORUS~16379~00000 MFUNDO PARK EKURHULENI - ALBERTON LTD VOSLOORUS~16380~00000 MFUNDO PARK EKURHULENI - ALBERTON

VOSLOORUS~16381~00000 MFUNDO PARK EKURHULENI - ALBERTON

8 7,622,730 NATIONAL GOVERNMENT OF THE REPUBLIC OF SOUTH SCHOONSPRUIT TRUST IP~216~00013 AFRICA IP~216~00032

IP~216~00049

IP~216~00050

IP~216~00118

9 7,000,000 NATIONAL GOVERNMENT OF THE REPUBLIC OF SOUTH LORISNE CC HAY RD~468~00000 AFRICA 10 5,200,000 NATIONAL GOVERNMENT OF THE REPUBLIC OF SOUTH DORSTIG SAFARIS PTY LTD MS~364~00001 AFRICA MS~364~00003

72 5 DIRECTORS 5.1 Director Value

Director Value identifies those directors that have the greatest involvement in property via their directorships.

The band is defined by the proportional value of the properties that the director is involved in (property value divided by number of directors in the property owning company). The aim is to identify the most important directors in terms of ownership and activity.

There are 31706 directors involved in companies with their proportional property value exceeding R5 million. Of these 4860 directors were involved in purchasing properties during the last 12 months and 363 during the last month.

Band Total 2016 YTD February 2016

A: Greater than R1bill 73 64 43 B: Between R500 and R1bill 128 96 25 C: Between R110 and R500mill 1,278 620 51 D: Between R50 and R110mill 1,587 522 51 E: Between R11mill and R50mill 13,352 1,846 108 F: Less than R11mill 15,288 1,712 85 31,706 4,860 363

5.2 Director Activity

Director Activity is an indication of the level of recent property purchases that directors are involved in the property market, in relation to their total property holding.

‡ High Activity - the director is involved in transactions during the year where the property value is more than 80% of the total property value of the portfolio ‡ Medium Activity ±the director is involved in transactions during the year where the property value is 50 ±of the total property value of the portfolio ‡ Normal Activity - the director is involved in transactions during the year where the property value is less than 50% of the total property value of the portfolio

The number of directors active in purchases which were processed in the deeds office during the last month, in terms of Activity and Value levels, are:

Band A: HIGH B: MEDIUM C: LOW Total (NEWCOMERS) (ESTABLISHED) A: Greater than R1bill 2 41 43 B: Between R500 and R1bill 2 23 25 C: Between R110 and R500mill 8 1 42 51 D: Between R50 and R110mill 1 8 42 51 E: Between R11mill and R50mill 18 32 58 108 F: Less than R11mill 47 20 18 85 Total 74 65 224 363

73 5.3 Bonds

The aim of the bond section is to create a segmentation that allows the mortgage funders to understand the market in terms of the directors of the borrowing companies.

The bonds granted during the last month in the various segments (R million) are:

Band A: HIGH B: MEDIUM C: LOW D: BOND ONLY Total (NEWCOMERS) (ESTABLISHED) A: Greater than R1bill 0 123,124,742 0 123,124,742 B: Between R500 and R1bill 60,952,500 219,297,717 15,661,988 295,912,205 C: Between R110 and R500mill 503,833,331 60,666,667 1,203,387,454 221,563,167 1,989,450,619 D: Between R50 and R110mill 18,749,997 198,166,668 378,792,648 1,313,438,586 1,909,147,899 E: Between R11mill and R50mill 194,596,963 179,331,640 337,485,102 832,731,593 1,544,145,298 F: Less than R11mill 139,769,568 14,360,001 54,834,277 491,712,678 700,676,524 G: Bond only 23,016,667 23,016,667 Total 856,949,859 513,477,476 2,316,921,940 2,898,124,679 6,585,473,954

The market shares during the last month in the segments are:

5.3.1 Lending in terms of Director Activity

The lending (in R millions) to the market for the last 12 months relative to the activity levels of the directors are:

SEGMENT ABSA INVESTEC NEDBANK FNB SBSA TUHF GRINDROD BIDVEST

A: HIGH 866 2% 1,970 7% 2,195 6% 1,834 14% 1,003 6% 79 34% 47 6% 13 49% B: MEDIUM 25,083 63% 3,624 13% 3,304 9% 635 5% 1,196 7% 68 29% 183 25% 0 0% C: LOW 7,921 20% 17,043 59% 21,552 60% 4,690 35% 7,959 44% 68 30% 338 46% 0 0% D: BOND ONLY 5,678 14% 6,079 21% 8,579 24% 6,170 46% 7,878 44% 16 7% 162 22% 14 51% 39,548 28,715 35,630 13,329 18,036 231 730 27

74 5.3.2 Lending in terms of Director Value

The lending (in R millions) to the market for the last 12 months relative to the activity levels of the directors are:

BAND ABSA INVESTEC NEDBANK FNB SBSA TUHF GRINDROD BIDVEST

A: Greater than R1bill 25,266 64% 2,150 7% 3,214 9% 454 3% 1,323 7% 0 0% 0 0% 0 0% B: Between R500 and R1bill 1,309 3% 3,359 12% 5,325 15% 317 2% 2,952 16 0 0% 0 0% 0 0% % C: Between R110 and R500mill 5,752 15% 12,140 42% 12,188 34% 3,967 30% 6,646 37 111 48% 338 46% 0 0% % D: Between R50 and R110mill 833 2% 4,139 14% 4,556 13% 982 7% 2,301 13 36 15% 176 24% 0 0% % E: Between R11mill and R50mill 4,139 10% 5,072 18% 7,564 21% 4,852 36% 3,024 17 68 29% 141 19% 14 51% % F: Less than R11mill 2,147 5% 1,795 6% 2,682 8% 2,698 20% 1,774 10 16 7% 75 10% 13 49% % G: Bond only 102 0% 60 0% 102 0% 60 0% 16 0% 0 0% 0 0% 0 0% 39,548 28,715 35,630 13,329 18,036 231 730 27

75 5.3.3 Top Directors

The tables below seeks to identify the top property directors in the country. This is derived by aggregating the values they are involved in through directorships in property owning companies. The tables below are the top 10 directors in the database, but not duplicating directors for the same company (ie only giving one director per company). Table 1 - Overall Table 2 - Most Recent 12 Months Table 3 - February 2016

Table 1 ±Overall Director Value

Surname Firstname Proportional Value Full Value Most Prominent Company

MORESTAT CORPORATE 19,895,944,344 74,365,290,118 MANDARINA TRADING 470 SERVICES SCHAPER BERNITA 5,070,740,585 21,327,369,908 IFOUR PROPERTIES THREE STEVENS MARK WALTER 4,724,821,748 19,180,251,279 FORTRESS INCOME 5 KONIG ANDREW JOSEPH 3,990,750,835 35,959,765,883 ANNUITY PROPERTIES DE KLERK ESTIENNE KONRAD 3,975,925,724 23,338,190,227 TIBER PROPERTY GROUP TEIXEIRA ANDREW 3,854,046,129 16,442,271,501 CAPITAL PROPFUND 4 RICE DAVID HUW 3,848,506,790 35,207,105,434 REDEFINE PROPERTIES OPCO VOLKEL GERALD 3,388,854,933 19,545,750,223 KILKISHEN INVESTMENTS SERFONTEIN WILLEM JAKOB 3,369,425,640 15,601,821,341 FORTRESS INCOME 2 BAKER BRONWYN 3,226,143,201 32,837,443,540 REDEFINE RETAIL

Table 2 ±Most Recent 12 Months

Surname Firstname Proportional Value Full Value Most Prominent Company Bond

BORNMAN ABRAHAM ALBERTUS 1,106,273,215 5,112,086,643 CAPITAL PROPFUND 1 30,091,667 KONIG ANDREW JOSEPH 855,446,597 7,045,016,366 ERF 2/49 BRYANSTON 0 MORESTAT CORPORATE 1,913,091,285 11,742,948,246 PRISMA FORUM 3,479,386,208 SERVICES RICE DAVID HUW 855,446,597 7,045,016,366 SPEARHEAD PROPERTY HOLDINGS 0 RILEY NICHOLAS PETER 935,019,637 6,777,150,011 SPAREPROPS 94,009,091 SCHAPER BERNITA 1,280,370,545 5,634,378,634 CAPITAL PROPFUND 3 157,966,667 STEVENS MARK WALTER 861,091,114 3,957,260,910 FORTRESS INCOME 2 151,091,667 TEIXEIRA ANDREW 1,280,370,545 5,634,378,634 PANGBOURNE PROPERTIES 30,091,667 WAINER MARC 895,669,880 7,447,249,200 MEDICAL DEVELOPMENT CORPORATION 90,500,000 WOOLER ANDREW ROBERT 935,019,637 6,777,150,011 DOUBLE FLASH INVESTMENTS 51 94,009,091

Table 3 ±February 2016

Surname Firstname Proportional Value Full Value Most Prominent Company Bond

BORNMAN ABRAHAM ALBERTUS 295,292,180 1,185,649,905 CAPITAL PROPFUND 1 0 GOLDBERG DANIEL 82,500,000 82,500,000 K2015315375 (SOUTH AFRICA) 0 HAMMAN MELT 85,522,500 171,045,000 BROOKLYN BRIDGE OFFICE PARK 0 MOOLMAN JOHANNES ZACHARIAS 63,479,584 63,479,584 WESTPAC TRADE AND INVESTMENTS 60,000,000 SCHAPER BERNITA 295,292,180 1,185,649,905 BANDS PROPERTIES 0 SCHOONBEE GERT STEPHANUS 89,134,916 178,269,832 DIAMOND DUO PROPERTIES 143 97,375,000 STUHLER BARRY LESTER 290,810,997 1,163,243,987 CAPITAL PROPFUND 2 0 TEIXEIRA ANDREW 295,292,180 1,185,649,905 CAPITAL PROPFUND 2 0 UPTON CHRISTINA HENDRINA 89,134,916 178,269,832 PRESENT PERFECT INVESTMENTS 300 97,375,000 WILKEN MORNE CORNELIUS 85,522,500 171,045,000 ATTACQ RETAIL FUND 0

76 METHODOLOGY Three databases have been combined to create this unique view of the property market, namely: ‡ Deeds Office - Which shows all property transactions that have been registered in the Deeds Office ‡ CIPC - Company Registration data showing directorships linked to all property owning companies in the Deeds data ‡ Cadastral - Each property can be linked to the cadastral database which provides the exact spatial location of the property

Data is updated weekly, collated and propagated monthly.

In phase 1, we are looking at transactions greater than R5million.

There will be three forms of delivery: Snap Report ±Weekly ±a summary of significant or interesting transactions that occurred ±each Thursday

Detailed Report ±Monthly ±a detailed analysis of transactions that occurred in the month ±10 working days after month end

Website ±spatially enabled web site that will enable the user to perform interactive on line analysis of commercial data.

We have segmented the database into a number of segments: ‡ Owner Segment ‡ Spatial - Municipality or Node ‡ Property Type ‡ Director Relevance ‡ Bond Activity

The data is populated into a relational database that allows us to cut and dice the data into intelligent segments.

77