SYC GRT 201604080049A
SYCOM/GROWTHPOINT/Acucap - Issue of Growthpoint ordinary shares

Sycom Property Fund                Growthpoint Properties           Acucap Properties Limited
Approved as a REIT by the                  Limited                   A wholly-owned Subsidiary of
              JSE                  Approved as a REIT by the                 Growthpoint
A Collective Investment                     JSE                       Incorporated in the Republic of
Scheme in Property                 Incorporated in the Republic               South Africa
Registered in terms of the             of South Africa               (Registration number
Collective Investment              (Registration number                 2001/021725/06)
              Schemes                     1987/004988/06)                      (“Acucap”)
Control Act, No. 45 of 2002          Share code: GRT
            (“CISCA”)                 ISIN ZAE000179420
            Managed by                     (“Growthpoint”)
Sycom Property Fund
Managers Limited (“SPFM”)
(Registration number
1986/002756/06)
Share code: SYC
ISIN: ZAE000019303
(“Sycom”)


ISSUE OF GROWTHPOINT ORDINARY SHARES

With reference to the joint Finalisation Announcement released on 1 April 2016, relating to the various
corporate actions undertaken by Growthpoint, Acucap and Sycom since March 2014 and which will
culminate in the following indivisible transaction:

-       Growthpoint, through its subsidiary, Acucap, acquiring the assets and liabilities of Sycom;
-       Sycom unitholders (other than Growthpoint and its subsidiaries) becoming Growthpoint
        shareholders; and
-       Sycom’s listing on the JSE being terminated and, in time, Sycom being wound-up,

Growthpoint will, on 18 April 2016, allot and issue 2 392 861 new ordinary shares at the closing price
per Growthpoint share on 8 April 2016, that is R24.10 per share, which shares are expected to be listed
on the JSE with effect from 11 April 2016.

Johannesburg
8 April 2016


Sole Corporate Advisor to Growthpoint           Sole Transaction Sponsor to Growthpoint
and Sycom                                       and Sponsor to Sycom

Questco                                         Questco

                                                                                                      
Investment Bank and
Sponsor to Growthpoint

Investec Bank


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