Arrowhead Research Corp.

Arrowhead Properties Ltd (www.gemgrow.co.za) formerly Gemgrow Properties Limited, is a South Africa-based real estate investment trust (REIT). The Company is focused on owning a portfolio of direct properties in South Africa. Its property portfolio consists of approximately 201 properties across nine provinces of South Africa, including Western Cape, North West, Northern Cape, Limpopo, Gauteng, Free State, Eastern Cape, Mpumalanga and KwaZulu-Natal. Its portfolio includes a wide range of retail, office and industrial tenants located throughout South Africa. Its subsidiaries include Cumulative Properties Limited, Moolgem Proprietary Limited, Karavas Proprietary Limited, Earls Den Proprietary Limited, Triaid Proprietary Limited and Diluculo Properties Proprietary Limited.

• Arrowhead Research Corp.