Portfolio update September 30, 2017

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1 RREEF Property Trust Portfolio update September 30, 2017 RREEF Property Trust, Inc. ( RPT ) is a daily net asset value, non-listed real estate investment trust. RPT employs a diversified strategy that includes allocations to the four core sectors of commercial real estate, as well as exposure to traded real estate securities and real estate related debt.1 It does so with a robust research organization behind it and one of the world s most well recognized and respected real estate managers Deutsche Asset Management. Key facts Product inception date January 3, 2013 Total assets $201,145,775 Net asset value $107,836,280 2 Number of properties 8 Number of securities holdings 38 Total square feet/units 721,052/138 Portfolio occupancy 100% Company leverage 46% Property leverage 49% 3 Share price Class A: $13.59 Class I: $ ) Diversification does not assure a profit or protect against loss in a declining market. 2) Fair value. Does not include other company level assets such as accounts receivable, prepaid expenses and deferred financing costs. 3) Excludes $8.95 million due to affiliates as of 9/30/17. This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. An offering is made only by a prospectus filed with the appropriate regulators to individuals who meet minimum suitability requirements. This sales literature must be read in conjunction with a prospectus in order to understand fully all the implications and risks of the offering of securities to which it relates. A copy of the prospectus must be made available to you in connection with the offering described herein. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of our securities or determined if our prospectus is truthful or complete. Neither the Attorney General of the State of New York nor any other regulatory body has passed on or endorsed the merits of this offering. Any representation to the contrary is a criminal offense. Information provided by RREEF America. Securities offered through Deutsche AM Distributors, Inc. Data presented throughout is as of 9/30/17, unless otherwise indicated, and is subject to change.

2 Portfolio snapshot Distribution summary Class I Class A Distribution per share 3Q17 $ $ Distributions per share per day 4 $ Distribution rate (annualized) 5.22% 4.75% Distributions reinvested 43% Total return summary 5 3Q17 YTD 1-Year 3-Year 7 Since Inception 7 Class I 2.06% 5.74% 7.62% 7.99% 8.54% Class A 6 no load 1.95% 5.47% 7.22% 7.46% 7.64% Class A 6 with sales load 1.02% 2.40% 4.10% 6.41% 6.87% Performance is historical and past performance is no guarantee of future results. The returns have been prepared using unaudited data and valuations of the underlying investments in the Company s portfolio, which are done by our independent valuation advisor. Valuations based upon unaudited or estimated reports from the underlying investments may be subject to later adjustments or revisions. 4) Daily per share distribution rate for 6/30/17-9/30/17 before adjustment for class specific expenses. 5) Returns shown reflect the percentage change in the NAV per share from the beginning of the period indicated, plus the amount of distributions paid during the period indicated. All returns shown in the table are net of Company expenses and advisory fees and assume reinvestment of distributions. Returns shown are net of applicable share class specific fees. 6) No load returns exclude up front sales load. Returns with sales load are net of the maximum upfront sales load. Class A shares are offered with a sales load which is comprised of selling commissions of up to 3.0%. Returns with sales load assume a purchase of the shares at the beginning of the period shown. 7) Annualized. Inception for Class I shares: 5/30/13. Inception for Class A shares: 8/12/13. The distributions and income that we pay are uncertain and not guaranteed. The timing and amount of distributions is determined by our board of directors. We may pay distributions from sources other than cash flow from operations, including but not limited to, the proceeds of this offering, borrowings or the sale of properties or other investments. For the six months ended 9/30/17, 74% of distributions were funded by cash flows from operations and 26% of distributions were funded from offering proceeds or borrowings. From inception through 12/31/15, our expenses were supported by expense support payments from our advisor, which are subject to repayment in future periods and will reduce cash flows during those periods. If our advisor had not made the expense support payments, a greater proportion of the distributions would have been funded from offering proceeds or borrowings. Distributions paid from sources other than cash flow from operations may not be sustainable. NAV per share performance 8 Real estate portfolio by geography $14.00 $13.50 $13.00 $12.50 $12.00 $ /13 5/14 5/15 5/16 9/17 Class A Share Class I Share Industrial Mixed-use Retail Multifamily 8) Change in NAV per share. Past performance is not indicative of future results. 2 Portfolio update

3 Portfolio allocation A blended strategy An actively managed portfolio comprised of real estate, real estate securities, real estate related debt and cash represents a truly diversified approach that can potentially help improve the total risk adjusted return of the overall portfolio. Asset class 9 Real estate securities 9.0% Cash 2.2% Real estate (net) 88.8% Core real estate exposure Acquiring different property types in a variety of markets enables RREEF Property Trust to react to changing market conditions and identify the most favorable opportunities within the retail, office, multifamily and industrial sectors. Tenant diversity A diversified tenant mix across multiple professional sectors may help reduce dependence upon, and overexposure to, one particular economic area. Property type 10 Mixed-use 8% Industrial 12% Retail 14% Multifamily 16% Sector Real estate services 2% Pharmacy 4% Technology 5% Home goods 7% Sports apparel 8% Food services 11% 51% Aerospace & defense 23% Health care 17% Finance 12% Insurance 11% Real estate securities portfolio Allocation by property type Specialty 2.8% Self storage 6.0% Hotels 6.4% Retail 6.7% Regional malls 9.4% Data centers 10.6% Apartment 18.0% 16.7% Health care 12.6% Industrial 10.8% Top ten holdings Company name % of Portfolio Welltower, Inc. 6.1% Equinix, Inc. 6.0% Alexandria Real Estate Equities, Inc. 5.1% Simon Property Group, Inc. 4.6% Camden Property Trust 4.2% Duke Realty Corporation 4.1% Boston Properties, Inc. 3.8% CoreSite Realty Corporation 3.5% Ventas, Inc. 3.4% Equity Residential 3.4% 9) As a percentage of Net Assets. Excludes other assets and liabilities. 10) Net. Represents the allocation of the real estate portfolio. Percentages are based on the 3Q17 appraised value of the real estate. The material has been prepared and provided by RREEF Property Trust and its sponsor and advisor. During the period until we have raised substantial proceeds in this offering and acquired a diversified portfolio of our target investments, which we refer to as our rampup period, we will balance the goal of achieving our portfolio allocation targets with the goal of carefully evaluating and selecting investment opportunities in order to maximize diversification and risk-adjusted returns. Portfolio update 3

4 Real estate investment activity and recent acquisitions Acquisition price by quarter $27,000,000 $21,950,000 Acquisition price by year $34,000,000 $21,850,000 $21,950,000 $19,750,000 $0 $0 $0 $0 $0 $0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Industrial Mixed Use Retail Multifamily $27,000,000 $12,750,000 $13,300,000 $18,500, Industrial Mixed Use Retail 2015 $34,000, Multifamily 40 Allied Drive, Dedham, MA $34,000,000 Date Acquired: 9/27/16 Type: Loudoun Gateway I, Sterling, VA $21,950,000 Date Acquired: 12/21/15 Type: The Flats at Carrs Hill, Athens, GA $27,000,000 Date Acquired: 9/30/15 Type: Multifamily Shops at Terra Nova Plaza, Chula Vista, CA $21,850,000 Date Acquired: 10/2/14 Type: Retail Commerce Corner, Logan Township, NJ $19,750,000 Date Acquired: 4/11/14 Type: Industrial 4 Portfolio update

5 Real property holdings Property Location Property type Purchase price Appraised value11 Debt Approx. square footage Heritage Parkway Woodridge, IL Wallingford Plaza Seattle, WA Commerce Corner Initial Initial annual capitalization income (est.) rate12 Occu- Acquisition pancy date $13,300,000 $14,200,000 $6,895,050 94,233 $1,142, % 100% 5/31/13 Mixed-Use $12,750,000 $14,200,000 $6,604,800 30,761 $833, % 100% 12/18/13 Logan Industrial Township, NJ $19,750,000 $24,900,000 $13,000, ,910 $1,203, % 100% 4/11/14 Anaheim Hills Plaza Anaheim, CA $18,500,000 $23,500,000 $9,726,600 73,892 $1,812, % 100% 7/2/14 Terra Nova Plaza Chula Vista, CA Retail $21,850,000 $25,400,000 $12,248,550 96,114 $1,329, % 100% 10/2/14 Flats at Carrs Hill Athens, GA Multifamily $27,000,000 $29,600,000 $14,500, ,864 $1,548, % 100% 9/30/15 Loudoun Gateway I Sterling, VA $21,950,000 $22,500,000 $11,384, ,015 $2,636, % 100% 12/21/15 40 Allied Drive Dedham, MA $34,000,000 $34,600,000 $17,640,750 64,127 $1,853, % 100% 9/27/16 Properties pictured have been acquired by RREEF Property Trust 11) Properties are appraised on a quarterly basis and amounts represent the latest quarterly valuation. There is no guarantee this trend will continue. 12) Capitalization rate is calculated by dividing the net operating income of the property by its purchase price, excluding costs. Net operating income is calculated by deducting all operating expenses, including property taxes and management fees, but excluding operating expenses payable by tenants pursuant to net leases, debt service payments and capital expenditures, from gross operating revenues. Information provided is current as of dates provided and is subject to change purchase price does not include closing costs. Portfolio update 5

6 Why RREEF Property Trust? Portfolio diversifier with core real estate investment strategy Daily redemptions, subject to certain limitations 13 Access to one of the largest investment managers in the world, 45-year heritage and track record Long-term real estate asset allocation tool Possibility to generate attractive returns by acquiring specific property types or markets at the right time in a cycle Strong fiduciary focus and commitment to transparency Potential to generate attractive income Research driven thought leadership supporting investment decisions Veteran management team with a history of working together through multiple cycles There is no guarantee that any of these objectives will be met. Diversification does not assure a profit or protect against losses in a declining market. 13) The total amount of redemptions in any calendar quarter will be limited to shares of our common stock whose aggregate value is equal to 5% of our combined NAV for all classes of shares as of the last day of the previous calendar quarter. Due to the illiquid nature of investments in real estate, we may not have sufficient liquid resources to fund redemption requests. Further, our board of directors has the right to modify or suspend the redemption plan if it deems such action to be in the best interest of our stockholders. See the prospectus for additional details. 6 Portfolio update

7 Deutsche Asset Management s real estate investment business RREEF Property Trust s sponsor, RREEF America, together with its affiliates in Europe and Asia, comprise the global real estate investment business of Deutsche Asset Management, a wholly owned subsidiary of Deutsche Bank. With a 45 year investment heritage, Deutsche Asset Management is one of the largest real estate investment managers in the world with approximately 450 employees in 26 locations worldwide and 699 institutional clients. 14 Its global business offers a diverse range of risk return and geographic strategies, including stabilized, value-add and high yield properties and investments in real estate-related assets on behalf of its institutional clients which include public and corporate pensions, foundations and labor union plans. AUM by strategy Private RE: Asia Pacific $4.4bn Public RE: Global $8.8bn Total: $57.6bn Private RE: Europe $26.4bn Private RE: Americas $18.1bn Numbers may not sum due to rounding. 14) Client count as of 6/30/17. Source: Deutsche Asset Management. Portfolio update 7

8 Nothing contained herein is fiduciary or impartial investment advice that is individualized or directed to any plan, plan participant, or IRA owner regarding the advisability of any investment transaction, including any IRA distribution or rollover. Risk Factors RPT is a speculative security and, as such, involves a high degree of risk. An investment in us involves the same risks associated with an investment in real estate, such as market risk, interest rate risk, risks related to property diversification, tenant turnover and the use of leverage. There is no guarantee that any real estate strategy, including ours, will be successful. There is no public market for our shares of common stock. Our shares should be considered as having only limited liquidity and at times may be illiquid. Our redemption of shares will likely be the only way for you to dispose of your shares, and our redemption plan contains limitations on the number of shares we will redeem in any calendar quarter. Our board of directors may modify or suspend our redemption plan, as well as our investment policies without stockholder approval, which could alter the nature of your investment. The purchase price and redemption price for our shares is based on our NAV, which may not accurately reflect the actual price at which our assets could be liquidated on any given day because valuation of properties is inherently subjective. Our failure to remain qualified as a REIT would have an adverse effect on our operations and our ability to make distributions to our stockholders. Distributions are not guaranteed, are made at the discretion of the board and may be paid from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings or offering proceeds, and we have no limits on the amounts we may pay from such sources. We are dependent upon our advisor to conduct our operations, and our advisor will face conflicts of interest as a result of, among other things, time constraints, allocation of investment opportunities and the substantial fees we will pay to our advisor. Data provided by RREEF America, the Advisor to RREEF Property Trust. Investment products: No bank guarantee Not FDIC insured May lose value Deutsche Asset Management represents the asset management activities conducted by Deutsche Bank AG or any of its subsidiaries. Investment products offered through Deutsche AM Distributors, Inc. Advisory services offered through Deutsche Investment Management Americas, Inc. Deutsche AM Distributors, Inc. 222 South Riverside Plaza, Chicago, IL service@db.com Tel (800) Deutsche Bank AG. All rights reserved. RPT (11/17) R RPT-PORTFOLIO