Atlyn

ANNUAL GENERAL MEETING

30 July 2014

Atlyn1 Thabong The Victorian Platz am MeerDenlyn

2010 2011 2012 2013 2014

Victorian 135 000 000

Platz Am Meer 16 166 139 43 000 000 67 734 614 74 500 000

Atlyn 234 700 000 260 000 000 274 900 000 321 700 000 410 600 000

Thabong 150 000 000 164 100 000 176 000 000 243 900 000 265 700 000

Denlyn 217 000 000 289 823 223 375 500 000 450 900 000 511 700 000

Total 601 700 000 730 089 362 869 400 000 1 084 234 6141 397 500 000

36% 40% 43% 42% 37%25%22%

20%22%

19%

39%36%

32%

30%29%

2%5%

6%5%

10%

19%

25%

28%

21%

2* Property valued by Mills Fitchet (Tvl) CC, independent JSE approved valuer

Portfolio Growth – Current: R1.4billion

M a m e l o d iA t t e r i d g e v i l l e

Revenue increased by 20% Operating profit increase with 55% Increase property portfolio by 28% Gearing decreased from 42% to 20% Share price increase with 10%

4,85,52

6,927,63

2011 2012 2013 2014

Share Price - ZAR

0

20

40

60

80

100

120

140

2013 2014

R’M

illio

n

Operating Profit Revenue

+ 55%

+ 20%

4

Operating Profit

Revenue

Financial summary

5

Balance Sheet 2013 As per 2014 Roadshow

Post Listing 7 April 2014

Investment Property 1 073 756 015 1 250 388 495 1 379 152 614

Other assets (Debtors, Deferred tax, Cash, Tax) 25 815 702 26 276 706 38 012 341

TOTAL ASSETS 1 099 571 717 1 276 665 201 1 417 164 955

Interest bearing borrowings – ABSA 337 572 030 - -

Other liabilities 152 908 758 36 536 985 30 707 792

TOTAL LIABILITIES 490 480 788 36 536 985 30 707 792

NETT ASSET VALUE 609 090 929 1 240 128 216 1 386 457 163

Share in issue 72 490 371 158 688 298 170 000 000

Net asset value per share - cents 840 781 816

For the chart above the following key is applicable:A.  Tenants of national listed companies and other nationalsB.  Tenants of national franchises and medium to large professional firmsC.  Local trader and small tenants 6

99,5%

0,5%

Occupancy levelVacant

Vacancy profile

Tenant Composition

85%

4%11%

National Tenant A (m2)

National Franchises B (m2)

Other C (m2)

7S e b o k e n g

SUCCESSFULL ACQUISITION OF THE VICTORIAN

8

Trading since 1997

Geographic Heidelberg, Gauteng

GLA 15,400m²

Gross Annual Income R14,149,048

Investment Value R135,000,000

National Tenants 95%

Occupancy Levels 100%

Trading Density/m² R40,818/m²

Number of Shops 34

Anchor Pick and Pay

M a m e l o d iH e i d e l b e r gH e i d e l b e r g

10

Phase 3: NEW Key factsExisting GLA 28,000m2

GLA extensions 13,500m²

GLA @ completion 41,500m²

Food Anchor Pick and Pay/Spar

Fashion Anchor Edgars

Phase 3 open 22 Nov 2014

Phase 3.1 open 24 April 2015

New tenants 25

Budget R188 000 000

THABONG Extension 

ATLYN: South Block Key facts

Existing GLA 40,000m2

GLA: South Block 1,500m²

GLA @ completion 41,500m²

South Block open 1 Oct 2014

New tenants 3

Budget R20 000 000

11

ATLYN

SOUTH BLOCK DEVELOPMENT

PROJECTS:  ATLYN’1

12

Key facts

Existing GLA 41,500m²

GLA Extension 10,500m²

GLA @ completion 52,000m²

Food Anchor Pick n Pay

Atlyn 1 Q2 2015

New tenants 28

Budget R126 000 000

PROJECTS: Platz Am Meer (Swakopmund Waterfront)

Key facts

Gross Leasable Area 22’000m2

Food Anchor Checkers

Open Nov 2015

Budget (Excl apartments) R267 000 000

New tenants 48

Apartments to be sold 57

Namibian Landmark 13

14Swakopmund: Namibia

Anticipated Growth

0

20000

40000

60000

80000

100000

120000

140000

160000

180000

200000

2009 2010 2011 2012 2013 2014 2015 2016 2017

Denlyn Atlyn Node Thabong Heidelberg Swakopmund Atlyn Church St

48 Tenants

25 Tenants

GLA’m2

42% Growth 90% National Tenants412 Tenants

102 Tenants

113 Tenants

90 Tenants

34 Tenants

15

16

7 April 2014

Listing consequence for Safari• Total shares in issue 170 000 000 after listing

(Share holding at 73% existing and 27% new shareholders)

• Raised R374 564 721, settled all debt and gearing at 0%

• Oversubscribed with 45% and placed at R7.62 (10cents premium/share to placement

value of R7.52)

• Strategic partners like Stanlib, PIC, WDB, Grinrod and Fortress

• Favourable tax legislation (Pre-tax distributions to shareholders)

• Heidelberg acquisition possible

• More flexibility to obtain finance

• Inherent marketing benefit by being a JSE Limited listed entity

• 20 cents/share dividend paid 21 July 2014 and 34 cents/share planned for December

2014

• Reporting in accordance with: International Financial Reporting Standards (IFRS),

Requirements of the SAICA and JSE Limited listings requirements

• Adopted King III as guidance for Corporate Governance

17M a m e l o d i