UNAUDITED RESULTS · Other financial assets 1 127 690 1 150 247 Property, plant and equipment 7 846 5 735 Current assets 916 071 1 028 951 Short term portion of other financial assets

PROPERTY FUND

UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 28 FEBRUARY 2018

REBOSIS A ORDINARYDIVIDEND GROWTH

5% to 126.43cents per share

REBOSIS ORDINARYDIVIDEND GROWTH

4% to 63.23cents per share

PROPERTY NETINCOME GROWTH

6.8%

VACANCIES

3.4%

NAV PER A ORDINARY SHARE

R24.80

NAV PER ORDINARY SHARE

R15.60

RETAIL OFFICE INDUSTRIAL

• 6 high quality dominant malls

• Baywest, Hemingways, Forest Hill, Mdantsane, Sunnypark and Bloed Street

• Strongnationaltenantprofile

• Average contractual escalation of 6.9%

• Weighted average lease expiry of 4.6 years

• Vacancies 1.3%

• 42 predominantly A and B grade well-located properties in nodes attractive to government tenants

• Let primarily to National Department of Public Works

• Average escalation of 7.9%

• Shielded from private sector related default (insolvency andcashflow)

• Vacancies 4.6%

• Single tenanted industrial warehouse

• Weighted average lease expiry of 7.8 years

• Lease underpinned by international listed blue chip parent company

• Average escalation of 7.0%

• No vacancy

Number of properties 6Portfolio valuation R’000 8 772 200Gross lettable area - m2 326 008Value per m2 - R 26 908

Number of properties 42 Portfolio valuation R’000 10 000 000 Gross lettable area - m2 560 113 Value per m2 - R 17 854

Number of properties 1 Portfolio valuation R’000 170 000 Gross lettable area - m2 18 954 Value per m2 - R 8 969

Highlights

REBOSIS PROPERTY FUND LIMITED(Rebosisorthecompany)

(Registrationnumber2010/003468/06)(ApprovedasaREITbytheJSE)

JSE share code Rebosis A share: REAJSE share code Rebosis Ordinary share: REB

ISIN Rebosis A share: ZAE000240552ISIN Rebosis Ordinary share: ZAE000201687

1Rebosis Property Fund Unaudited results for the year ended 28 February 2018

Contents

Statement of Comprehensive Income 2

Statement of Financial Position 3

Condensed Consolidated Statement of Cash Flow 4

Condensed Consolidated Statement of Changes In Equity 4

Commentary 5

Segment Report 7Distributable Income 9Declaration And Payment of Cash Dividend 10Significant Related Party Transactions 10Prospects 11Basis of Preparation 11Corporate Information 12

2 Rebosis Property Fund Unaudited results for the year ended 28 February 2018

STATEMENT OF COMPREHENSIVE INCOME

Group

Unaudited for the six months ended 28 February 2018


*RestatedR’000 R’000

Revenue 1 195 686 993 284

Investment property income 1 043 381 1 002 155 Straight-line rental income accrual 100 435 (23873) Net income from facilities management agreement 13 854 10 347 Management fees received 4 833 4 655 Listed property securities income 33 183 -

Property expenses (255 500) (273226)

Net property income 940 186 720 058Other operating expenses (65 142) (55115)

Operating income 875 044 664 943Net interest (295 210) (392502)

Received 72 132 - Paid (367 342) (392502)

Net operating income 579 834 272 441Gain on bargain purchase - 97 389 Changes in fair values (236 721) 737 240 Loss on sale of listed securities - (26705)

Profitbeforetaxation 343 113 1 080 365Taxation - -

Total profit from continuing operations 343 113 1 080 365

Net results from discontinued operations - 125 991

Total profit for the year 343 113 1 206 356

Other comprehensive incomeItemsthatmayberecycledtoprofitandlossForeign currency translation reserve - (346420)

Total comprehensive income 343 113 859 936

Totalprofitattributableto:Owners of the parent 343 113 1 063 682 Non-controlling interests - 142 674

Profitfortheyear 343 113 1 206 356

Total comprehensive income attributable to:Owners of the parent 343 113 820 550 Non-controlling interests - 39 386

Total comprehensive income for the year 343 113 859 936

*Restatement relates to discontinued operations


STATEMENT OF FINANCIAL POSITION

Group

Unaudited as at 28 February 2018

Audited as at 31 August 2017

R’000 R’000

ASSETSNon-current assets 21 849 110 21 617 102

Investment property 18 942 200 18 608 490 Investment in listed REIT securities 1 093 742 1 044 979 Loans to related parties - New Frontier Properties Limited - 70 699 Goodwill 676 412 676 412 Derivative instruments 1 220 60 540 Otherfinancialassets 1 127 690 1 150 247 Property, plant and equipment 7 846 5 735

Current assets 916 071 1 028 951

Shorttermportionofotherfinancialassets 175 801 286 013 Short term portion of derivatives 6 971 49 131 Short term portion of loan to related party - New Frontier Properties Limited 151 810 - Trade and other receivables 548 435 376 478 Cash and cash equivalents 33 054 104 640 Investment property held for sale - 212 689

22 765 181 22 646 053

EQUITY AND LIABILITIESEquity 12 032 547 11 847 850

Stated capital 8 814 527 8 464 527 Reserves 3 218 020 3 383 323

Total equity attributable to equity owners of the parent entity 12 032 547 11 847 850

Non-current liabilities 5 460 746 5 293 966

Interest-bearing borrowings 5 440 176 4 973 982 Deferred payment liability - 228 542 Derivative instruments 20 570 91 442

Current liabilities 5 271 888 5 504 237

Short term portion of interest-bearing borrowings 4 891 091 4 858 196 Short term portion of derivatives - 2 057 Short term portion of deferred payment liability 228 581 350 000 Trade and other payables 152 216 293 984

Total equity and liabilities 22 765 181 22 646 053

Number of A ordinary shares in issue 63 266 012 63 266 012 Number of ordinary shares in issue 673 289 779 642 316 328 Treasury share (2 408 326) (2408326)

Numberofordinarysharesinissue(netoftreasuryshares) 670 881 453 639 698 002

NetassetvalueperAordinaryshare-REA(R) 24.80 24.50 Netassetvalueperordinaryshare-REB(R) 15.60 16.09 Loantovalue(%)* 48.3% 45.7%Calculated in terms of the REIT Best Practice RecommendationsThe loan-to-value ratio equates to net debt divided by the total property assetsNet debt 10 298 213 9 727 538

Interest bearing borrowings less cash and cash equivalents 10 298 213 9 727 538

Property assets 21 315 442 21 302 417

Investment property 18 942 200 18 608 490 Investment in listed REIT securities 1 093 742 1 044 979 Investment property held for sale - 212 689 Loans receivable 1 279 500 1 436 259


CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Group



R’000 R’000

Balance at 31 August 11 847 850 9 462 284Issue of shares 350 000 1 198 391 Treasuryshares(heldbysubsidiary) - (500)Profitfortheyear 343 113 1 063 682 Dividend paid (508 416) (340061)Foreign currency translation reserve - (243131)Non-controlling interest - 143 638

Balance at 28 February 12 032 547 11 284 303

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW

Group



R’000 R’000

Cash flow from operating activites (386 192) (158546)

Cash generated from operations 374 990 593 613

Dividend paid (508 416) (454786)Dividend received 33 179 - Netfinancechargespaid (285 945) (297373)

Cash outflows from investing activities (333 266) (1022356)

Capex and tenant installations (113 828) (58265)Acquisition of listed securities and investments (292 995) (964091)Acquisition of property, plant and equipment (276) - Proceeds on sale of assets 73 833 -

Cash inflows from financing activities 647 870 1 969 818

Proceeds from issue of shares 1 451 879 544 Loan to related party - New Frontier Properties Limited (81 110) - Payment of other liabilities (35 263) - Decreaseinotherfinancialassets 229 592 - Payment of DMTN liability (10 000) - Increase in DMTN liabilities 360 000 - Increaseinfinancialliabilities 183 200 1 090 274

Net movement in cash and cash equivalents (71 588) 788 916 Effect of translation - (12774)Cash and cash equivalents at the beginning of the year 104 642 229 079

Cash and cash equivalents at the end of the year 33 054 1 005 221


COMMENTARY

INTRODUCTIONRebosisisaJSElistedrealestateinvestmenttrust(REIT)withahighqualitydiversifiedportfolioacrosscommercialand retail assets. The majority of the commercial income enjoys a sovereign underpin from leases to national government departments across 42 buildings. Its retail portfolio has a mix of dominant and newly built shopping centressettodominateintheirnodesinPortElizabeth(BaywestMall)andCenturion(ForestHillCity).

FINANCIAL RESULTSRebosis has declared a dividend of 126,43 cents per A ordinary share and 63,23 per ordinary share for the six months ended 28 February 2018. This amounts to an 5,0% period-on-period growth for the A ordinary share and a 4,0% period-on period growth for the ordinary share which is in line with the 4,0% to 6,0% guidance provided.

The portfolio was revalued by independent valuers, LDM Valuation Solutions for both the commercial and industrial portfolios and Mills Fitchet for retail. The value in the underlying portfolio grew by 17.9% to R18.9bn. The like-for-like growth in the underlying retail portfolio amounted to 7.1% year-on-year, 5.5% for the commercial portfolio and 7,0% for the industrial assets.

Distributable income increased by 29.6% from R389.1million in the prior period to R504.2million for this reporting period.TheincreasewasmainlyduetothefullconsolidationofAscensionPropertiesLimited(2017:53.5%).

The net cost to income ratio increased from 15.0% to 16.0% as a result of increased rates and taxes. The property net income increased by 6.8% in line with market related escalations. Anticipated dividend from New Frontier decreased from R63.2million in the prior period to R33.2million in the current reporting period resulting from the disposal of 29.9% of the shares held by Rebosis to a broad based black economic empowerment consortium.

Fund management expenses increased considerably from R55.1million in the 2017 interim period to R65.1million, mainly due to increased staff costs as bonuses to staff in the prior period were paid by the asset manager and not the fund.

PROPERTY PORTFOLIOThe consolidated property portfolio of Rebosis is illustrated in the following graphs in terms of sectoral and geographical splits.

1% 2% 1%

VALUE GLA NET INCOME

46%

53%

36%

62%

40%

59%

Retail

Office

Industrial

VALUE

60%

27%

10%

1% 1% 1%

GLA

61%

22%12%

2% 2%1%

NET INCOME

64%

23%

9%2%

1% 1%

GAUTENG

EASTERN CAPE

KWA-ZULU NATAL

NORTH WEST

WESTERN CAPE

MPUMALANGA

Sectoral spread

As at 28 February 2018

Geographic spread


COMMENTARY (Continued)

FUNDINGAt 28 February 2018, Rebosis’ borrowings increased to R10.3 billion from R9.8 billion in the prior reporting period resulting fromadditional shares acquired inNewFrontierProperties Limited (“NFP”) and the fundingof theDublin acquisition by NFP. The weighted average cost of debt decreased marginally from 9.4% to 9.3%, largely due to the decrease in the JIBAR reference rate. There are currently hedge arrangements in place for 67.1% of the debt.

The loan to value increased from 45.7% to 48.3% as a result of the increased borrowings.

Group

BASIC AND HEADLINE EARNINGS PER SHARE



Rebosis A ordinary sharesNumber of shares in issue at period end 63 266 012 - Weighted average number of shares in issue 63 266 012 -

Rebosis Ordinary sharesNumber of shares in issue at period end 673 289 779 642 526 328Less treasury shares (2 408 326) (2618326)

Number of shares in issue net of treasury shares 670 881 453 639 908 002

Weighted average number of shares in issue used for the calculation of earnings and headline earnings per share 648 121 956 563 345 824

CONTINUING OPERATIONS R’000 R’000

Profitattributabletoordinaryequityholdersoftheparententity 343 113 978 650Adjusted for: - - Change in fair value of investment properties (36 051) (737239)Gain on bargain purchase - (97389)

Headline profit attributable to shareholders 307 062 144 022

BasicanddilutedearningsperREAshare(cents) 126.43 - BasicanddilutedearningsperREBshare(cents) 40.60 173.72BasicanddilutedheadlineearningsperREAshare(cents) 126.43 - BasicanddilutedheadlineearningsperREBshare(cents) 35.04 25.56

DISCONTINUING OPERATIONS R’000 R’000

Profitattributabletoordinaryequityholdersoftheparententity - 85 031Adjusted for:Change in fair value of investment properties - (29337)

Headline profit attributable to shareholders - -

BasicanddilutedearningsperREBshare(cents) - 15.09BasicanddilutedheadlineearningsperREBshare(cents) - 9.88

TOTAL OPERATIONS R’000 R’000

Profitattributabletoordinaryequityholdersoftheparententity 343 113 1 063 682Adjusted for:Change in fair value of investment properties (36 051) (766616)Gain on bargain purchase - (97389)

Headline profit attributable to shareholders 307 062 199 677

BasicanddilutedearningsperREAshare(cents) 126.43 -BasicanddilutedearningsperREBshare(cents) 40.60 188.82BasicanddilutedheadlineearningsperREAshare(cents) 126.43 -BasicanddilutedheadlineearningsperREBshare(cents) 35.04 35.44


SEGMENT REPORT

The group classifies segments based on the type of property i.e. Commercial, Retail, Industrial, andOther.Propertiescanbemixeduseproperties.Inthisinstancethepropertywillbeclassifiedaccordingtoitsprincipleuse. Accordingly, the group only has three reporting segments as set out below. Some of the buildings do have asmallretailcomponent(normallyatstreetlevel),butseldomexceeds10%ofthetotalGLAperbuilding.

These operating segments are managed separately based on the nature of the operations. For each of the segments, thegroup’sCEO(thegroup’schiefoperatingdecision-maker)reviewsinternalmanagementreportsmonthly. The CEO considers earnings before taxation to be an appropriate measure of each segment’s performance.

Property portfolio Admin andFor the six months ended 28 February Retail Office Industrial Total

corporate costs Total

2018 R’000 R’000 R’000 R’000 R’000 R’000

Revenue 527 753 602 869 27 048 1 157 670 38 016 1 195 686

Investment property income 450 154 584 782 8 445 1 043 381 - 1 043 381 Management fee received - - - - 4 833 4 833 Listed security income - - - - 33 183 33 183 Net income from facilities management - 13 854 - 13 854 - 13 854

Straight line rental income accrual 77 599 4 233 18 603 100 435 - 100 435

Property expenses (121132) (134127) (241) (255500) - (255 500)

Net property income 406 621 468 742 26 807 902 170 38 016 940 186 Other operating expenses - - - - (65142) (65 142)

Operating income 406 621 468 742 26 807 902 170 (27126) 875 044

Net interest - - - - (295210) (295 210)Net operating income 406 621 468 742 26 807 902 170 (322336) 579 834 Other incomeChanges in fair values (205631) 263 285 (21603) 36 051 (272772) (236 721)

Segment profit before taxation 200 990 732 027 5 204 938 221 (595108) 343 113

Investment property 8 772 200 10 000 000 170 000 18 942 200 - 18 942 200 Other assets 153 808 277 836 - 431 645 3 391 336 3 822 981

Total assets 8 926 008 10 277 836 170 000 19 373 845 3 391 336 22 765 181

Total liabilities 60 276 64 861 200 125 337 10 602 297 10 727 634


SEGMENT REPORT (Continued)

Property portfolio

For the six months ended 28 February Retail Office

Discon- tinued

Opera-tions Industrial Total

Admin andcorporate

costs Total2017(restated) R’000 R’000 R’000 R’000 R’000 R’000

Revenue 435 335 538 953 178 126 14 341 1 166 755 4 655 1 171 410

Investment property income 435 901 551 625 178 126 14 629 1 180 281 - 1 180 281 Management fee received - - - - - 4 655 4 655 Net income from facilities management - 10 347 - - 10 347 - 10 347 Straight line rental income accrual (566) (23019) - (288) (23873) - (23 873)

Property expenses (138380) (133104) (24607) (1742) (297833) (297 833)

Net operating income 296 955 405 849 153 519 12 599 868 922 4 655 873 577 Other operating expenses - - (10143) - (10143) (55115) (65 259)

Operating Income 296 955 405 849 143 376 12 599 858 779 (50461) 808 318 Net interest - - (49456) - (49456) (392502) (441 958)

Net operating income 296 955 405 849 93 920 12 599 809 323 (442963) 366 360 Other Income 1 244 1 244 1 244 Changes in fair values 281 695 385 183 29 376 - 696 254 70 362 766 616 Gain on bargain purchase - - - - - 97 389 97 389 Loss on sale of listed securities - - - - - (26705) (26 705)

Segment profit before taxation 578 650 791 032 124 540 12 599 1 506 821 (301917) 1 204 904

Investment property 8 582 119 8 288 135 4 411 864 - 21 282 118 - 21 282 118 Investment property held for sale - 1 046 233 - 265 000 1 311 233 - 1 311 233 Other assets 698 371 180 479 129 659 - 1 008 509 1 651 954 2 660 463

Total assets 9 280 490 9 514 847 4 541 523 265 000 23 601 860 1 651 954 25 253 814


DISTRIBUTABLE INCOME

Group

Non-IFRS information R’000 R’000

Reconciliationofprofitbeforetaxtodistributableearnings:Totalprofitbeforetaxation 343 113 1 204 904Taxation - 1 452

Profit for the year 343 113 1 206 356 Less: Portion attributable to non-controlling interests - (142674)Adjusted for:Changes in fair value 236 721 (699140)Gain on bargain purchase - (97389)Straight line rental accrual (100 435) 23 873 Amortisation of structuring fees 9 271 1 683 Corporate transaction costs 2 699 22 644 Antecedent interest 14 499 53 051 Loss on sale of listed securities - 26 705 Dividend income distributed in previous periods (33 183) (117838)Anticipated distribution from listed REIT subsidiaries 31 500 115 444 Consolidation adjustments between group entities: - (3630)

Distributable earnings attributable to shareholders/owners of the parent 504 185 389 085

Dividend per share (cents)A Ordinary Shares - REA 126.43 120.41 Ordinary Shares - REB 63.23 60.80

Growth in dividend per shareA Ordinary Shares - REA 5.0%Ordinary Shares - REB 4.0%

* In terms of the South African REIT Association Best Practice Recommendations, Rebosis has become entitled at period-end to the anticipated distributions of its listed REIT subsidiaries. Accordingly an adjustment is made at period-end to match the anticipated income of the distribution with the period to which the distribution relates.


SIGNIFICANT RELATED PARTY TRANSACTIONS

Partiesareconsideredrelated ifonepartyhastheability toexercisecontrolorsignificant influenceover thepartymakingfinancialoroperationaldecisions.RelatedpartieswithwhomtheGrouptransactedwithduringthe period were:

Related party transactions

Group

2018 2017Related Party Balances R000 R000

Loans accounts- owing (to) by related partiesNew Frontier Properties Limited 151 810 - Billion Group Proprietary Limited

Deferred purchase consideration (228 581)Net adjustment account 175 801

Amounts included in trade and other receivablesMthatha Mall Proprietary Limited 7 982 - Amounts included in trade and other receivablesBillion Group Proprietary Limited - 87 588Interest received from related parties - New Frontier Properties Limited 8 125 - Rental warranty incomeBillion Group Proprietary Limited 40 373 16 844Asset management fee income - Mthatha Mall Proprietary Limited 2 908 -

DECLARATION AND PAYMENT OF CASH DIVIDEND

Dividend number 2 of 126.43 cents per A ordinary share and dividend number 15 of 63,23 cents per ordinary share for the six months ended 28 February 2018 will be paid to the shareholders in accordance with the abbreviated timetable set out below:

2018

Lastdaytotrade(cumdividend) Tuesday, 22 MaySecuritiestrade(exdividend) Wednesday, 23 MayRecord date Friday, 25 MayPayment date Monday, 28 May

SharecertificatesmaynotbedematerialisedorrematerialisedbetweenWednesday,23May2018andFriday, 25 May 2018, both days inclusive.

The dividend will be transferred to dematerialised shareholders’ CSDP/broker accounts on Monday, 28 May 2018. Certificated shareholders’ dividend payments will be posted on or paid to certificated shareholders’ bankaccounts on or about, Monday, 28 May 2018.

An announcement informing shareholders of the tax treatment of the dividends will be released separately on SENS.


BASIS OF PREPARATION

The unaudited results for the six months ended 28 February 2018 have not been reviewed or reported on by the company’s independent auditors, Grant Thornton Johannesburg Partnership. These results have been prepared inaccordancewithInternationalFinancialReportingStandards(IFRS), IAS34, InterimFinancialReporting,theSAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council, JSE Listings Requirements and the requirements of the Companies Act of South Africa.

AllamendmentstostandardsthatareapplicabletoRebosisforitsfinancialyearbeginning1September2017have been considered. Based on management’s assessment, the amendments do not have a material impact on thegroup’scondensedconsolidatedinterimfinancialstatements.

The accounting policies are consistent with those applied in the previous consolidated annual financialstatements.ThesefinancialresultshavebeenpreparedunderthesupervisionoftheChiefFinancialOfficer,MdeLange,CA(SA).

The directors are not aware of any matters or circumstances arising subsequent to 28 February 2018 that require anyadditionaldisclosureoradjustmenttothefinancialstatements,otherthanasdisclosedinthisannouncement.

With effect from 03 November 2017, Zandile Kogo was appointed to the board of directors of the company as an executive director given her wealth of experience in property industry, in both developments and existing portfolios. On 18 April 2018, AndileMazwai resigned as Chief ExecutiveOfficer (CEO) and Sisa NgebulanasteppedintoanexecutivecapacityandassumesthefunctionsofaChiefExecutiveOfficerinhisroleasDeputyChairman.

PROSPECTS

Rebosis is well positioned for future growth given its stable and defensive retail portfolio that comprises an 88% nationaltenantprofile.Boththeretailandofficeportfoliohavedelivereda6.8%netpropertyincomegrowthinthe reporting period with positive rent uplift on renewals that indicate good property fundamentals.

Rebosiswillhaveastrongfocusonoperationswithanacceleratedfocusonfillinguptheremainingvacanciesat Forest Hill and Baywest, the newly acquired malls.

Of importance, there will be a strong focus on Balance Sheet management to reduce gearing to below 35%, whichwillbeachievedthroughanaccelerateddisposalofnon-coreofficeassets.Thisinturnwillalsoservetoachieve more retail bias on the remaining portfolio in line with its stated strategy of being a retail focused fund.

This prospects statement is issued by the board and has not been reviewed or reported on by the company’s external auditors.

By order of the Board

7 May 2018


CORPORATE INFORMATION

Ordinary A share code: REA and ISIN: ZAE000240552Ordinary B share code: REB and ISIN: ZAE000201687JSE sector: Real Estate – Real Estate holdings and developmentListing date: 17 May 2011Number of sharesAordinaryshares:63266012(2017:Nil)Ordinaryshares:673289779(2017:642316328)Company registration number: 2010/003468/06Country of incorporation: South Africa

Website: www.rebosis.co.za

DIRECTORS

ATMMokgokong*(Chairperson)

SMNgebulana(ExecutiveDeputyChairman)@

MdeLange(ChiefFinancialOfficer)@

ZKogo(Director:Retail)@

WJ Odendaal*

NV Qangule*

TSM Seopa*

M Mdlolo*

F Froneman*

MM Mdlolo*

* Independent Non-executive @Executive

REGISTERED OFFICE AND COMPANY SECRETARY

2nd Floor, Roland Garros Building, The Campus, Cnr Sloane and Main streets, Bryanston, 2191

Private Bag x21 Bryanston 2021 Tel: 011 575 4835

BANKERS

First National Bank (adivisionofFirstRandBankLimited)6th Floor, First PlaceCorner Simmonds and Pritchard StreetsJohannesburg2001(POBox1153,Johannesburg,2000)

INDEPENDENT AUDITORS

Grant Thornton Johannesburg Partnership CharteredAccountants(SA)Registered AuditorsWanderers Office Park52 Corlett DriveJohannesburg2196(PrivateBagX10046,Sandton,2146)

TRANSFER SECRETARIES

Computershare Investor Services Proprietary LimitedRosebank Towers,15 Biermann Avenue,Rosebank, 2196(POBox61051,Marshalltown,2107)

SPONSOR

Rand Merchant Bank (AdivisionofFirstRandBankLimited)(Registrationnumber1929/001225/06)

1 Merchant PlaceCorner Fredman Drive and Rivonia RoadSandton, 2196(POBox786273,Sandton,2146)

LEGAL ADVISERS

Bowman Gilfillan165 West StreetSandton, 2146(POBox785812,Sandton2146)Cliffe Dekker Hofmeyer Inc.11 Buitengracht StreetCape Town,8001(POBox695,CapeTown,8000)

QUERIES RELATING TO INTEGRATED REPORT

Marelise De Lange [email protected]

PROPERTY FUND

Documents

UNAUDITED RESULTS · Other financial assets 1 127 690 1 150 247 Property, plant and equipment 7 846 5 735 Current assets 916 071 1 028 951 Short term portion of other financial assets