Sharenet Sites 
Sharenet Sites
Availability Annual Financial Statements for Period Ended 31 March 2025 Sustainability-Linked Sukuk Progress Report
AGRARIUS SUSTAINABILITY ENGINEERED (RF) LIMITED
Incorporated in the Republic of South Africa with limited liability
(Registration Number: 2022/521382/06)
JSE Alpha Code: "AGRIA1"
ISIN: ZAG000191214
JSE Alpha Code: "AGRIB1"
ISIN: ZAG000202797
LEI: 378900376E9ADF2BD166
("Agrarius" or "the Company")
AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS FOR THE PERIOD ENDED
31 MARCH 2025 AND SUSTAINABILITY-LINKED SUKUK PROGRESS REPORT
1. Availability of the annual financial statements
Agrarius Sukuk holders are advised that the audited annual financial statements of the
Company for the period ended 31 March 2025 (the "2025 Annual Financial Statements")
are available for inspection at the Company's registered office situated at Fifth Floor,
Firestation Rosebank, 16 Baker Street, Rosebank, Johannesburg, 2196.
The 2025 Annual Financial Statements have also been made available on the Company's
website at: https://27four.com/annual-report-annual-financial-statements-for-the-year-
ended-31-march-2025/
Agrarius Sukuk holders are further advised that PWC's audit report on the 2025 Annual
Financial Statements of the Company was unqualified, with no modifications applicable.
2. Sustainability-linked Sukuk progress report
In accordance with paragraph 6.81(c) of the JSE Limited Debt and Specialist Securities
Listings Requirements, the Company would like to update Sukuk holders in terms of its asset
backed note programme on the progress against key performance indicators ("KPIs") on the
secured, floating rate sustainability-linked asset backed notes, certified as Shariah compliant
Sukuk.
The information in this progress report has been verified by the Company's independent
sustainability advisor, IBIS ESG Consulting Africa (Pty) Ltd, a division of the SLR Group
("IBIS"), whose report is available for download from the Company's website at:
https://27four.com/annual-independent-verification-report-to-the-directors-of-agrarius-
on-the-progress-of-the-agrarius-sustainability-linked-sukuk/
In summary, in terms of IBIS' verification report the Agrarius' sustainability-linked Sukuk
continued to comply with the ICMA principles and no changes to the Sukuk reporting and
verification commitments have been introduced since the pre-issuance second party opinion
("SPO") conclusion updated on 26 January 2024.
The reviewed KPI performance as at 31 March 2025 is provided below:
KPI #1: % of the portfolio (Rand value) certified with a third-party sustainability
standard
Month Total Capital Value Total Total Weighted Time
Deployed Certified Undeployed Certified Certified Weighted
Value and (%) (%)
Uncertified
Value
Oct 2022 103 878 639 103 878 639 396 121 361 500 000 000 21% 1%
Nov 2022 124 597 389 124 597 389 375 402 611 500 000 000 25% 1%
Dec 2022 124 597 389 124 597 389 375 402 611 500 000 000 25% 1%
Jan 2023 124 597 389 124 597 389 375 402 611 500 000 000 25% 1%
Feb 2023 130 597 389 130 597 389 369 402 611 500 000 000 26% 1%
Mar 2023 167 693 999 152 693 999 332 306 000 500 000 000 31% 1%
Apr 2023 184 872 921 169 872 921 315 127 078 500 000 000 34% 1%
May 2023 199 419 833 184 419 833 300 580 166 500 000 000 37% 1%
Jun 2023 324 773 244 299 692 438 175 226 75 500 000 000 60% 2%
Jul 2023 338 181 042 313 100 236 161 818 957 500 000 000 63% 2%
Aug 2023 369 782 156 344 701 350 130 217 843 500 000 000 69% 2%
Sept 2023 298 032 704 272 937 383 166 671 516 464 704 220 59% 2%
Oct 2023 286 907 418 266 618 589 194 731 759 481 639 177 55% 2%
Nov 2023 262 072 230 246 539 517 225 800 073 487 872 302 51% 2%
Dec 2023 279 811 521 264 278 808 216 049 867 495 861 388 53% 2%
Jan 2024 284 339 663 268 806 951 209 813 367 494 153 030 54% 2%
Feb 2024 772 000 580 758 049 041 149 200 584 921 201 163 82% 3%
Mar 2024 735 029 640 721 078 101 94 103 198 829 132 838 87% 3%
Apr 2024 713 702 628 699 751 090 121 954 683 835 657 311 84% 3%
May 2024 741 287 340 727 335 801 100 819 663 842 107 003 86% 3%
Jun 2024 768 078 880 754 346 249 79 893 562 847 972 441 89% 3%
Jul 2024 830 933 540 817 200 909 22 393 772 853 327 313 96% 3%
Aug 2024 826 791 151 813 773 443 27 371 181 854 162 333 95% 3%
Sept 2024 821 215 290 810 750 384 22 613 887 843 829 178 96% 3%
Oct 2024 751 442 094 744 387 090 90 240 929 841 683 023 88% 3%
Nov 2024 724 538 696 717 483 692 105 504 797 830 043 493 86% 3%
Dec 2024 704 314 777 697 259 773 125 013 205 829 327 982 84% 3%
Jan 2025 706 440 418 699 385 414 122 944 177 829 384 595 84% 3%
Feb 2025 718 693 572 711 638 568 176 201 988 894 895 560 80% 3%
Mar 2025 820 555 660 813 500 656 166 916 040 987 471 700 82% 3%
Total 64%
As per the Sustainability Performance Target conditions outlined in the SPO, the targets set
for the period of post 24 months deployment is 45% of the portfolio (Rand value) certified
with a third-party sustainability standard.
Therefore, Agrarius has exceeded the target for 24 months post-capital deployment, with
64% of the portfolio certified as at 31 March 2025.
Rosebank
31 July 2025
JSE Debt Officer
Johan Fourie
27four Investment Managers
JSE Debt Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 31-07-2025 05:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
