INGENUITY PROPERTY INVESTMENTS LIMITED - Trading statement

Trading statement

INGENUITY PROPERTY INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/018084/06)
ISIN: ZAE000127411 JSE share code: ING
(“Ingenuity” or “the company”)

TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, shareholders are advised
that Ingenuity expects to report for the six months ended 28 February 2018:

-   headline earnings per share (“HEPS”) of 0.5 cents, which is a decrease of 67% when
    compared to HEPS of 1.5 cents reported for the corresponding six months ended 28
    February 2017; and

-   earnings per share (“EPS”) of 7.6 cents, which is an increase of 46% when compared to EPS
    of 5.2 cents reported for the corresponding six months ended 28 February 2017.

HEPS has decreased mainly due to:

-   a decrease in net property income of R5.9 million due to three properties sold in the
    previous reporting period, however on a like-for-like property basis, core net property
    income has increased by 12%; and

-   the share of losses of R4.3 million from the equity-accounted investment, City Park joint
    venture, for which a redevelopment planning application has been submitted and which
    development is expected to commence in due course. The losses result mainly due to the
    interest carrying cost on the property.

EPS has increased mainly due to net increases in the fair value adjustments of investment
properties. In the current reporting period, the net increase was R113.4 million compared to
R53.4 million in the corresponding six months ended 28 February 2017.

The above information has not been reviewed or reported on by the company’s auditors and
Ingenuity’s consolidated results for the six months ended 28 February 2018 are expected to be
published on or about 25 April 2018.

Cape Town
24 April 2018

Sponsor
Nedbank Corporate and Investment Banking

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