Unaudited interim results for the six months ended 31 August 2019 Balwin Properties Limited (Incorporated in the Republic of South Africa) (Registration number:2003/028851/06) Share code: BWN ISIN: ZAE000209532 ("Balwin" or "the group") Unaudited Interim RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2019 Balwin Properties is a specialist, national residential property developer of large-scale sectional title estates with a focus on high quality, affordable apartments with an innovative lifestyle offering for clients. FINANCIAL HIGHLIGHTS Revenue up 19% to R1 419 million Profit for the year up 4% to R185 million Earnings per share up 4% to 40 cents per share Headline earnings per share up 5% to 40 cents per share Net asset value per share up 17% to 593 cents per share EBITDA up 2% to R258 million The short-form announcement is the responsibility of the Board of Directors of Balwin. It contains only a summary of the information in the full announcement and does not contain full or complete details. The full announcement can be found at: https://senspdf.jse.co.za/documents/2019/jse/isse/BWNE/interims.pdf Copies of the full announcement are also available for viewing on the company's website at www.balwin.co.za or may be requested in person, at the company's registered office or the office of Investec Bank Limited, 100 Grayston Drive, Sandown, at no charge, during office hours. Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement, as a whole. Dividend Notice is hereby given that the board has declared an interim gross dividend of 11.7 cents per ordinary share, payable out of income reserves for the period ended 31 August 2019 to ordinary shareholders in accordance with the time table below: Declared Monday, 21 October 2019 Cum dividend Tuesday, 10 December 2019 Ex dividend Wednesday, 11 December 2019 Record date Friday, 13 December 2019 Payment date Tuesday, 17 December 2019 No dividend was declared in the prior interim period. Dividend tax amounting to 2.34 cents per ordinary share will be withheld in terms of the Income Tax Act. Ordinary shareholders who are not exempt from dividend tax will therefore receive a dividend of 9.36 cents net of dividend tax. The company has 472 192 592 ordinary shares in issue. Balwin's income tax reference number is 9058216848. Share certificates may not be dematerialised or rematerialised between Wednesday, 11 December 2019 and Friday, 13 December 2019, both days inclusive. The financial information contained in this publication has not been reviewed or reported on by the company's external auditors. 21 October 2019 Sponsor Investec Bank Limited Date: 21/10/2019 07:05:00 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.