Voluntary retail trading performance and capital structure update ATTACQ LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/000543/06) JSE share code: ATT ISIN: ZAE000177218 (Approved as a REIT by the JSE) ("Attacq") VOLUNTARY RETAIL TRADING PERFORMANCE AND CAPITAL STRUCTURE UPDATE Attacq wishes to provide an update on its retail portfolio's trading performance and progress made in improving its capital structure. South African portfolio – retail As noted in the interim results, the operational performance for the first six months of the 2021 financial year was significantly impacted by the COVID-19 pandemic's second wave of infections and the implementation of further national lockdown restrictions. The easing of lockdown restrictions of the South African economy from 1 March 2021 has contributed to a recovery in trading conditions with a marked improvement in trading density growth at our retail centres with all our clients (tenants) being able to trade with minimal restrictions. The trend in the retail portfolio’s monthly trading densities from January 2021 to March 2021, together with the comparative monthly trading densities for 2019 and 2020, is provided below: Mar- Mar- Mar- 21 20 19 Mar-21 Feb-21 Feb-20 Feb-19 Feb-21 Jan-21 Jan-20 Jan-19 Jan-21 vs Mar- vs Feb- vs Jan- Centre R/m2 R/m2 R/m2 20 (%) R/m2 R/m2 R/m2 20 (%) R/m2 R/m2 R/m2 20 (%) Mall of Africa 3 081 2 317 3 295 33.0 2 772 2 795 2 658 (0.8) 2 401 2 794 2 742 (14.1) Brooklyn Mall 2 712 2 535 2 505 7.0 2 547 3 068 2 940 (17.0) 2 262 2 846 2 801 (20.5) Eikestad Mall 3 048 2 705 2 700 12.7 2 402 3 182 3 052 (24.5) 1 925 2 775 2 546 (30.6) Garden Route Mall 2 720 2 340 2 594 16.2 2 575 2 572 2 366 0.1 2 737 3 082 2 864 (11.2) MooiRivier Mall 2 714 2 543 2 570 6.7 2 538 2 932 2 562 (13.4) 2 191 2 804 2 649 (21.9) Glenfair Boulevard 5 802 6 365 5 465 (8.8) 4 603 4 986 4 944 (7.7) 5 081 4 780 4 962 6.3 Lynnwood Bridge 5 577 4 930 4 685 13.1 5 415 5 011 4 562 8.1 5 506 4 830 4 517 14.0 Waterfall Corner 5 001 5 494 4 030 (9.0) 4 358 4 375 3 943 (0.4) 3 732 5 269 3 532 (29.2) Effective portfolio (weighted average) 3 163 2 760 3 085 14.6 2 856 3 039 2 846 (6.0) 2 625 3 089 2 921 (15.0) Capital structure Euro-denominated debt Post 31 December 2020, Attacq has settled EUR35.8 million of its euro-denominated debt out of proceeds from the disposal of MAS Real Estate Inc. shares, significantly de-risking of the foreign exchange risk on its balance sheet. Attacq is in the process of extending the 31 July 2022 maturity of the remaining euro-denominated debt (EUR20.0 million). Assuming the abovementioned euro debt repayment had taken place on 1 July 2020, Attacq's interest cover ratio would have improved from 1.40 times to 1.43 times and its gearing ratio at 31 December 2020 would have improved from 46.3% to 44.1%. Rand-denominated debt Attacq has proactively commenced with refinancing its syndicated loan of R3.3 billion secured by the portfolios of its subsidiaries, Attacq Retail Fund Proprietary Limited and Lynnwood Bridge Office Park Proprietary Limited, R2.9 billion of which matures during the 2022 calendar year. Management has undertaken a request for proposal ("RFP") process for R3.0 billion thereof. The RFP was significantly oversubscribed, and allocations have been awarded and communicated to the RFP respondents. The legal process is currently underway, and the refinance is expected to be implemented by 30 June 2021. The balance of the syndicated loan amounting to R0.3 billion is expected to be repaid with proceeds from the sale of assets, with a resulting improvement in portfolio covenant levels. The information contained in this announcement has not been reviewed or reported on by Attacq's external auditors. 3 May 2021 Sponsor Java Capital Date: 03-05-2021 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.