Trading statement and update ARROWHEAD PROPERTIES LIMITED Incorporated in the Republic of South Africa) (Registration number 2007/032604/06) JSE share code: AHA ISIN: ZAE000275491 JSE share code: AHB ISIN: ZAE000275509 (Granted REIT status with the JSE) (“Arrowhead” or “the Company”) TRADING STATEMENT AND UPDATE Shareholders are referred to Arrowhead’s pre-close update released on SENS on 23 March 2021 as well as the various announcements released during November 2020. During the period under review, Arrowhead has navigated what remains a challenging trading environment and continues to position itself to be well placed to take advantage of improved conditions as and when they arise. For the six-month period ended 31 March 2021 (“the interim period”), distributable income per A share is expected to increase to 58,59 cents from 56,77 cents for the six months ended 31 March 2020 (the “prior period”), representing an increase of 3.2%. The distributable income per B share for the interim period is expected to decrease to 23,19 cents from 30,65 cents per share for the prior period, representing a decrease of 24.3%. The reduction in the distributable income per B share is principally a result of lower income from Indluplace Properties Limited, budgeted income dilution from the disposal programme undertaken to strengthen Arrowhead’s balance sheet and a continuing pressure on rentals, in part due to COVID-19. Despite these headwinds, the performance by Arrowhead for the interim period reflects a strong recovery when compared to the second six months of the 2020 financial year, with the expected distributable income per B share for the interim period up 57% from the 14,74 cents for the six months ended 30 September 2020. The Board will make a decision regarding the declaration of a dividend for the interim period at its meeting on 25 May 2021, at which point a further trading statement will be released if required. The financial information contained in this trading statement and update has not been reviewed or reported on by the Company’s auditors. Arrowhead will announce its results for its interim period on 26 May 2021 and will host a virtual presentation at 11h00 on 26 May 2021. For further details contact anusha@arrowprop.co.za 21 May 2021 Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 21-05-2021 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.