Disposal of EPP’s shares in the Towarowa 22 development EPP N.V. (Incorporated in The Netherlands) (Company number 64965945) JSE share code: EPP ISIN: NL0011983374 LEI Code: 7245003P7O9N5BN8C098 ("EPP" or the "Company") DISPOSAL OF EPP'S SHARES IN THE TOWAROWA 22 DEVELOPMENT INTRODUCTION Shareholders are advised that EPP has, together with its wholly-owned subsidiary EPP GP B.V. (together, the "seller"), entered into a preliminary sale of shares agreement with AFI Europe N.V. (a wholly-owned subsidiary of AFI Properties Ltd.) (together, the "purchaser") to dispose of EPP's shares in a Polish company that holds 70% in a partnership that holds perpetual usufruct rights in respect of land plots of approximately 65 000 m2 in central Warsaw, located at 22 Towarowa Street, Warsaw, for a total cash consideration that may amount to circa EUR127 million (the "disposal" or the "transaction"). RATIONALE AND USE OF PROCEEDS The disposal is in line with EPP's strategy to dispose of non-core assets. The proceeds from the disposal will be utilised to pay down debt funding. TERMS OF THE DISPOSAL AND CONDITIONS PRECEDENT In terms of the preliminary sale of shares agreement, the purchaser will pay EUR 70.8 million of the purchase consideration to the seller upon completion of the transaction. Net proceeds to the seller will be reduced by top- up of the purchase price which is due to be paid by the seller to the original owners of the plots, and other transactional costs. The remainder of the consideration will be paid according to milestones agreed between the parties. The transaction is subject to the final sale of shares agreement being entered into by the seller and the purchaser subsequent to the satisfaction of the conditions precedent, including among others receipt of antitrust clearance by the long stop date, being 31 December 2022. The effective date of the transaction will be upon fulfilment of the conditions precedent, which is expected within the next 4-6 months. The preliminary sale of shares agreement contains warranties, indemnities and undertakings which are normal for a transaction of this nature. PROPERTY SPECIFIC INFORMATION Property Location Sector Total area Maximum Valuation name (m2) disposal consideration (EUR) Towarowa 22 Warsaw, Mixed use 65 700 127 million Full value at the end of year Poland 2021 – EUR 122.3 million (EPP ownership at the time of closing of the transaction (70%) has therefore been valued at EUR 85.6 million) The property was valued by Savills as at 31 December 2021. The property is held for development and thus does not generate any income at present. CATEGORISATION OF THE DISPOSAL The disposal is classified as a category 2 transaction in terms of the JSE Listings Requirements and accordingly, is not subject to approval by EPP shareholders. 24 February 2022 JSE sponsor Java Capital Luxembourg Stock Exchange Listing Agent Harneys For more information: Curwin Rittles, Investor Relations, EPP Mobile: +48 885 982 310 Curwin.rittles@epp-poland.com Java Capital, JSE Sponsor Phone: +27 (0)78 456 9999 Harneys Luxembourg, Luxembourg Stock Exchange Listing Agent Phone: +352 27 86 71 02 Singular Systems IR Michèle Mackey +27 (0)10 003 0700/+27 (0)82 497 9827 michele@singular.co.za Date: 24-02-2022 10:02:00 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.