Trading Statement AFINE INVESTMENTS LIMITED APPROVED AS A REIT (Incorporated in the Republic of South Africa) Registration number 2020/852422/06 JSE share code: ANI ISIN: ZAE000303947 ("Afine" or "the Company") TRADING STATEMENT In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on will differ by at least 20% from the financial results for the previous corresponding period or a profit forecast previously provided to the market in relation to such period. Shareholders are accordingly advised that a reasonable degree of certainty exists that, for the six months ended 31 August 2023, the basic and diluted earnings per share will be 20.56 cents, representing a decrease of 24.55% compared to the basic and diluted earnings per share of 27.25 cents reported for the six months ended 31 August 2022. Headline earnings per share will be within 20% of the prior comparative period. This financial information has not been reviewed or reported on by the Company's auditors. Afine's unaudited results for the six months ended 31 August 2023 will be published on or about 17 November 2023. BY ORDER OF THE BOARD Cape Town 16 November 2023 Designated Advisor Acaciacap Advisors Proprietary Limited Date: 16-11-2023 12:50:00 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.