BURSTONE GROUP LIMITED - Compliance with Financial Covenants as at 30 September 2023

Compliance with Financial Covenants – as at 30 September 2023

Burstone Group Limited
(Formerly Investec Property Fund Limited)
(Incorporated in the Republic of South Africa)
(Registration Number 2008/011366/06)
("Burstone")

 Compliance with Financial Covenants – as at 30 September 2023

 Pursuant to the Domestic Medium Term Note Programme, dated 04 June 2019, and referred to in the
 Applicable Pricing Supplements, Burstone has complied, in all material respects, with the relevant
 financial loan covenants as at 30 September 2023 in respect of the financial covenants as follows:

 a)   The group issuer interest cover ratio is at least 2 times;
 b)   The group issuer loan to value does not exceed 50%;
 c)   The group encumbered assets to value ratio does not exceed 70%;
 d)   The group Net Asset Value is greater than R7,000,000,000; and
 e)   The individual tranche loan to value does not exceed 60%.


 8 December 2023

 Debt sponsor
 Investec Bank Limited

Date: 08-12-2023 01:00:00
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