BALWIN PROPERTIES LIMITED - Dealings in Securities by Executive Directors and Prescribed Officers: Acceptance of Long-Term Incentive Share Award

Dealings in Securities by Executive Directors and Prescribed Officers: Acceptance of Long-Term Incentive Share Award

Balwin Properties Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/028851/06
Share code: BWN
ISIN: ZAE000209532
("Balwin" or "the group")


DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND A PRESCRIBED OFFICER: ACCEPTANCE OF
LONG-TERM INCENTIVE SHARE AWARDS

In compliance with the JSE Listings Requirements, shareholders are advised that bonus shares have
been awarded to executive directors and a prescribed officer of the group as pertaining to the
financial year ended 28 February 2025. The bonus shares were awarded on 1 July 2025 in terms of
the group's conditional share plan ("CSP"). Details of the CSP are included in the Remuneration
Report contained in the group's Integrated Annual Report.

In compliance with rules 3.63 to 3.66 of the JSE Listings Requirements, the following information is
disclosed:

Directors of Balwin Properties Limited

 Name of director:                       Stephen Volker Brookes
 Designation:                            Chief Executive Officer
 Name of Company:                        Balwin
 Date of acceptance:                     15 July 2025
 Number of shares:                       410 010
 Deemed price:                           R2.3178
 Total value:                            R950 325

 Vesting date:                           30 June 2028
 Nature of transaction:                  Off-market acceptance of CSP awards
 Nature of interest:                     Direct beneficial
 Clearance obtained:                     Yes

 Name of prescribed officer:             Rodney Norman Gray
 Designation:                            Managing Director
 Name of Company:                        Balwin
 Date of acceptance:                     15 July 2025
 Number of shares:                       357 943
 Deemed price:                           R2.3178
 Total value:                            R829 643

 Vesting date:                           30 June 2028
 Nature of transaction:                  Off-market acceptance of CSP awards
 Nature of interest:                     Direct beneficial
 Clearance obtained:                     Yes

 Name of director:                       Jonathan Bigham
 Designation:                            Chief Finance Officer
 Name of Company:                        Balwin
 Date of acceptance:                     15 July 2025
 Number of shares:                       225 883
 Deemed price:                           R2.3178
 Total value:                            R523 555

 Vesting date:                           30 June 2028
 Nature of transaction:                  Off-market acceptance of CSP awards
 Nature of interest:                     Direct beneficial
 Clearance obtained:                     Yes


Corlett Drive
16 July 2025
Sponsor
Investec Bank Limited

Date: 16-07-2025 11:00:00
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