EQUITES PROPERTY FUND LIMITED - Trading statement

Trading statement

EQUITES PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/080877/06)
Share code: EQU ISIN: ZAE000188843
JSE alpha code: EQUI
(Approved as a REIT by the JSE)
("Equites" or "the Company")


TRADING STATEMENT


Shareholders are referred to the distribution per share guidance for the year ending 28 February 2024 ("FY24")
published on SENS on 9 May 2023, which indicated a full-year dividend per share of between 130 and 140
cents per share.

Shareholders are advised that, in line with the above guidance and subject to final board approval, the dividend
per share for the six months ended 31 August 2023 will be 65.36 cents per share ("interim dividend"). Given
the change in strategy communicated in May 2023, this is in line with the Board's expectations and previously
communicated guidance in respect of distribution per share for FY24.

The interim dividend is a 19.9% decrease from the dividend per share for the six months ended 31 August
2022 of 81.58 cents per share and was primarily impacted by the exclusion of income from cross-currency
interest rate swaps from distributable earnings and the higher interest rate environment.

Equites remains on track to achieve a full-year dividend per share of between 130 and 140 cents per share.

The financial results on which this trading statement is based have not been reviewed or reported on by
Equites' auditors. The results for the six months ended 31 August 2023 will be published on 10 October 2023.

6 October 2023


Sponsor
Java Capital

Debt Sponsor
Nedbank Corporate and Investment Banking,
(a division of Nedbank Limited)

Date: 06-10-2023 02:00:00
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