AGRARIUS SUSTAINABILITY ENGINEERED (RF) LIMITED - Portfolio Covenant Testing AGRIB1 Sukuk

Portfolio Covenant Testing – AGRIB1 Sukuk

AGRARIUS SUSTAINABILITY ENGINEERED (RF) LIMITED
Incorporated in the Republic of South Africa
with limited liability
(Registration Number: 2022/521382/06)
JSE Alpha Code: "AGRIB1"
ISIN: ZAG000202797
LEI: 378900376E9ADF2BD166
("Agrarius" or "the Issuer")


PORTFOLIO COVENANT TESTING – AGRIB1 SUKUK


In accordance with Annexure 3, Condition 1.1 of the Issuer's AGRIB1 Applicable Pricing Supplement
dated 31 January 2024, Sukuk holders are advised that the Portfolio Covenants, as measured against
the Issuer's audited annual financial statements for the period ended 31 March 2026, are as follows:

                                                                       Actual measurement at period-
                                 Measurement at period-end             end
 Covenant                                                              (1 April 2025 – 31 March 2026)
 Maximum Loan to Value           Must not exceed 70% (seventy          60.75% (sixty-point seven five
 Ratio in respect of the         percent)                              percent)
 Portfolio

 Minimum spread on pricing       Must be 2% (two percent) over         3.17% (three-point one seven
 of Underlying Transaction       the Portfolio Rate                    percent)


Accordingly, both Portfolio Covenants have been met.

The Portfolio Covenants Compliance Certificate is available for inspection at the Issuer's registered office
located at 5th Floor, Firestation Rosebank, 16 Baker Street, Rosebank, Johannesburg, 2196, during normal
business hours and has also been made available for download from the Issuer's website by accessing
the following link:    
https://27four.com/portfolio-covenant-compliance-certificate-for-the-measurement-period-ended-31-march-2026-agrib1-sukuk/


Rosebank
18 June 2026

JSE Debt Officer
Johan Fourie
27four Investment Managers


JSE Debt Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 18-06-2026 09:28:00
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