BURSTONE GROUP LIMITED - Notice of Annual General Meeting of Burstone, issue of the 2025 Integrated Annual Report and Change Statement

Notice of Annual General Meeting of Burstone, issue of the 2025 Integrated Annual Report and Change Statement

BURSTONE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Reg. No: 2008/011366/06)
Approved as a REIT by the JSE
Share Code: BTN
Bond Code: BTNI
ISIN: ZAE000180915
("Burstone" or "the Group")


Notice of Annual General Meeting of Burstone, issue of the 2025 Integrated Annual Report and Change
Statement

Notice of Annual General Meeting:
The Annual General Meeting (AGM) of Burstone will be held at 4th Floor, 4 Sandown Valley Crescent,
Sandton, South Africa, 2196 at 11:00 on Tuesday, 2 September 2025.

   -   The record date on which shareholders are entitled to receive the notice is Friday, 27 June 2025.
   -   The last day to trade in order to be entitled to vote at the AGM will be Tuesday, 19 August 2025.
   -   The record date on which shareholders are entitled to attend, participate and vote at the AGM is
       Friday, 22 August 2025.
   -   Shareholders (or their representative or proxy) entitled to attend and vote at the AGM, that wish
       to participate in and/or vote at the AGM by way of electronic participation, must either:
           -    Register online using the online registration portal at www.meetnow.global/za prior to the
                commencement of the AGM; or
           -    Make a written application (refer to form attached to the Notice of the AGM included in
                the Integrated Annual Report) to so participate, by delivering the application form to
                Computershare Investor Services Proprietary Limited (Transfer Secretaries), at First Floor,
                Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, or posting it to Private Bag
                X9000, Saxonwold, 2132 (at the risk of the shareholder), or sending it by email to
                proxy@computershare.co.za, so as to be received by the Transfer Secretaries by no later
                than 09:00 on Friday, 29 August 2025, in order for the Transfer Secretaries to arrange such
                participation for the shareholder and provide the shareholder with the details as to how
                to access the AGM by means of electronic participation. Shareholders may still
                register/apply to participate in and/or vote electronically at the AGM after this date,
                provided however that those shareholders are verified (as required in terms of Section
                63(1) of the Companies Act No 71 of 2008, as amended (the Act)) and are registered at
                the commencement of the AGM.

2025 Integrated Annual Report:
The Notice of the AGM has been published and released to shareholders on Friday, 4 July 2025 – the Notice
is available, together with the Group's Integrated Annual Report incorporating the audited annual financial
statements and unqualified audit report from PricewaterhouseCoopers Inc. for the financial year ended
31 March 2025, on the Group's website at https://www.burstone.com/investor-relations/regulatory-
news#regulatory-news
and the JSE cloudlink on: https://senspdf.jse.co.za/documents/2025/JSE/ISSE/BTNE/AFS2025.pdf

Changes since publication of reviewed financial results on 28 May 2025
Shareholders are advised that there has been a change to the consolidated statement of cash flows
("Statement of Cash flows") as included in the reviewed condensed consolidated financial results
("Reviewed Results") for the year ended 31 March 2025, as published on 28 May 2025.

Change to the Statement of Cash Flows Classification
A reclassification has been made within the Statement of Cash flows between investing and financing
activities. In the previously published Reviewed Results, the cash outflow relating to the settlement of the
10.85% profit participation liability amounting to R792.969 million was presented under investing
activities. This has now been reclassified to financing activities in the Annual Financial Statements.

This reclassification affects the subtotals of investing and financing activities respectively, but it does not
impact the net change in cash and cash equivalents or the closing cash position.

There have been no changes to the:
   - Statement of comprehensive income
   - Statement of changes in equity
   - Statement of cash flows (other than the reclassification described above)

Furthermore, there have been no changes to the:
   - Net asset value
   - Net asset value per share
   - Tangible net asset value per share
   - Profit for the year
   - Basic and diluted earnings per share
   - Headline and diluted headline earnings per share
as compared to the amounts previously disclosed in the Reviewed Results.


Johannesburg
4 July 2025
Equity Sponsor
Investec Bank Limited

Debt Sponsor
Investec Bank Limited


Date: 04-07-2025 10:01:00
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