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Release Date: 18/04/2019 15:35
Code(s): ING     PDF:  
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Trading statement

(Incorporated in the Republic of South Africa)
(Registration number 2000/018084/06)
ISIN: ZAE000127411 JSE share code: ING
(“Ingenuity” or “the company”)


In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, shareholders are advised
that Ingenuity expects to report for the six months ended 28 February 2019:

-   headline earnings per share (“HEPS”) of 2.5 cents, which is an increase of 400% when
    compared to HEPS of 0.5 cents reported for the corresponding six months ended 28
    February 2018; and
-   earnings per share (“EPS”) of 5.6 cents, which is a decrease of 26% when compared to EPS
    of 7.6 cents reported for the corresponding six months ended 28 February 2018.

HEPS has increased mainly due to a decrease in net finance costs and the related tax effects
thereof, compared to the corresponding six months ended 28 February 2018, resulting from
lower borrowings due to sales of properties.

EPS has decreased mainly due to net increases in the fair value adjustments to properties being
substantially lower than the comparative period due to less properties in the portfolio and
adjustments to lower market growth assumptions.

The above information has not been reviewed or reported on by the company’s auditors and
Ingenuity’s unaudited consolidated results for the six months ended 28 February 2019 are
expected to be published on or about 26 April 2019.

Cape Town
18 April 2019

Nedbank Corporate and Investment Banking

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