Sale of UK B&Q Property TEXTON PROPERTY FUND LIMITED Granted REIT status by the JSE (Incorporated in the Republic of South Africa) (Registration number 2005/019302/06) JSE share code: TEX ISIN: ZAE000190542 (“Texton” or the “Company”) SALE OF UK B&Q PROPERTY 1. INTRODUCTION The board of directors of Texton (the “Board”) is pleased to advise shareholders that the Company has completed an agreement with RI UK SA 1 LIMITED, an SPV of Realty Income Corporation (the “Purchaser”), whereby Texton has disposed of its entire freehold interest in the UK property held in a 100% subsidiary, Forbesdale Investments Holdings Limited, know as B&Q (the “Property” or the “Sale”) to the Purchaser, for a sale price of £8.96 million (the “Sale Proceeds”). 2. RATIONALE The current depth of demand for DIY property in the United Kingdom, has provided Texton with an opportunity to sell the Property at a premium to its most recent reported book value of £7.77m. The Sale allows Texton to secure an attractive and profitable exit from the Property, for which Texton will utilize the Sale Proceeds to re-invest into properties with strong value add potential through active asset management and deploy defensive capital expenditure to improve the value of the existing portfolio. The Sale further reduces Texton’s exposure to UK retail property and improves the weighted average lease expiry and income profile of the remaining UK portfolio. 3. TERMS OF THE SALE The Sale, which was subject to simultaneous exchange and completion, completed on 20 August 2021. 4. FINANCIAL AND PROPERTY SPECIFIC INFORMATION Details of the Property are as follows: Location Sector GLA (m2) Weighted Net rental Book Sale average income value Proceeds rental (£) (£ million) (£ million) (£/m2) p.a Trevenson Road, Retail 4,465 £141.4 £315,9691 7.772 8.963,4 Camborne, Cornwall United Kingdom Notes: 1. Unaudited net rental income attributable to the Property for the six months ended 31 December 2020 was £315 969. 2. Unaudited book value as at the interim period ended 31 December 2020. 3. The Sale Proceeds in respect of the Property is considered its fair market value, as determined by the Board. The Board is not independent and are not registered as professional valuers or as professional associate valuers in terms of the Property Valuers Profession Act, No. 47 of 2000. 4. Costs of c.£120,000 will be incurred on associated legal and agent fees. 5. The financial information contained in this announcement has not been reviewed or reported on by a reporting accountant. 5. CATEGORISATION OF THE SALE The Sale is a category 2 transaction in terms of the JSE Listings Requirements and accordingly does not require approval by shareholders. SANDTON 23 August 2021 CORPORATE ADVISER AND SPONSOR TO TEXTON Investec Bank Limited Date: 23-08-2021 03:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.