Putprop Limited: Incorporated in the Republic of South Africa (Registration number 1988/001085/06) Share code: PPR | ISIN: ZAE000072310 ("Putprop" or "the Company" or "the Group") Putprop Limited short form announcement for the six months ended 31 December 2021 and Dividend Declaration Introduction Putprop is a property investment company, listed on the Main Board of the JSE Limited (‘JSE’) under the real estate sector. The Company offers investors an opportunity to participate in the industrial, commercial, retail and residential sectors of a JSE listed property company. The property portfolio at present comprises 16 (June 2021: 16) strategically located properties, situated primarily in the Gauteng geographical area. The total Gross Lettable Area (‘GLA’) of the invested properties is 97 111m2 (June 2021: 99 848m2) with a value of R1.060 billion (June 2021: R1 056 billion). Investment property held for resale was R29.3 million (June 2021: R30.3 million). The results detailed below, makes a direct comparison challenging, when compared with the period ended 31 December 2020 (‘the comparable period’). This is due to the inclusion of Pilot Peridot ("Pilot") as a subsidiary for the six months ended December 2021 but reported as an associate for the six months ended December 2020. Gross property revenue for the six months ended 31 December 2021, including straight-line income adjustments, increased from R29.1 million at December 2020 to R45.1 million as at the date of this report an increase of 54.8%. Gross property rental revenue increased by 57.0% from R38.4 million to R60.3 million. During this period the directors thought it prudent to write down the value of the property portfolio by R 8.7 million (2020: R4.2 million down). Straight line rental positive income adjustments of R7.5 million are also included in fair value adjustments in the comparable period due to a renegotiation of a lease with a major tenant. Net profit before taxation and fair value adjustments was flat at R26.9 million (December 2020: R26.03 million). Trade and other receivables decreased from R29.0 million at June 2021 to R22.6 million at December 2021. As at 31 December 2021, the property portfolio reflected a 1.2% vacancy (June 2021: 2.3%). This vacancy is in the commercial segment. There are no vacancies in other segments. FINANCIAL HIGHLIGHTS HEPS increased by 20.5% from 35.87 cents to 43.24 cents. Interim Dividend distribution maintained of 4.25 cents per share. Net Asset value of 1 479 cents per share Annual escalation on contractual rental income of 6.7% in a competitive rental market Market value per m2 of property portfolio of R10 920 per m2 an increase of 3.2% 6 Months 6 Months % R’000 Dec 2021 Dec 2020 change Contracted rental and recoveries 60 314 38 415 57.0 Operating profit 36 064 30 966 16.5 Earnings per share (cents) 26.13 58.64 (55.4) Headline earnings per share (cents) 43.24 35.87 20.5 Net asset value per share (cents) 1 479 1 419 4.3 Dividend per share (cents) 4.25 4.25 - DIVIDEND DISTRIBUTION Payment of interim distribution - ordinary interim dividend number 65 Notice is hereby given that the Board has declared an interim gross cash dividend (‘the dividend’) for the six months ended 31 December 2021 of 4.25 cents per ordinary share (December 2020: 4.25 cents per ordinary share). The dividend is payable to shareholders recorded in the register of the Company at close of business on Wednesday, 30 March 2021. The current local Dividend Withholding Tax (‘DWT’) rate is 20%. The gross local dividend amount is 4.25 cents per share for shareholders exempt from paying DWT whilst the net local dividend payable is 3.4 cents per share for shareholders liable to pay DWT. The issued share capital of Putprop is 42 409 181 (2020: 43 897 279) shares. Putprop’s income tax reference number is 9100097717. This dividend is payable from income reserves. The salient dates relating to the dividend are as follows: Declaration date Wednesday, 9 March 2022 Last date to trade share cum dividend Tuesday, 29 March 2022 Shares trade ex-dividend Wednesday, 30 March 2022 Record Date Friday, 1 April 2022 Payment date Monday, 4 April 2022 Share certificates may not be dematerialised or rematerialised between Wednesday, 30 March 2022 and Friday, 1 April 2022, both days inclusive. This announcement is a summarised version of the full announcement in respect of Putprop’s Unaudited Condensed Group results for the six months ended 31 December 2021. As such, it does not contain full or complete details pertaining to the Group’s results. Any investment decisions should be based on consideration of the full announcement as published on SENS on 9 March 2022 and on the Group’s website at www.putprop.co.za. The full announcement is also available for inspection at the registered offices of Putprop and that of our sponsors, Merchantec Capital during business hours. Copies may also be obtained at no cost on request from the Company Secretary, who is contactable on +27 11 325 6363 or putprop@acorim.co.za. The full announcement can also be accessed online at https://senspdf.jse.co.za/documents/2022/jse/isse/ppr/interim22.pdf The short form announcement is the responsibility of the directors. CORPORATE INFORMATION Registered and Postal Address: Putprop House, 22 Impala Road, Chislehurston, Sandton, 2196 Company Secretary: Acorim Proprietary Limited, 13th Floor, Illovo Point, 68 Melville Road, Illovo, Sandton, 2196 Sponsor: Merchantec Capital, 13th Floor, Illovo Point, 68 Melville Road, Illovo, Sandton, 2196 Transfer Secretaries: Computershare Investor Services Proprietary Limited Rosebank Towers 15 Biermann Avenue, 2196 Rosebank, Johannesburg, 2196 P O Box 61051, Marshalltown, 2107 Directors: Bruno Carleo (Chief Executive Officer), James Smith# (Chief Financial Director), Daniele Torricelli*^ (Chairman), Hayden Hartley*^, Gerrit Van Heerden *^, Anna Carleo (Executive), René Styber*^ * Independent ^ Non-executive #British Date: 09-03-2022 04:02:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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