for the period ended 30 September

2018

INTERIM Results

Citi Bank, Sandton

At a glance 1

Update on key priorities 3

The Fourways super regional development 4

Balance sheet optimisation 7

Extracting value 9

Financial results 12

Key indicators 16

Letting and arrears 18

Capital structure 21

European retail 23

Horizon 26

Property portfolio summary 29

TABLE OF Contents

At a

at a glance

Update on key

The

development

Update

•››››

•›

››

•››

•››››››››››

•›

Update

Optimisation

•›

•••

••••

optimisation

Value

••••

•›

›

›

›

›

•› ²

›

›

•›

•›

value

•

•

•

•

•

•

••••

••

equalisation

Results

statement

•›

statement

•›

•›

•›

build-up

Indicators

indicators

and

Lease expiry

profile

Structure

Long-term

RetailRetail

•

•

•

•

•

performance

•

•

•

•

•

•

•

•

•

•

update

Horizon

opportunities

Catalysts

Summary

1

summary

profile

Thank you

Notes

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