2025 Highlights

	53.56 cents Final dividend
	123.01 cents Total dividend, up 4.1%
	8.3% and 8.0% Growth in rental income and net property operating income
	SA 10.2%; UK 6.5% Growth in same-store rental income
	SA 94.0%; UK 83.9% Total same-store occupancy
	16 000 m² GLA\| SA 14 300 m²; UK 1 700 m² Increase in portfolio occupancy
	R12.0 billion¹ \| up 6.0% Net investment property value
	31.3% Loan To Value (LTV) ratio, with net debt effectively hedged at 84.2%
	18 properties Development pipeline, 83 000m² GLA
	Three new properties Century City, Kramerville an Leyton (UK) opened during the year
	R71 million Third-party management fees, up 12.6%
	Hines Working with Hines on five development projects in the UK (one of the largest privately held real estate investors and managers globally)

¹Net of leasehold obligations and excludes properties held in JVs.