Balwin Properties Limited (Incorporated in the Republic of South Africa) (Registration number:2003/028851/06) Share code: BWN ISIN: ZAE000209532 (“Balwin” or “the group” of “the company”)) Audited abridged results for the year ended 28 February 2023 and cash dividend declaration FINANCIAL HIGHLIGHTS Revenue Increase of 6% to R3.3 billion Profit for the year Increase of 20% to R437.4 million Earnings per share Increase of 21% to 93.74 cents per share Headline earnings per share Increase of 21% to 91.49 cents per share Net asset value per share Increase of 10% to 824.38 cents per share Balwin is South Africa’s leading national residential property developer of large-scale, sectional title estates with a focus on high quality, environmentally efficient, affordable apartments with an innovative lifestyle offering for residents. Home buyers continued to support Balwin’s unique product offering, with another pleasing performance for the year, despite challenging macroeconomic conditions experienced in the year, characterised by rising interest rates, inflationary increases, prolonged stages of load- shedding and increasing financial pressures on consumers. The Group increased revenue by 6% to R 3.3 billion (2022: R3.1 billion) despite a 6% reduction in the number of apartments recognised in revenue in the year. The construction of quality apartments in secure estates with modern lifestyle facilities continued to be a key differentiator in the South African residential property market with 2 788 apartments handed over to clients in the reporting period (2022: 2 962 apartments). Group profit increased by 20% to R437.4 million in the current year (2022: R363.1 million). The Group’s gross profit margin also showed further improvement, increasing to 29% (2022: 27%). The improvement in gross profit margin is a pleasing achievement, particularly on the back of high cost increases experienced in the construction industry during the year. Through focus on capital allocation, the group reported a healthy cash position of R607.4 million at year end. Including restricted cash, the group grew total cash by R105.0 million over the year. Cash generated from operations by the group amounted to R245.2 million for the period, a strong performance on a key strategic item. The positive operational cash flows were achieved based upon the group’s profitability and the discipline of timely registrations of apartments. The group’s loan-to-value ratio has remained consistent at 40.7% (2022: 40.5%). DIVIDEND Notice is hereby given that the board has declared a final gross dividend of 14.1 cents per ordinary share (2022: 13.5 cents). The dividend is payable out of income reserves for the period ended 28 February 2023 to ordinary shareholders in accordance with the timetable below: Declared Monday, 22 May 2023 Last day to trade (cum dividend) Tuesday, 20 June 2023 Shares trade ex-dividend Wednesday, 21 June 2023 Record date Friday, 23 June 2023 Payment date Monday, 26 June 2023 Dividend tax amounting to 2.82 cents per ordinary share will be withheld in terms of the Income Tax Act. Ordinary shareholders who are not exempt from dividends tax will therefore receive a dividend of 11.28000 cents net of dividends tax. The company has 519 411 852 ordinary shares in issue. Balwin’s income tax reference number is 9058216848. Share certificates may not be dematerialised or rematerialised between Wednesday, 21 June 2023 and Friday, 23 June 2023, both days inclusive. SHORT-FORM ANNOUNCEMENT This short-form announcement is the responsibility of the board of directors of Balwin. It contains a summary of the information in the full announcement and does not contain full or complete details. The full announcement can be found at: https://senspdf.jse.co.za/documents/2023/jse/isse/BWNE/FY23.pdf Copies of the full announcement, which includes the unmodified audit report and key audit matters, are available for viewing on the group’s website at www.balwin.co.za/balwin- corporate/investor-relations/financial-results/full-year-results/ or may be requested in person at the group’s registered office or the office of the sponsor, Investec Bank Limited, 100 Grayston Drive, Sandown, at no charge, during office hours. Any investment decisions by shareholders should be based on consideration of the full announcement. The financial information contained in this announcement has not been reviewed or reported on by the company’s external auditor. 22 May 2023 Sponsor Investec Bank Limited