(Registered in Malta)
                                                       (Registration number: C 100848)
                                 ISIN: MU0461N00015 | Share code: LTE | LEI: 549300UG27SWRF0X2U62
                                               (“Lighthouse” or the “Company” or the “Group”)



                UNAUDITED CONSOLIDATED INTERIM RESULTS
                                                        for the six months ended 30 June 2023

Lighthouse is domiciled in Malta and is listed on the Main Board of the Johannesburg Stock Exchange Limited (“JSE”). The Group
invests directly and indirectly in dominant and defensive malls located in large and mid-sized cities with strong economic
fundamentals.

Lighthouse achieved 0,62 EUR cents of distributable earnings per share for 1H2023.

The Lighthouse Board has declared an interim dividend of 1,350 EUR cents per share for 1H2023 payable in cash. This represents
a 16,9% decrease compared to the 1,625 EUR cents per share for 1H2022. As previously communicated, the dividend for this
period has been supplemented from retained earnings. The payout ratio for 1H2023 is 218,2%.

Shareholders will have the option to elect a scrip distribution instead of a cash dividend. A circular in this regard will be released
in due course.

                                                                                                       Unaudited            Unaudited
                                                                                                           for the              for the
                                                                                                      six months           six months
                                                                                                           ended                ended
                                                                                                        Jun 2023             Jun 2022            Movement

Total revenue (EUR)                                                                                   41 956 820           35 246 982             6 709 838
Basic and diluted earnings per share (EUR cents)                                                               1,21                 0,72                 0,49
Headline earnings/(loss) and diluted headline earnings/(loss) per share
(EUR cents)                                                                                                    0,48                 0,78                 (0,30)
Interim dividend/distribution (EUR cents per share)                                                          1,350                1,625                (0,275)
Management accounts information:
Net asset value per share (EUR cents)                                                                        40,40                36,43                  3,97
Loan-to-value (%)#                                                                                           21,77                31,52                  (9,75)
#
    T
     he loan-to-value ratio is calculated by dividing the management account values of gross interest-bearing borrowings, adjusted for the fair value of interest
    rate derivatives, restricted cash, and cash and cash equivalents; by the total of investments in property, listed securities at fair value, and investment in
    associate at fair value.


OUTLOOK
The first half of 2023 has seen a rapid reduction in inflation and an improved economic outlook in Europe. Best-in-class malls
continue to outperform and have comfortably achieved inflationary growth in income through indexation.

Lighthouse previously provided guidance of 2,8 EUR cents per share for FY2023. The guidance was provided on the basis
that Hammerson would distribute a minimum of 85% of its adjusted earnings for 1H2023 in line with industry best practice.
Hammerson has announced a cash dividend of 65% of its adjusted earnings.

Consequently, the Lighthouse Board revises its guidance for FY2023 from 2,8 EUR cents per share to 2,7 EUR cents per share,
substantially utilising the remaining distributable retained earnings.

The guidance is based on the following assumptions:
• No material change in the current macroeconomic environment
• No additional material tenant receiverships or defaults
• No further acquisitions or disposals of investment properties or listed investments

This forecast statement and the forecasts underlying such statement are the responsibility of the Board and have not been
reviewed or reported on by the Company’s external auditor.

This announcement is the responsibility of the directors and is only a summary of the information in the full announcement
and does not include full or complete details. The full announcement was released on SENS on 14 August 2023
and can be accessed by visiting the Company’s website at https://www.lighthouse.mt/financials/ or by following this
hyperlink: https://senspdf.jse.co.za/documents/2023/jse/isse/LTEE/FY1H2023.pdf

The full announcement is available for inspection at the registered offices of the Company or its JSE sponsor, at no charge, during
office hours from Tuesday, 15 August 2023 to Tuesday, 22 August 2023. Any investment decision should be based on the full
announcement published on SENS and available on the Company’s website.

By order of the Board
14 August 2023
                                                                                                                                www.lighthouse.mt
Directors: Mark Olivier (Chairperson); Stuart Bird; Karen Bodenstein; Desmond de Beer (Alternate: Nicolaas Hanekom); Anthony Doublet; Stephen Paris;
Justin Muller (CEO)*; Edward Mc Donald (COO)*; Jacobus van Biljon (CFO)* (* Executive director)
Registered address: 4th Floor, Office 41, Block A, IL-Piazzetta, Tower Road, Sliema, SLM 1605, Malta
Transfer secretary in South Africa: JSE Investor Services Proprietary Limited
JSE sponsor: Java Capital, 6th Floor, 1 Park Lane, Wierda Valley, Sandton, 2196
Maltese management company and company secretary: Stonehage Fleming Malta Limited