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Emira Property Fund Limited (Incorporated in the Republic of South Africa) (Registration number 2014/130842/06) Company code: EMII LEI Number: 3789005E23C6259EAE70 (Approved as a REIT by the JSE) (‘Emira’ or the ‘Issuer’) NOTIFICATION OF A CHANGE TO EMIRA’S CREDIT RATING Global Credit Ratings (‘GCR‘) have, on 26 October 2023, affirmed the national scale long and short- term issuer ratings assigned to Emira at A(ZA) and A1(ZA) respectively, with a stable outlook maintained. GCR noted that the Senior Secured Notes long-term issue credit ratings have been downgraded to AA(ZA)(EL), from AA+(ZA)(EL); with the outlook revised form negative to stable. The stable outlook reflects expectations that Emira’s operating performance will remain sound, whilst the Issuer’s gearing will be managed down to levels commensurate with the rating level over the next 18 months. 27 October 2023 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
