Reinet Investments S.C.A.
(Incorporated in Luxembourg)
ISIN: LU0383812293
Legal Entity Identifier : 222100830RQTFVV22S80
Code: RNI
(‘the Company’)

CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE SIX-MONTH PERIOD ENDED
30 SEPTEMBER 2023

The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A. for the six-month
period ended 30 September 2023.



 Key financial data
 • Reinet’s net asset value of € 5.6 billion reflects a compound growth rate of 8.5 per cent per annum in euro terms, since
   March 2009, including dividends paid

 • The net asset value at 30 September 2023 reflects a decrease of € 104 million or 1.8 per cent from € 5 720 million at
   31 March 2023

 • Net asset value per share at 30 September 2023: € 30.89 (31 March 2023: € 31.46, 30 September 2022: € 29.93)

 • Commitments totalling € 39 million in respect of new and existing investments were made during the period, with total of
   € 51 million funded

 • Dividends from British American Tobacco during the period amounted to € 65 million

 • Inaugural dividend of some € 57 million received from Pension Insurance Corporation Group Limited

 • Reinet dividend of € 0.30 per share, amounting to some € 55 million (excluding treasury shares), paid during the period




This short form announcement is published under the responsibility of the Board of Reinet Investments Manager S.A. and is a summary
of the information in the detailed management statement for the six-month period ended 30 September 2023 available on
https://senspdf.jse.co.za/documents/2023/JSE/ISSE/RNIE/RMS30Sept.pdf and on the Company’s website www.reinet.com/investor-
relations/company-announcements.html. This announcement does not contain full details and should not be used as a basis for any
investment decision in relation to the Company’s shares. The full announcement is available for inspection, at no charge, at the Company’s
registered office (35, boulevard Prince Henri, L-1724 Luxembourg) and the office of the sponsor during standard office hours.

The financial data disclosed above relates to Reinet Investments S.C.A. and/or its shares:

                                         JSE share code: RNI                ISIN: LU0383812293
                                                               Sponsor
                                        Rand Merchant Bank (A division of FirstRand Bank Limited)
                                          Cnr Fredman Drive and Rivonia Road, Sandton, 2196
                                           Telephone: (011) 282 4613 Telefax: (011) 282 4184
                                                          15 November 2023
The Company is a partnership limited by shares incorporated in the Grand Duchy of Luxembourg and having its registered office at 35, boulevard Prince
Henri, L-1724 Luxembourg. It is governed by the Luxembourg law on securitisation and in this capacity allows its shareholders to participate indirectly in the
portfolio of assets held by its wholly-owned subsidiary Reinet Fund S.C.A., F.I.S. (‘Reinet Fund’), a specialised investment fund also incorporated in
Luxembourg. The Company’s ordinary shares are listed on the Luxembourg Stock Exchange, Euronext Amsterdam and the Johannesburg Stock Exchange,
the listing on the Johannesburg Stock Exchange is a secondary listing. The Company’s ordinary shares are included in the ‘LuxX’ index of the principal shares
traded on the Luxembourg Stock Exchange. The Company and Reinet Fund together with Reinet Fund’s subsidiaries are referred to as ‘Reinet’.




Reinet Investments S.C.A.
R.C.S. Luxembourg B 16.576
Legal Entity Identifier : 222100830RQTFVV22S80
Registered office: 35, Blvd Prince Henri, L-1724 Luxembourg, Telephone + 352 22 42 10, Telefax +352 22 72 53
Email: info@reinet.com, website: www.reinet.com