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

MANAGEMENT STATEMENT FOR THE THIRD QUARTER ENDED 31 DECEMBER 2023

The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A. for the quarter ended
31 December 2023.



 Key financial data
 •           Reinet’s net asset value of € 5 733 million 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 31 December 2023 reflects an increase of € 117 million or 2.1 per cent
             from € 5 616 million at 30 September 2023

 •           Net asset value per share at 31 December 2023: € 31.54 (30 September 2023: € 30.89,
             31 December 2022: € 31.88)
 •           Commitments totalling € 6 million in respect of new and existing investments were made
             during the quarter, with a total of € 50 million funded

 •           Dividends from British American Tobacco during the period amounted to € 32 million




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 third quarter ended 31 December 2023
available on https://senspdf.jse.co.za/documents/2024/JSE/ISSE/RNIE/RMS31Dec.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
                                                          23 January 2024



Reinet Investments S.C.A. (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., 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.




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