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CALGRO M3 HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2005/027663/06) JSE Share code: CGR ISIN: ZAE000109203 Company Alpha Code: CGRI1 LEI: 3789003B0859E9438F25 (“Calgro M3” or “the Company”) VOLUNTARY ANNOUNCEMENT REGARDING THE BANKENVELD DISTRICT CITY DEVELOPMENT Calgro M3 is pleased to announce the exercise of an option to take up a transformative project on the doorstep of Sandton, Africa's richest square mile and the economic heart of the country. On 1 March 2024, the joint venture partnership between Calgro M3 and Eris Property Group (“Eris”) formalised the acquisition of a strategic land parcel, marking the commencement of the ambitious Bankenveld District City development, poised to deliver between 20 000 to 30 000 housing units alongside significant commercial, retail, and industrial spaces. Approximately 34% of the land is dedicated to infrastructure, including roads, stormwater management, and extensive recreational and green belt areas, enhancing the quality of life for residents and the surrounding communities. In terms of the Calgro M3 and Eris joint venture agreement, both parties will share the cost of the infrastructure installation required for the development. Whereafter, Calgro M3 will be responsible for the residential components of the development, while Eris will handle the commercial, retail, industrial, educational and healthcare components for their own benefit. Bankenveld District City is a visionary project aimed at promoting socio-economic upliftment on an unprecedented scale. Strategically situated to bridge the gap between affordability and access to Sandton's economic hub, Bankenveld District City will be a testament to innovative planning and sustainable development. The project, with the potential of generating upwards of R18 billion in revenue, marks a significant milestone, more than doubling Calgro M3’s existing project pipeline. As at the release of the interim results for the period ended 31 August 2023, Calgro M3 had a property pipeline of R15.5 billion, consisting of 20 239 units. The Company was active across 8 projects and had 2 118 units under construction at the time. This financial injection is expected to support the Company’s correct valuation, reflecting the development's substantial value and impact on the communities Calgro M3 serves. Johannesburg 2 April 2024 Equity and Debt Sponsor PSG Capital
