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

CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2022 AND
PROPOSED DIVIDEND

The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A. for the year ended
31 March 2022.



 Key financial data
 •           Reinet’s net asset value of € 5.9 billion reflects a compound growth rate of 9.7 per cent per annum in euro terms,
             since March 2009, including dividends paid

 •           The net asset value at 31 March 2022 reflects an increase of € 506 million or 9.4 per cent from € 5 384 million at
             31 March 2021

 •           Net asset value per share at 31 March 2022: € 31.99 (31 March 2021: € 29.21)

 •           Fifth share buyback programme: 174 021 ordinary shares repurchased as at 31 March 2022 for a consideration of
             some € 3.5 million

 •           Commitments totalling € 343 million in respect of new and existing investments were made during the year, and a
             total of € 248 million funded

 •           Dividends from British American Tobacco during the year amounted to € 128 million

 •           Borrowings restructured during the year, significantly reducing the level of debt

 •           Reinet dividend of some € 46 million, or € 0.25 per share (excluding treasury shares), paid during the year

 •           Proposed Reinet dividend of € 0.28 per share payable after the 2022 annual general meeting, increase of 12% over
             prior year (September 2021: € 0.25 per share)




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 year ended 31 March 2022 available on
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/RNIE/RMS31Mar.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
                                                             31 May 2022
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
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