Balwin Properties Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/028851/06
Share code: BWN
ISIN: ZAE000209532
(“Balwin” or “the Group” or “the Company”)



DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND PRESCRIBED OFFICERS: VESTING OF LONG-
TERM INCENTIVE SHARES



In compliance with the JSE Listings Requirements, shareholders are advised of the vesting of bonus
shares to executive directors and prescribed officers of the Company. The bonus shares were issued
in terms of the Company’s conditional share plan (“CSP”) on 31 July 2019 as pertaining to the
financial year ended 28 February 2019. Details of the CSP are included in the Remuneration Report
as contained in the Group’s Integrated Annual Report.

In compliance with rules 3.63 to 3.66 of the JSE Listings Requirements, the following information is
disclosed:

(*) the disposal of shares is to settle tax obligations arising from the vested bonus shares.

Directors of Balwin Properties Limited

 Name of director:                       Stephen Volker Brookes
 Designation:                            Chief Executive Officer
 Name of associate:                      Volker Holdings Pty Limited
 Name of company:                        Balwin Properties Limited
 Date of vesting:                        30 June 2022
 Number of shares:                       615 355
 Deemed price:                           R2.55
 Total value:                            R1 570 632.84
 Nature of transaction:                  Off-market vesting of CSP awards
 Nature of interest:                     Indirect beneficial
 Clearance obtained:                     Yes

 Name of prescribed officer:             Rodney Norman Gray
 Designation:                            Managing Director
 Name of associate:                      Rodna Investments Pty Limited
 Name of company:                        Balwin Properties Limited
 Date of vesting:                        30 June 2022
 Number of shares:                       468 396
 Deemed price:                           R2.55
 Total value:                            R1 195 534.51
 Nature of transaction:                  Off-market vesting of CSP awards
 Nature of interest:                     Indirect beneficial
 Clearance obtained:                     Yes

 Name of prescribed officer:             Rodney Norman Gray
 Designation:                            Managing Director
 Name of company:                        Balwin Properties Limited
 Date of transaction:                    2 August 2022
 Number of shares:                       217 804
Weighted average price        R2.55
per share:
Price per share – high:       R2.70
Price per share – low:        R2.44
Total value:                  R555 923
Nature of transaction:        On-market disposal (*) of shares that have vested in
                              respect of the CSP for the 2019 financial year
Nature of interest:           Direct beneficial
Clearance obtained:           Yes

Name of director:             Jonathan Bigham
Designation:                  Chief Finance Officer
Name of company:              Balwin Properties Limited
Date of vesting:              30 June 2022
Number of shares:             46 667
Deemed price:                 R2.55
Total value:                  R119 112.91
Nature of transaction:        Off-market vesting of CSP awards accepted
Nature of interest:           Direct beneficial
Clearance obtained:           Yes

Name of prescribed officer:   Ulrich Gschnaidtner
Designation:                  Chief Projects Officer
Name of company:              Balwin Properties Limited
Date of vesting:              30 June 2022
Number of shares:             383 289
Deemed price:                 R2.55
Total value:                  R978 307.30
Nature of transaction:        Off-market vesting of CSP awards
Nature of interest:           Direct beneficial
Clearance obtained:           Yes

Name of prescribed officer:   Ulrich Gschnaidtner
Designation:                  Chief Projects Officer
Name of company:              Balwin Properties Limited
Date of transaction:          2 August 2022
Number of shares:             383 289
Weighted average price        R2.55
per share:
Price per share – high:       R2.70
Price per share – low:        R2.44
Total value:                  R978 307.30
Nature of transaction:        On-market disposal of shares that have vested in respect
                              of the CSP for the 2019 financial year

Corlett Drive
4 August 2022
Sponsor
Investec Bank Limited