Lighthouse Capital Limited (JSE:LTE) News - Voluntary market update

LIGHTHOUSE PROPERTIES p.l.c.
(Formerly Lighthouse Capital Limited)
(Incorporated in Malta)
(Registration number: C 100848)
JSE share code: LTE
ISIN: MU0461N00015
LEI: 549300UG27SWRF0X2U62
("Lighthouse" or the "Company")


VOLUNTARY MARKET UPDATE


In anticipation of Lighthouse's results for the six months ended 30 June 2022, the following pre-close update
is provided.

TRADING PERFORMANCE

During the months of April and May 2022, the turnovers in Lighthouse's portfolio exceeded the 2019 pre-
COVID turnovers by 5,1%. This is a strong recovery from the -6,1% for 1Q2022 which was impacted by
COVID-19.
                                                                                             2022 vs 2019* turnovers
                                                                                         Q1                 April and May 2022
 Iberia                                                                               -1,1%                      12,7%
 France                                                                              -14,7%                      -8,1%
 Slovenia                                                                              0,4%                      14,9%
 Total                                                                                -6,1%                       5,1%

* In instances where a mall was not owned by Lighthouse in 2019, the change in turnover is calculated utilising the turnovers recorded by the vendors
of the respective properties.

Torrecardenas, acquired in March 2022, was a strong contributor to Iberia's performance. The performance
of this mall is off a low base as the mall was completed in 4Q2018.

Despite the disruptions caused by redevelopment and extensions of the French Portfolio, turnovers continued
to improve from 1Q2022 levels.

Planet Koper in Slovenia has had a strong recovery during 2022 driven by the return of tourism to the region.

COLLECTIONS

Collections for 1Q2022 are currently at 92,7% of total billing.

VACANCIES

Lighthouse's pro rata share of the vacancy in the portfolio was 5,2% at May 2022. The marginal increase in
vacancy from 5,1% at December 2021 is mainly due to tenant relocations and the resizing of stores at Saint
Sever to accommodate the mall’s extension and redevelopment.

PROJECTS

The refurbishment of Forum Coimbra is anticipated to be completed by 3Q2022.

The extension and redevelopment of Saint Sever is on schedule to give Primark beneficial occupation by
January 2023. Advanced negotiations are underway with key international retailers to occupy the vacant
GLA in the mall.

Lidl has taken beneficial occupation at Docks Vauban and is scheduled to open in 4Q2022.

Biltoki has taken beneficial occupation at Docks 76 and is scheduled to open in 4Q2022.

PORTFOLIO VALUATION

Jones Lang LaSalle, Savills and CBRE are valuing the property portfolio at 30 June 2022.

Shareholders are advised that the financial information contained in this update has not been reviewed or
reported on by the Company's auditors.


30 June 2022

                   JSE sponsor                                         Company Secretary
                  Java Capital                                         Stonehage Fleming
                                                     Maitland Malta is a member of the Stonehage Fleming Group of
                                                                           Companies
               Tel: +27 11 722 3050                                   Tel: +356 2144 6377

Date: 30-06-2022 05:00:00
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