Resilient REIT Limited (JSE:RES) News - Pre-close update and notification of an intragroup acquisition of shares RESILIENT REIT LIMITED Incorporated in the Republic of South Africa Registration number: 2002/016851/06 JSE share code: RES ISIN: ZAE000209557 Bond company code: BIRPIF LEI: 378900F37FF47D486C58 (Approved as a REIT by the JSE) ("Resilient" or the "Company") PRE-CLOSE UPDATE AND NOTIFICATION OF AN INTRAGROUP ACQUISITION OF SHARES In anticipation of Resilient's results for the six months ended June 2022, the following pre-close update is provided. The financial information on which this update is based has not been reviewed or reported on by the Company's external auditors. SOUTH AFRICA TRADING PERFORMANCE The portfolio continues to perform well with comparable sales growth of +9,7% for the five months ended May 2022. RENEWALS AND NEW LEASES Expiring leases with tenants that remained in occupation were renewed on average at +1,6% compared to the expiring rentals. Negative reversions were agreed on a number of expiring leisure-related tenants, including restaurants and entertainment centres. Leases concluded with new tenants were on average 7,7% higher than the rentals of the outgoing tenants. In total, rentals for renewals and new leases increased on average by 2,8%. VACANCIES Resilient's pro rata share of the vacancy in the portfolio is 2,0%. This includes space held vacant to accommodate the three new grocery stores. SUSTAINABILITY The solar installations at Irene Village Mall and Tubatse Crossing were commissioned on schedule and are performing in line with projections. Eight new installations as well as the additional installations at Mams Mall and Tzaneng Mall are under construction and are projected to be commissioned by year-end. FRANCE The construction works to accommodate Primark at Saint Sever and Lidl at Docks Vauban are progressing on schedule and within budget. Biltoki has taken occupation at Docks 76. Tenant interest for stores that were vacant when the portfolio was acquired is encouraging. INTRAGROUP ACQUISITION OF SHARES In terms of paragraph 3.95 of the JSE Listings Requirements, shareholders are advised that the Company acquired 9 000 000 Resilient shares from its wholly-owned subsidiary, Resilient Properties Proprietary Limited ("Propco"). The shares were acquired at a price of R53,60 per share on 30 June 2022. The shares will revert to authorised but unissued share capital of the Company on settlement of the transaction and an application to delist the 9 000 000 Resilient shares will be made in due course. Following this transaction, Propco holds 30 156 041 shares in the Company. 30 June 2022 Sponsor Debt Sponsor Java Capital Rand Merchant Bank (a division of First Rand Bank Limited) Date: 30-06-2022 03:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.