Castleview Property Fund Limited (JSE:CVW) News - Unaudited condensed consolidated interim financial statements for the six months ended 31 August 2021

CASTLEVIEW PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2017/290413/06)
JSE share code: CVW
ISIN: ZAE000251633
(Approved as a REIT by the JSE)
(“Castleview”)


SHORT-FORM: UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 31 AUGUST 2021


                                          31 August 2021             31 August 2020            % change
Revenue                                       27 903 754                 21 042 191              32.61%
Headline earnings per share                        21.17                       7.63                177%
Earnings per share                                 44.75                    (51.39)                187%
Dividend per share                                     -                          -                   -
Net asset value per share                         454.44                        449               1.21%

Castleview is a property holding and investment company that is invested in two well-located shopping centres, namely:
Pier 14 Shopping Centre in Govan Mbeki Road, Gqeberha (Port Elizabeth), which is defined as a small regional
shopping centre with 29 690m2 of rentable space and is anchored by large national tenants such as Shoprite, Pep,
Ackermans and Mr Price, and, secondly, Cravenby Shoprite, which is a convenience shopping centre of 3,301m2,
located in Goodwod, Cape Town, anchor tenanted by Shoprite.

The six-month period under review was entirely impacted by the COVID-19 pandemic: beginning on Alert Level 1 in
March 2021, back up to Alert Level 3 in June and up to Level 4 at the end of June as the third-wave gripped the country,
moving back down to Alert level 3 at the end of July. Although conditions remained tough, they were easier to deal with
when compared to the lockdowns in the April, May and June of 2020, as the government learnt which restrictions
worked best and the national vaccination rate began to increase.

Castleview will continue to focus on a disciplined approach to the management of its existing asset and the growth of the
portfolio in order to return growth in capital and income to shareholders. Barring any further significant increase in the
level of Covid-19 infections in South Africa and a resultant increase in the level of lockdown from the current Alert
Level 1, it is expected that distributable income per share is expected to grow in the 12-months to 28 February 2022
when compared to distributable income per share for the 12-months to 28 February 2021. This forecast is the
responsibility of the directors of Castleview and has not been reviewed or reported on by the company's external
auditors.

The board has resolved not to declare an interim distribution for the 6 months ended 31 August 2021.

This short-form announcement is the responsibility of the board of directors of Castleview. This short-form
announcement is a summary of the full announcement released on SENS and published on the company's website:
https://castleview.co.za/investors/ on 3 November 2021 and does not contain full or complete details. Any investment
decision by investors and/or shareholders should be based on consideration of the full announcement.

The full announcement is available on:
- the JSE website at: https://senspdf.jse.co.za/documents/2021/JSE/isse/CVWE/HY2021.pdf; and
- Castleview's website at: https://castleview.co.za/investors/

Copies of the full announcement may be requested, by emailing Colin Dockrall at colin@castleview.co.za.

3 November 2021


Designated advisor
Java Capital

Date: 03-11-2021 04:30:00
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