FAIRVEST LIMITED - Acquisition of various properties

Acquisition of various properties

Fairvest Limited
(Incorporated in the Republic of South Africa)
Registration number 2007/032604/06
JSE share code: FTA ISIN: ZAE000304788
JSE share code: FTB ISIN: ZAE000304796
LEI: 378900E93AFC4D1CAD45
(Granted REIT status with the JSE)
("Fairvest" or the "Group")


ACQUISITION OF VARIOUS PROPERTIES


1. INTRODUCTION

    Fairvest has concluded agreements with various parties to acquire five retail properties located in
    KwaZulu-Natal and the Western Cape. The total value of the acquisitions is R477.7 million with a
    blended yield of 9.81%.

    The acquisitions are consistent with the Group's strategy of investing in retail assets servicing the
    previously disadvantaged communities and located close to community centres and transport
    networks.

2. COLLINS PROPERTY GROUP LIMITED ACQUISITION

    Fairvest concluded agreements with subsidiaries of the Collins Property Group Limited, being
    Imbali Props 21 Proprietary Limited and Colkru Investments Proprietary Limited, to acquire three
    commuter-centric retail properties located across KwaZulu-Natal for a total purchase consideration
    of R208.7 million at a blended yield of 9.75%.

    Details of the properties:

     Property name          Location                       GLA        Purchase        Anchor tenants
                                                          (m2)       price (R)

     Nquthu Shopping        Nquthu, KwaZulu-Natal        4 895      66 600 000        Shoprite and
     Centre                                                                           Boxer
     Ulundi Shopping        Ulundi, KwaZulu-Natal        4 476      38 900 000        Shoprite
     Centre
     Eyethu Junction        Madadeni, KwaZulu-Natal      7 498     103 200 000        SuperSpar

                                                        16 959     208 700 000

    The acquisitions remain subject to various conditions precedent. Should these be fulfilled, transfer
    of the proprieties is expected to occur on or about 1 August 2025.

3. SHOPRITE MANGUZI ACQUISITION

    Fairvest concluded an agreement with Manguzi Shopping Centre Proprietary Limited ("Manguzi")
    to acquire all the shares and claims in Manguzi. Manguzi owns an 8 425m2 shopping centre in
    Manguzi (previously Kosi Bay) anchored by Shoprite. The total purchase consideration of the
    transaction is R136.0 million at a yield of 9.75%.

    The acquisition remains subject to various conditions precedent. Should these be fulfilled, transfer
    of the shares is expected to be on or about 1 August 2025.

4. THEMBALETHU ACQUISITION

    Fairvest, through a newly incorporated subsidiary Mzanzi Mall Thembalethu Proprietary Limited
    ("Mzanzi"), entered into an agreement with Bishops Court Properties Proprietary Limited to acquire
    Thembalethu Square for R133.0 million at a yield of 9.97%. Thembalethu Square is located outside
    George in the Western Cape, comprises 8 734m2 of gross lettable area and is anchored by Shoprite
    and Boxer. Fairvest owns 51% of the issued shares in Mzanzi.

    The acquisition is unconditional, and transfer is expected on or about 1 July 2025.

5. CATEGORISATION OF THE ACQUISTIONS

    These acquisitions are not categorisable in terms of the JSE Listings Requirements, and the
    disclosures provided in this announcement are voluntary and for information purposes only.

5 June 2025


Sponsor
Java Capital
Date: 05-06-2025 05:05:00
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