Putprop : Trading Statement

PUTPROP LIMITED

Incorporated in the Republic of South Africa (Registration number 1988/001085/06)

Share code: PPR ISIN: ZAE000072310

("Putprop" or "the Company")

TRADING STATEMENT

In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by more than 20% from that of the previous corresponding period.

Accordingly, a review of the financial results for the six months ended 31 December 2021 by management has indicated that:

• the earnings per share ("EPS") is expected to be between 20.27 cents and 31.99 cents, reflecting a decrease of between 45.44% and 65.44% compared to the EPS of 58.64 cents for the six months ended 31 December 2020; and
• the headline earnings per share ("HEPS") is expected to be between 39.65 cents and 46.83 cents, reflecting an increase of between 10.55% and 30.55% compared to the HEPS of 35.87 cents for the six months ended 31 December 2020.

EPS is lower in the current reporting period compared to the prior corresponding reporting period due to the following "once off" accounting adjustments:

• Material deferred rentals from earlier periods being accounted for in the six months to December 2020; and
• Straight line income adjustments write backs reflected in fair value adjustments due to the renegotiation of a major tenant lease adjusted in the December 2020 results.

The financial information on which this trading statement is based has not been reviewed or reported on by the Company's auditors. Putprop's financial results are expected to be released on SENS on or about 9 March 2022.

Johannesburg

3 March 2022

Sponsor

Merchantec Capital