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Unaudited consolidated interim financial results for the six months ended 31 August 2026, confirmation of guidance and declaration of dividend
Exemplar REITail Limited
(Incorporated in the Republic of South Africa)
Registration number: 2018/022591/06
JSE share code: EXP
ISIN: ZAE000257549
LEI: 3789000558287E37F130
Approved as a REIT by the JSE
("Exemplar" or "the Company")
UNAUDITED CONSOLIDATED INTERIM FINANCIAL RESULTS
For the six months ended 31 August 2026, confirmation of guidance and declaration of dividend
NATURE OF BUSINESS
Exemplar is a listed Real Estate Investment Trust ("REIT") whose core focus is the provision and management of retail services to previously under-serviced regions across
six provinces of South Africa. There are currently 31 retail assets in the portfolio with a combined GLA of 501,606m2.
KEY FINANCIAL INFORMATION
Unaudited Unaudited Audited
for the for the for the twelve
six months six months months
ended ended ended
Metric 31 August 2026 31 August 2025 Change % 28 February 2026
Revenue (R'000) 847,262 744,596 13.8% 1,523,910
Net property income before
fair value adjustments
(R'000) 533,886 472,296 13.0% 977,988
Net property income before
fair value adjustments and
operating lease equalisation
(R'000) 527,224 464,677 13.5% 964,898
Basic earnings
per share (cents) 175.58 126.24 39.1% 424.10
Headline earnings
per share (cents) 68.39 73.46 (6.9%) 153.41
Diluted earnings
per share (cents) 169.74 123.15 37.8% 413.79
Diluted headline earnings
per share (cents) 66.11 71.66 (7.7%) 149.68
Net asset value
per share (Rand) 19.75 17.07 15.7% 19.25
Interim dividend
per share (cents) 90.58305 84.92758 6.7% 84.92758
Final dividend
per share (cents) N/A N/A N/A 75.61427
Return of contributed
tax capital (cents) N/A N/A N/A 16.30868
CONFIRMATION OF GUIDANCE
The Company confirms the guidance published on 26 March 2026 and still expects an increase in Distribution Per Share ("DPS") for FY2027 of between 9% and 11% when
compared to DPS for FY2026.
DECLARATION OF DIVIDEND FOR THE SIX MONTHS ENDED 31 AUGUST 2026
Exemplar has declared an interim dividend of 90.58305 cents per share (cps) for the six months ended 31 August 2026, an increase of 6.7% on the corresponding period.
The dividend will be paid to shareholders in accordance with the timetable set out below:
Last date to trade cum dividend Tuesday, 24 November 2026
Shares trade ex dividend Wednesday, 25 November 2026
Record date Friday, 27 November 2026
Payment date Monday, 30 November 2026
Share certificates may not be dematerialised or rematerialised between Wednesday, 25 November 2026 and Friday, 27 November 2026, both days inclusive. The dividend will be transferred to
dematerialised shareholders' Central Securities Depository Participant ("CSDP")/broker accounts on Monday, 30 November 2026. Certificated shareholders' dividend payments will be paid to
certificated shareholders' bank accounts on or about Monday, 30 November 2026.
In accordance with Exemplar's status as a REIT, shareholders are advised that the dividend meets the requirements of a "qualifying distribution" for the purposes of section 25BB of the
Income Tax Act, No. 58 of 1962 ("Income Tax Act"). The dividend on the shares will be deemed to be a dividend, for South African tax purposes, in terms of section 25BB of the Income Tax
Act. The dividend received by or accrued to South African tax residents must be included in the gross income of such shareholders and will not be exempt from income tax (in terms of the
exclusion to the general dividend exemption, contained in paragraph (aa) of section 10(1)(k)(i) of the Income Tax Act) because it is a dividend distributed by a REIT. This dividend is,
however, exempt from dividend withholding tax in the hands of South African tax resident shareholders, provided that such shareholders provide the following forms to their CSDP or
broker, as the case may be, in respect of uncertificated shares, or the Company, in respect of certificated shares:
a) a declaration that the dividend is exempt from dividends tax, and
b) a written undertaking to inform the CSDP, broker or the Company, as the case may be, should the circumstances affecting the exemption change or the beneficial owner ceases to
be the beneficial owner,
both in the form prescribed by the Commissioner for the South African Revenue Service. Shareholders are advised to contact their CSDP, broker or the Company, as the case may be, to
arrange for the abovementioned documents to be submitted prior to payment of the dividend, if such documents have not already been submitted.
Dividends received by non-resident shareholders will not be taxable as income and instead will be treated as an ordinary dividend which is exempt from income tax in terms of the general
dividend exemption in section 10(1)(k)(i) of the Income Tax Act. Any distribution received by a non-resident from a REIT will be subject to dividend withholding tax at 20%, unless the
rate is reduced in terms of any applicable agreement for the avoidance of double taxation ("DTA") between South Africa and the country of residence of the shareholder. Assuming the
dividend withholding tax will be withheld at a rate of 20%, the net dividend amount due to non-resident shareholders is 72.46644 cps. A reduced dividend withholding rate in terms of the
applicable DTA may only be relied on if the non-resident shareholder has provided the following forms to their CSDP or broker, as the case may be, in respect of uncertificated shares, or
the Company, in respect of certificated shares:
a) declaration that the dividend is subject to a reduced rate as a result of the application of a DTA, and
b) a written undertaking to inform their CSDP, broker or the Company, as the case may be, should the circumstances affecting the reduced rate
change or the beneficial owner ceases to be the beneficial owner, both in the form prescribed by the Commissioner for the South African Revenue Service.
Non-resident shareholders are advised to contact their CSDP, broker or the Company, as the case may be, to arrange for the abovementioned documents to be submitted prior to payment of
the dividend if such documents have not already been submitted, if applicable.
Shares in issue at the date of dividend declaration: 348 072 858
Exemplar income tax reference number: 9727063175
SHORT FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the Board of Directors. It is a summary of the full announcement released on SENS on 2 November 2026 and does not
contain all the details of the full announcement. Any investment decisions made by investors and/or shareholders should be based on consideration of the full announcement.
The full announcement can be accessed using the following JSE link: https://senspdf.jse.co.za/documents/2026/jse/isse/expe/HY2027.pdf as well as via Exemplar's website
(http://www.exemplarreit.co.za).
The full announcement is available for inspection at the registered office of the Company (204 Von Willich Avenue, Clubview, Centurion, 0157) and the office of the sponsor,
Java Capital (6th Floor, 1 Park Lane, Wierda Valley, Sandton, 2196) at no charge during normal business hours from Monday, 2 November 2026 to Thursday, 12 November 2026.
This short form announcement has not been audited or reviewed by Exemplar's external auditors.
For and on behalf of the Board
2 November 2026
Executive directors Jason McCormick (CEO), DA Church (CFO), John McCormick
Non-executive directors FM Berkeley (Chairman), PJ Katzenellenbogen (Lead independent director), GVC Azzopardi, N Mandindi, EP Maponya
Company Secretary A Booysen
Registered Office 204 Von Willich Avenue, Clubview, Centurion, 0157, PO Box 12169, Clubview, 0014
Transfer Secretaries Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196,
PO Box 61051, Marshalltown, 2107
Auditor PKF Johannesburg Inc
Sponsor Java Capital
Date: 02/11/2026 09:00:00
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