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Updated Trading Statement for the year ended 31 March 2026
ACCELERATE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 2005/015057/06)
JSE code: APF ISIN code: ZAE000185815
Bond company code: APFE
LEI: 378900D514788C447E45
(Listed in the General Segment)
(REIT status approved)
("Accelerate" or the "Company")
UPDATED TRADING STATEMENT FOR THE YEAR ENDED 31 MARCH 2026
Shareholders and noteholders are referred to the announcement released on SENS on 10 July 2026
regarding the Company's trading statement for the year ended 31 March 2026 ("Trading Statement").
Shareholders and noteholders are advised that the distributable earnings and distributable earnings per
shares as contained in the Trading Statement were determined pursuant to the application by the
Company of the second edition of the SA REIT Association's best practice recommendations. On
application of the third edition of the SA REIT Association's best practice recommendations, the
determination of the distributable earnings and distributable earnings per share for the year ended
31 March 2026 ("current reporting period") required adjustment, as a result of expected credit losses
no longer being added back in the determination of distributable income or distribution per share.
In light of the above, shareholders and noteholders are advised that, for the current reporting period,
the SA REIT Funds from Operations ("SA REIT FFO") amounts to R127,8 million (or 6,25 cents per share)
and after adjusting for company specific adjustments, which mostly include required capex, the
distributable earnings reduced to 0,09 cents per share, compared to the distributable loss for the year
ended 31 March 2025 ("FY2025") of R71.3 million (or a loss of 3,97 cents on a per share basis).
As mentioned in the Trading Statement, Accelerate will not be declaring a distribution for the current
reporting period, taking into consideration, among others, the working capital cash flow forecast,
expected working capital requirements and capital expenditure requirements. No distribution was
declared for FY2025.
The financial information contained in this announcement is the responsibility of the board of directors
of Accelerate and has not been reviewed or reported on by the Company's independent external
auditor.
Fourways
31 July 2026
Equity and Debt Sponsor
Questco Corporate Advisory
Date: 31-07-2026 12:24:00
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