COVID-19 update and revocation of the cash dividend for the six months ended 31 December 2019 EPP N.V. (Incorporated in The Netherlands) (Company number 64965945) JSE share code: EPP ISIN: NL0011983374 LEI Code: 7245003P7O9N5BN8C098 (“EPP” or “the Company”) COVID-19 UPDATE AND REVOCATION OF THE CASH DIVIDEND FOR THE SIX MONTHS ENDED 31 DECEMBER 2019 Shareholders are referred to the previous announcements released on SENS and published on the Luxembourg Stock Exchange (“LuxSE”) website on 16 March 2020, 23 March 2020 and 30 April 2020 wherein shareholders were advised that the board of directors of EPP (“Board”) had resolved to postpone the payment of the cash dividend of 5.82 euro cents per share for the six months ended 31 December 2019 (“dividend”) pending the continued assessment of the impact of COVID-19 on EPP’s operations and liquidity. Although the Polish Government lifted the trading restrictions on Polish shopping centers and retail outlets on 4 May 2020 and 71% of EPP’s retail GLA is once again operational, it remains premature to meaningfully establish the medium term impact of COVID-19 on EPP’s retail portfolio and consequent cashflows. EPP continues to engage constructively with its tenants, lenders and business partners on achieving mutually acceptable solutions during this challenging period and negotiations remain on-going in this regard. Given the uncertainty of future trading conditions and the difficulty in determining the impact of COVID-19 on EPP as a whole, the Board in the circumstances has decided to prioritise EPP’s sustainability, by adopting prudent precautionary measures to preserve capital and maintain liquidity. As a consequence, the Board has resolved in terms of Dutch corporate law, to revoke the declaration of the dividend. Accordingly, no distribution to shareholders will be paid for the six-month period ended 31 December 2019. The EUR 53 million which will be retained by EPP as a consequence of the revocation of the dividend will ensure that EPP remains well capitalised to meet its liquidity needs during this period of uncertainty. The Board will continue to monitor the impact of COVID-19 on the Company’s operations and its financial position and expects to be in a better position to provide a detailed update to shareholders towards the end of June 2020. 25 May 2020 JSE Sponsor Java Capital Luxembourg Stock Exchange Listing Agent Harneys Luxembourg For more information: Curwin Rittles, Investor Relations, EPP Mobile: +48 885 982 310 Curwin.rittles@epp-poland.com Java Capital, JSE Sponsor Phone: +27 11 722 3050 Harneys Luxembourg, Luxembourg Stock Exchange Listing Agent Phone: +352 27 86 71 02 Singular Systems IR Michèle Mackey / Jacques de Bie +27 (0)10 003 0700/+27 (0)82 497 9827 michele@singular.co.za / Jdebie@singular.co.za Date: 25-05-2020 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.