GROWTHPOINT PROPERTIES LIMITED - Voluntary update Moodys Investor Service (Moodys) and Fitch Ratings (Fitch) annual rating updates

Voluntary update – Moody’s Investor Service (“Moody’s”) and Fitch Ratings (“Fitch”) annual rating updates

GROWTHPOINT PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/004988/06
Bond issuer code: GRTI
("Growthpoint" or the "company")


Voluntary update – Moody's Investor Service ("Moody's") and Fitch Ratings ("Fitch") annual rating
updates

On 27 May 2026, Moody's Investor Services ("Moody's") also affirmed Growthpoint Properties Limited's
corporate family rating ("CFR") of Ba2, with a positive outlook, as well as upgraded the national scale long term
rating to Aaa (za) from Aa1.za.

Noteholders are referred to Moody's credit opinion (Growthpoint Properties Limited: Update following change in
outlook to positive) for any further information, available at www.moodys.com.

Noteholders are also informed that, on 18 May 2026, Fitch Ratings affirmed Growthpoint Properties Limited
Long-Term Foreign-Currency Issuer Default Rating ("IDR") at BB+ with a stable outlook as well as the national
scale long term rating at AAA (zaf).

Fitch has advised the rating is supported by:

    1. Growthpoint's R63.6 billion (30 June 2025) portfolio of office, retail and industrial assets located in RSA's
       largest cities;

    2. Rental income being supplemented by dividends from RSA subsidiaries, including management fees and
       dividends from capital light funds; and

    3. International real estate investments that generate hard-currency inflows that can service foreign
       currency denominated debt.

Noteholders are referred to the press release by Fitch Ratings (Fitch Affirms Growthpoint at 'BB+'; Outlook
Stable) for any further information, available at www.fitchratings.com.



29 May 2026

Debt Sponsor
Investec Bank Limited

Date: 29-05-2026 10:46:00
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