Hyprop Investments Limited · JSE:HYP
Hyprop Investments — Corporate Update (October 2025)
29 slides from Hyprop Investments's corporate update, October 2025
Slide 1: Pre-close Operational Update
Pre-close Operational Update Four months ended 31 October 2025
Slide 2: South Africa Operational performance
South Africa Operational performance CapeGate Western Cape, South Africa (Satellite offices rendering)
Slide 3: SA trading performance – 5 year trends
SA trading performance – 5 year trends 3 South Africa – 12 months ended October 3.8% 0.7% 5.2% 6.8% 9.3% 8.7% 8.5% 8.1% 0.0% - 15.0% Other metrics Effort ratio 0 - 100 8.3% 3.6% 8.9% 13.9% 5.4% 10.0% 4.8% 15.9% 8.0% 4.4% (0.6%) 2.5% 2020/2021 2021/2022 2022/2023 2023/2024 2024/2025 Vehicle count (m)
Slide 4: SA trading performance
SA trading performance 4 Historic statistics have been updated for the most recent information received Tenants’ turnover (R’m) Trading density (R/m2/month) 7.2% 8,00% 5.7% 7,00% 6,00% 10.6% 1 500 – 2 500 2 800 – 3 800 5,00% 9.2% 8.2% 4,00% 5.7% 3,00% 2,00% 5.8% 2.5% 1,00% 0,00% Jul Aug Sep Oct Jul
Slide 5: SA leasing activity
SA leasing activity 5 Reversions (% of area) Retail Office Total Rental reversions (weighted average based on GLA) Renewal reversion rate* 0.4% (2.5%) 0.2% * Relates to 7.0% of portfolio GLA 0 - 60 New deal reversion rate^ 32.8% 33.8% 32.9% ^ Relates to 2.3% of portfolio GLA Overall reversion rate#
Slide 6: Completed project: Hyde Park Corner
Completed project Hyde Park Corner Gauteng Checkers FreshX and Petshop Science
Slide 7: Completed project: CapeGate
Completed project CapeGate Western Cape Food court upgrade
Slide 8: Completed project: Clearwater Mall
Daily entrance foot count Clearwater Mall Walmart store Saturday 85 727 13 612 Sunday 43 018 5 652 Monday 30 893 6 310 Tuesday 37 537 5 790 Wednesday 36 133 5 115 Thursday 38 684 4 334 Completed project Clearwater Mall Gauteng First Walmart-branded store in Africa and bathroom upgrade
Slide 9: Completed project: Somerset Mall
Completed project Somerset Mall Western Cape Phase 2 expansion, affordable luxury and athleisure section, and retiling
Slide 10: Project in progress: Somerset Mall
Project in progress Somerset Mall Western Cape Phase 2 expansion, food court and bathroom upgrade
Slide 11: Project in progress: Canal Walk
Project in progress Canal Walk Cape Town Otter Bridge link to Century City
Slide 12: Our environmental impact
Our environmental impact 12 Energy Consumption/generation for the four months ended 31 October 2025 • Solar – 7 586 325 kWh • Generator – 192 521 kWh • Grid/Eskom – 48 534 343 kWh 13.5% of our total consumption is generated from solar Water 11 months ended 31 October 2025 • Reduced water consumption
Slide 13: Eastern Europe Operational performance
Eastern Europe Operational performance City Center one East Zagreb, Croatia
Slide 14: EE trading performance – 5 year trends
EE trading performance – 5 year trends 14 Eastern Europe – 12 months ended October 4.0% 10.4% 16.4% 13.3% 10.9% 0.0% - 20.0% Other Metrics 10.1% Effort ratio 0 – 70 000 9.9% 9.8% 11.6% 0.2% (2.5%) 11.6% 16.1% 8.1% 6.0% (0.8%) 7.1% 17.3% 8.6% 4.1% 2020/2021 2021/2022 2022/2023 2023/2024 2024/2025 Ann
Slide 15: EE trading performance
EE trading performance 15 Historic statistics have been updated for the most recent information received Tenants’ turnover (€’m) Trading density (€/m2/month) 7.3% 7.4% 0 – 400 0 - 80 2.4% 2.0% 2.0% 1.5% 0.5% 1.4% 0.8% 0.5% 1.4% Jul Aug Sep Oct Jul Aug Sep Oct Foot count (m) Vehicle count (‘000) 3 0.
Slide 16: EE leasing activity
EE leasing activity 16 Reversions (% of area) Retail Rental reversions (weighted average based on GLA) Renewal reversion rate* 1.7% * Relates to 7.8% of portfolio GLA 0 - 85 New deal reversion rate^ 13.5% ^ Relates to 0.6% of portfolio GLA Overall reversion rate# 2.6% # Relates to 8.4% of portfolio
Slide 17: Treasury update
Treasury update Woodlands Boulevard Gauteng, South Africa
Slide 18: Borrowings profile
Borrowings profile 18 Borrowings by lender (%) Borrowings by currency (%) 15 21 25 Standard Bank Group Nedbank 32 ZAR (bank) 9 RMB ZAR (DCM) ABSA ZAR (DCM – banks) 4 Erste Bank/Raiffeisenlandesbank EUR – equity debt DSK/OTP Bank EUR – in-country debt 15 Komercijalna Bank 25 10 DCM 10 4 18 12
Slide 19: LTV
LTV 19 LTV (%) 0 – 50 33.6 34.3 29.1 30.2 43.4 43.8 Group ZAR EUR 30 June 2025 31 October 2025 31 October 2025 LTV calculations have been updated for exchange rates and debt and cash balances, while asset values are the same as 30 June 2025.
Slide 20: Group borrowings maturity profile
Group borrowings maturity profile 20 Rand equivalent (R’m) 600 2 606 0 – 4 500 500 500 1 000 1 455 400 1 099 500 867 740 682 760 689 502 500 500 548 511 132 441 300 425 299 249 Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q1: Q2: Q1: 2025 2026 2026 2026 2026 2027 2027 2027 2027 2028 2
Slide 21: Interest rate profile
Interest rate profile 21 ZAR (%) 10.1 10.0 9.5 8.9 9.0 8.8 ZAR all-in hedged rate 9.4 9.3 8.8 ZAR floating rate + margin 4 - 11 8.4 8.4 8.4 7.8 3m Jibar 7.3 6.9 December June December June October 2023 2024 2024 2025 2025 EUR (%) 6.1 5.9 5.1 4.9 EUR all-in hedged rate 4.9 4.2 4.2 0–8 4.7 EUR floatin
Slide 22: Interest rate hedges
Interest rate hedges 22 Includes forward starting hedges ZAR (R’m) 8 369 6 150 0 – 9 000 3 950 2 050 Oct Dec Jun Dec Jun Dec Jun Dec 2025 2025 2026 2026 2027 2027 2028 2028 Swaps (R2 050m) Caps (R1 900) All hedges (incl. collars – R2 200m) Term borrowings EUR (€’m) 297 224 0 - 350 Oct Dec Jun Dec Ju
Slide 23: Looking ahead and progress to date
Looking ahead and progress to date 23 Creating spaces and connecting people Group South Africa Eastern Europe • FY2026 guidance • Commence installation of solar-PV at The Glen • Secure extension rights for Skopje City Mall - Increase in DIPS of 10 - 12% (3 295 kWp) and CapeGate (5 337 kWp) • Finalis
Slide 24: Somerset Mall Phase 3 expansion
Phase 2 In progress Phase 1 Completed Phase 3 Future project Somerset Mall Western Cape Phase 3 expansion
Slide 25: Future project: The Glen
Right-size Right-size Pick n Pay stores New line New line stores stores Future project The Glen Gauteng Master plan phase 1
Slide 26: Future project: CapeGate
Sold to MEDICLINIC Development Agreement on Leasehold basis: Giflo and SOM Future project CapeGate Western Cape Phase 1 retail extension and satellite offices
Slide 27: Future project: City Center one East
Future project City Center one East Zagreb, Croatia 14 000m2 expansion
Slide 28: Q & A
Q&A Table Bay Mall Western Cape, South Africa
Slide 29: Investor Relations
Investor Relations Boitumelo Nkambule - boitumelo@hyprop.co.za