Stor-age Property Reit Ltd. · JSE:SSS
Stor-age Property Reit — H1 FY2026 Earnings Presentation
86 slides from Stor-age Property Reit's earnings presentation, November 2025
Slide 1: FY26 Interim Results Presentation
STOR-AGE PROPERTY REIT FY26 INTERIM RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2025 STOR-AGE PROPERTY REIT LIMITED 1
Slide 2: Presentation Outline
PRESENTATION OUTLINE Page Introduction 4 Financial review 13 Strategy 26 Joint venture partnerships 29 Acquisitions and developments 33 Third-party management 43 Operations 45 Environmental, social and governance 48 Outlook 51 STOR-AGE PROPERTY REIT LIMITED 2
Slide 3: Annexures
ANNEXURES Page A: Key financial and operational highlights 53 B: Share price performance 54 C: Investment case 57 D: The market 59 E: Strategy and portfolio 62 F: SA property 67 G: UK property 71 H: Operations 73 I: Environmental, social and governance 83 STOR-AGE PROPERTY REIT LIMITED 3
Slide 4: Introduction
INTRODUCTION STOR-AGE PROPERTY REIT LIMITED 4
Slide 5: Highlights
HIGHLIGHTS Interim dividend of 59.74 cents per share, up 4.5% year-on-year (payout ratio of 90% of distributable income) Distributable income per share 66.37 cents per share, up 4.5% year-on-year Rental income and net property operating income up 8.7% and 7.4% respectively Same-store rental income u
Slide 6: November 2025 – A Successful Decade on the JSE
NOVEMBER 2025 – A SUCCESSFUL DECADE ON THE JSE Assuming R100 was invested on the date of listing in November 2015 and provided that the full pre-tax dividend was reinvested, an investment in SSS would be worth R360.88 at the end of October 2025. The same investment in the JSE All Share Index (ALSI)
Slide 7: Snapshot
SNAPSHOT Listing date November 2015 JSE sector Speciality REITs Profile Highly specialised, low risk, income paying self storage REIT Self storage 11 publicly traded self storage REITs universe (US: 5, UK: 2, EU: 1, Aus: 2, SA: 1) Market R8.145 billion1 capitalisation Total South Africa United Kingd
Slide 8: Overview – Granular and Stable
OVERVIEW – GRANULAR AND STABLE Properties Customers Markets Revenue 81 / 5% 56 000 + R13.6bn / 109 R694m / 20% With 81 properties classified 56 000 + customers across Portfolio value¹ R13.6 billion Property operating revenue as owned, no property is all demographics (SA 48%; UK 52%) and total of R69
Slide 9: Why Self Storage?
WHY SELF STORAGE? Resilient Diversified Stable cash Growth Attractive sector and customer and flows opportunity shareholder increasing asset base returns and demand diversification benefits • Needs-based • No material tenant • Attractive • Development • Self storage – sector and concentration risk o
Slide 10: Why Stor-Age?
WHY STOR-AGE? Experienced Diversified Flexible Operational Robust management and growing structure and excellence balance sheet team portfolio partnerships • Executive team • Consistent growth of • Executing growth • Highly sophisticated • GCR Ratings co-founded geographically diverse strategy throu
Slide 11: Flexible Ownership Structure
FLEXIBLE OWNERSHIP STRUCTURE Country Brand Wholly-owned 55 81 26 Joint venture 7 20 13 Managed 1 8 7 Total properties 63 109¹ 46 1. Excludes Lock Up Storage properties (Pinetown and New Germany) – acquired in October 2025 STOR-AGE PROPERTY REIT LIMITED 11
Slide 12: Committed to Sustainability
COMMITTED TO SUSTAINABILITY Social Environmental 12 75% Third year supporting 12 previously disadvantaged 75% of owned properties have solar PV systems installed learners in a 12-month learnership programme 230m² R95.8 million ‘Community investment’: Approximately 16 Investment in renewable energy t
Slide 13: Financial Review
FINANCIAL REVIEW STOR-AGE PROPERTY REIT LIMITED 13
Slide 14: Financial Metrics
FINANCIAL METRICS 59.74 8.7% SA 92.1% SA 10.6% SA cents 2.0% UK 85.2% UK -1.2% UK Distributable Achieved rental Closing Net property income per share rate growth occupancy operating income Up 4.5% year-on-year Same-store year-on-year Same-store year-on-year Same-store year-on-year growth occupancy g
Slide 15: Trading Results
TRADING RESULTS 30 Sep 25 30 Sep 24 SA UK SA UK SA UK Rm £’000 Rm £’000 +/- +/- Rental income Self storage 344.6 12 083 309.0 11 789 11.5% 2.5% SA same-store y-o-y: Other 6.5 346 5.5 458 17.5% (24.5)% Rental income +9.8% Ancillary income 15.0 1 254 13.2 1 212 13.7% 3.5% Occupancy +1.0% and rental ra
Slide 16: Occupancy Summary
OCCUPANCY SUMMARY 30 Sep 25 30 Sep 24 Occupancy OWNED PORTFOLIO GLA m2 Occupied m 2 % Occupied GLA m2 Occupied m 2 % Occupied growth m 2 SA Same-store 394 000 363 000 92.1% 391 900 360 200 91.9% 2 800 Non same-store 7 600 7 000 92.4% 7 600 7 200 95.0% (200) Total 401 600 370 000 92.1% 399 500 367 40
Slide 17: Same-Store Rental Income Growth
SAME-STORE RENTAL INCOME GROWTH 25% 21.2% 20% 15% Percentage 12.7% 10.0% 10.2% 9.8% 9.8% 10% 8.6% 8.9% 6.5% 6.3% 6.5% 5.0% 5% 3.0% 2.5% SA 0% UK FY20 FY21 FY22 FY23 FY24 FY25 H1 FY26 Years STOR-AGE PROPERTY REIT LIMITED 17
Slide 18: Churn and Length of Stay – SA
CHURN AND LENGTH OF STAY – SA 6.0% 28 5.8% 5.7% 27.1 27 5.6% 26.3 5.4% 5.4% 26 5.2% 5.2% 25.5 5.1% Percentage Months 5.0% 25 4.8% 4.9% 24.5 4.8% 4.8% 24 4.6% 23.7 4.4% 23 23.1 4.2% 22.7 4.0% 22 FY20 FY21 FY22 FY23 FY24 FY25 H1 FY26 Years Churn % Average length of stay (months) Each financial year re
Slide 19: Churn and Length of Stay – UK
CHURN AND LENGTH OF STAY – UK 9.0% 34 33.0 8.8% 32.8 33 8.7% 32.1 8.6% 31.8 32 31.3 8.4% 8.4% 31 8.2% 8.2% 8.2% 8.2% 30.8 30 Percentage 8.1% Months 8.0% 29 7.8% 7.9% 28 7.6% 27 7.4% 26.2 26 7.2% 7.0% 25 FY20 FY21 FY22 FY23 FY24 FY25 H1 FY26 Years Churn % Average length of stay (months) Each financia
Slide 20: Distribution Analysis
DISTRIBUTION ANALYSIS 30 Sep 25 30 Sep 24 Total Total SA UK SA UK Total SA UK Total +/- +/- +/- +/- Rm £m Rm Rm £m Rm Rm % % % Net property operating income 284.2 9.5 512.8 253.0 9.6 477.5 35.3 +7.4% +12.3% -1.2% Waterfall – loss of revenue claim - - - 3.0 - 3.0 (3.0) -100% -100% - Managem
Slide 21: Property Valuations
PROPERTY VALUATIONS Average value SA R million % of portfolio per m² Discount rate Exit cap rate Freehold and long leasehold 5 994.0 97.2% Short leasehold 171.1 2.8% Total 6 165.1 100.0% R14 937 14.29% 8.66% Trading properties 6 016.1 97.6% Average value per m 2 up 7.9% vs Sep 24 Held for developmen
Slide 22: SA REIT Net Asset Value per Share
SA REIT NET ASSET VALUE PER SHARE Rm 30 Sep 25 31 Mar 25 Reported net asset value (NAV) 8 588.1 8 465.7 Derivatives MTM (22.1) (20.2) Goodwill and intangible assets (159.5) (159.9) Deferred tax 0.1 0.1 SA REIT NAV 8 406.6 8 285.9 Shares in issue + dilutive instruments (million) 487.3 486.2 SA REIT N
Slide 23: Treasury Dashboard
TREASURY DASHBOARD ZAR facilities GBP facilities GBP facilities Total facilities Rm £m Rm Rm Total debt facilities 2 375.0 113.5 2 634.8 5 009.8 Undrawn debt facilities 434.7 10.2 237.6 672.3 Gross debt 1 940.3 103.3 2 397.2 4 337.5 Secured 1 440.3 92.4 2 145.2 3 585.5 Unsecured 500.0 10.9 252.0 752
Slide 24: Treasury Dashboard (continued)
TREASURY DASHBOARD (CONTINUED) Asset and debt ratios Sep 25 Sep 24 ICR 3.0x 3.3x Unencumbered assets R2.361 bn R1.540 bn Unencumbered asset ratio 19.4% 14.0% Unsecured debt ratio 18.1% 18.1% Ratio of secured borrowings to encumbered assets 32.9% 35.4% Ratio of unsecured borrowings to encumbered asse
Slide 25: Loan-to-Value (LTV)
LOAN-TO-VALUE (LTV) 50% Sector weighted 45% Sector historic average 38.5%¹ average 35%¹ 40% 35% 31.4% 31.3% 30.9% 30.1% 29.9% Loan-to-Value (LTV) 30% 27.9% 24.6% 24.1% 25% 20% 16.1% 15% 12% 10% 8.7% 5% 0% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 H1 FY26 1. Source: Investec Securities, Novem
Slide 26: Strategy
STRATEGY STOR-AGE PROPERTY REIT LIMITED 26
Slide 27: Strategic Planning to 2030
STRATEGIC PLANNING TO 2030 Development and acquisition-led growth across SA and the UK • SA strategy targets 90 properties › Balanced pipeline of new developments, selective acquisitions and conversions in high-growth urban and regional markets › Focus is on highly visible, investment-grade properti
Slide 28: Strategic Planning to 2030 (continued)
STRATEGIC PLANNING TO 2030 (continued) Independents or portfolios in targeted cities and towns Acquire existing stores Develop new properties in prominent high-barrier-to-entry locations in core markets Develop new properties Develop smaller, strategically located in-fill properties that serve high
Slide 29: Joint Venture Partnerships
JOINT VENTURE PARTNERSHIPS STOR-AGE PROPERTY REIT LIMITED 29
Slide 30: Joint Ventures – The Model
JOINT VENTURES – THE MODEL Several JV partnerships have been established in SA and the UK in recent years to acquire and develop new properties. Overview • At 30 September 2025 › JV investments value: R712.3 million (FY25: R711.4 million), with R160.7 million in SA and R551.6 million in the UK › Tra
Slide 31: Joint Ventures – South Africa
JOINT VENTURES – SOUTH AFRICA JV with Nedbank (NPP) established in FY22 • Five properties completed and trading Nedbank Property Partners • Total GLA: 28 500m² • Portfolio valuation: R549.8 million • Equity interest: Stor-Age and NPP each hold 50% Sunningdale, Cape Town’s western seaboard • Opened:
Slide 32: Joint Ventures – UK
JOINT VENTURES – UK JV portfolio overview (established 2021) • Focus areas: London (and commuter towns), South East, and key regional towns/cities • Stor-Age equity interest: 24.9%, with the exception of Acton (15%) Portfolio Moorfield • Trading properties: Nine, comprising 56 000m² GLA Group • Port
Slide 33: Acquisitions and Developments
ACQUISITIONS AND DEVELOPMENTS STOR-AGE PROPERTY REIT LIMITED 33
Slide 34: Acquisitions and Developments
ACQUISITIONS AND DEVELOPMENTS Developments completed and pipeline • Development pipeline: 78 000m² GLA across 19¹ projects • Continue to collaborate with institutional investors and private equity funds, including Nedbank, Moorfield, Nuveen and Hines Lock-Up Storage acquisition • In October 2025 we
Slide 35: Pipeline
PIPELINE Completion Property Region Country Status GLA¹ date² De Waterkant Cape Town SA In planning 6 500m² TBC Sandton Johannesburg SA In planning 6 200m² TBC Bramley Johannesburg SA Under construction 5 600m² Q4 FY27 Rosebank Johannesburg SA In planning 5 800m² TBC Hillcrest Durban SA In planning
Slide 36: Bramley – Current Development
BRAMLEY – CURRENT DEVELOPMENT Positioned in a highly prominent location on Eden Road, with excellent visibility to the Atholl M1 highway, the new Bramley property sits in close proximity to the Corlette Drive offramp at Melrose Arch and also benefits from good access. Corlette Drive The property wil
Slide 37: De Waterkant – Planned Development
DE WATERKANT – PLANNED DEVELOPMENT The development will comprise c. 6 500m² GLA over 13 levels, with excellent visibility to commuters travelling both into and out of the Cape Town CBD along Buitengracht Green Point V&A Wate rfront Street. Prominently situated on the corner of Rose and Waterkant Str
Slide 38: Blackheath – Planned Development
BLACKHEATH – PLANNED DEVELOPMENT Smaller-format properties Zevenwac ht • Acquisition forms part of our 2030 Property Strategy to develop smaller-format properties Kuilsrive r Mall • Planned as a 1 800m² GLA property, comprising drive-up, ground-level units • Will serve as an infill location – comple
Slide 39: Extensions and Redevelopments
EXTENSIONS AND REDEVELOPMENTS Completion Property Region Country Status GLA date Sunningdale Cape Town SA Expansion – in planning 4 700m² TBC Huddersfield North East UK Expansion – planning permission received 22 000 sqf TBC Wakefield Yorkshire UK Expansion – planning permission received 7 000 sqf T
Slide 40: Develop, Sale and Manage Back Model
DEVELOP, SALE AND MANAGE BACK MODEL Opportunity identified in the UK market to develop and deliver newly built, fourth-generation properties in prime locations on a forward commitment basis to prospective institutional buyers, and to then manage the properties post opening. South East opportunity •
Slide 41: Third-Party Developments – Hines
THIRD-PARTY DEVELOPMENTS – HINES • Entered third-party management agreement with Hines in FY25 to manage their acquisition of a three-property portfolio in the UK • The acquisition marked Hines’ first investment into the European self storage sector • Hines is a privately owned global real estate in
Slide 42: Chelmsford – Hines Development
CHELMSFORD – HINES DEVELOPMENT Storage King Chelmsford is a brownfield development (building conversion) located Esso Service Roxwell Station to the north east of Chelmsford city centre, at the intersection of the B1008 and Brook Colchester Street. The central location enjoys easy access to the A101
Slide 43: Third-Party Management
THIRD-PARTY MANAGEMENT STOR-AGE PROPERTY REIT LIMITED 43
Slide 44: Third-Party Management
THIRD-PARTY MANAGEMENT Overview • Platform includes 28 properties: 20 in the UK and eight in South Africa • Total management fees for the period: R32.4 million (H1 FY25 R35.2 million), with 86% classified as recurring • In September 2025 we secured the management contract for a trading self storage
Slide 45: Operations
OPERATIONS STOR-AGE PROPERTY REIT LIMITED 45
Slide 46: Platform Overview
PLATFORM OVERVIEW Predictive pricing Purpose built Promotion controls Outstanding locations Rate increases Convenient access Multi-signal revenue High quality management properties Strategic focus from inception Permanently in beta Bespoke L&D platform Consistent approach Incentivised outperformance
Slide 47: Revenue Management
REVENUE MANAGEMENT Integrated strategy Optimising demand Customer Testing Occupancy Optimisation journey trends Multi-signal, real-time Understand modelling customer journey Optimised Demand Dynamic, optimal Promotion consumer cycle cycle pricing Digital experience Market-leading sector IP Propertie
Slide 48: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE STOR-AGE PROPERTY REIT LIMITED 48
Slide 49: ESG
ESG Strategy and framework • Aligns our Vision and Core Values with relevant UN Sustainable Development Goals • Takes guidance from the Task Force on Climate-related Financial Disclosures • ESG framework: Facilitates monitoring of our impact on the economy, workplace, social environment and natural
Slide 50: Typical Property
TYPICAL PROPERTY Stor-Age develops environmentally-friendly buildings with low environmental impact. ESG and sustainability remain key areas of focus. Solar PV & battery energy storage systems Properties with solar capacity – 82 Properties with hybrid solar PV systems – 42 Solar power generated to d
Slide 51: Outlook
OUTLOOK • Trading results › SA portfolio delivered strong results in H1 FY26 › UK portfolio traded in line with the sector, with trading conditions challenging › Key operating metrics in SA and the UK demonstrate the resilience of the business › Remain focused on enhancing operational performance an
Slide 52: Annexures
ANNEXURES A. Key financial and operational highlights B. Share price performance F. SA property G. UK property C. Investment case H. Operations D. The market I. Environmental, social and governance E. Strategy and portfolio STOR-AGE PROPERTY REIT LIMITED 52
Slide 53: Key Financial and Operational Highlights
KEY FINANCIAL AND OPERATIONAL HIGHLIGHTS Annexure A 30 Sep 2025 30 Sep 2024 +/- Property operating revenue1 Group (R million) - as reported 694.4 643.0 8.0% SA (R million) 364.0 326.8 11.4% UK (£'000) 13 711 13 522 1.4% Net property operating income (NPOI)2 Group (R million) - as reported 512.8 477.
Slide 54: Share Price Performance – Relative to ALPI
Indexed price 20 40 60 80 100 120 140 160 180 Oct-15 Dec-15 Feb-16 Apr-16 Jun-16 Aug-16 Oct-16 Dec-16 1. Bloomberg, as at 31 October 2025 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17 Feb-18 Apr-18 Jun-18 Aug-18 Oct-18 Dec-18 Feb-19 Apr-19 Jun-19 Volume Aug-19 Oct-19 Dec-19 Feb-20 Apr-20 Jun-20 Aug-20 O
Slide 55: Share Price Performance – Relative to Peers
SHARE PRICE PERFORMANCE – RELATIVE TO PEERS Annexure B Share price performance in GBP since listing in 2015 Stor-Age has a c.50% exposure to GBP assets through Storage King Stor-Age is entrenched in the UK market. This geographic underpin is coupled with an attractive yield spread relative to UK pee
Slide 56: Share Price Performance – Relative to Peers (24 months)
SHARE PRICE PERFORMANCE – RELATIVE TO PEERS Annexure B Share price performance in GBP over the last 24 months Stor-Age has a c.50% exposure to GBP assets through Storage King Stor-Age is entrenched in the UK market. This geographic underpin is coupled with an attractive yield spread relative to UK p
Slide 57: Investment Case
INVESTMENT CASE STOR-AGE PROPERTY REIT LIMITED 57
Slide 58: Investment Case
INVESTMENT CASE Annexure C • Resilient and growing › Niche growth sector driven by societal trends such as consumerism, e-commerce growth, urban Global growth densification and an increasingly mobile population opportunities in the › Primary demand drivers include life-changing events and dislocatio
Slide 59: The Market
THE MARKET STOR-AGE PROPERTY REIT LIMITED 59
Slide 60: The Market
THE MARKET Annexure D UK self storage market overview • Less developed: Compared to the United States and Australia 2 050 83.3% 3 375 • Supply: Estimated at 0.94 sqf per head of population in the UK¹, versus 6.2 sqf in the US¹, 2.5 sqf Self storage properties, Occupancy on current Self storage prope
Slide 61: UK and European Self Storage Industry – Overview
UK AND EUROPEAN SELF STORAGE INDUSTRY – OVERVIEW Annexure D UK self storage industry¹ European self storage industry (excluding UK)³ 2 915 75.1% c. 7 600 Self storage properties, Occupancy on current Self storage properties³ includes 1 135 container lettable area operators 116 million sqf Population
Slide 62: Strategy and Portfolio
STRATEGY AND PORTFOLIO STOR-AGE PROPERTY REIT LIMITED 62
Slide 63: Strategy
STRATEGY Annexure E Strategic planning to 2030 • Highly strategic in planning – completed in 5-year cycles • Successful track record of executing 5-year strategies to 2015, 2020 and 2025 • Business strategy traditionally led by property strategy – now complemented by digital strategy • Multiple rese
Slide 64: Strategy (continued)
STRATEGY (continued) Annexure E Stor-Age is a sector specialist with deep product understanding, significant emerging and first-world market experience, and boasting a successful track-record of managing self storage assets. The business benefits from outstanding real estate expertise, an excellent
Slide 65: Portfolio Overview
PORTFOLIO OVERVIEW Annexure E 109 The portfolio comprises 63 properties in SA and 46 properties in the UK, with 81 properties classified as owned and 28 as managed SA PORTFOLIO UK PORTFOLIO¹ 63 properties 46 properties R6.56 bn² R7.05 bn² (£303.7 million) 436 600m² GLA³ 190 600m² GLA³ 34 100 tenants
Slide 66: Portfolio Analysis
PORTFOLIO ANALYSIS Annexure E Total property value¹ Total number of tenants² Total GLA² Total number of properties³ R13.6bn 56 100 616 600m2 109 Value of properties Number of tenants GLA Number of properties 39% 30% 42% 48% 52% 61% 70% 58% South Africa UK 1. Total net investment property value, incl
Slide 67: SA Property
SA PROPERTY STOR-AGE PROPERTY REIT LIMITED 67
Slide 68: Lock-Up Storage – Acquisition
LOCK-UP STORAGE – ACQUISITION Annexure F In October 2025 we acquired Lock-Up Storage in Pinetown and New Germany, Durban for a purchase consideration of R95.0 million. Pinetown, developed in 2007, is a single storey property with drive-up self storage units and ancillary offices. New Germany, develo
Slide 69: Parklands – Expansion Complete
PARKLANDS – EXPANSION COMPLETE Annexure F In November 2022, we acquired Think Secure Self Storage in Parklands, a suburb N7 located on Cape Town’s west coast. The property enjoys high visibility and presence on Sandown Road, with good access Sandow n Roa d off Koeberg Road from a nearby intersection
Slide 70: Sunningdale – Expansion (In Planning)
SUNNINGDALE – EXPANSION (IN PLANNING) Annexure F To Melkboss tra nd In April 2021, our Sunningdale property, developed in a 50:50 JV with Garden Cities, commenced trading. Since opening, the property has delivered an exceptionally strong Table Bay trading performance, underpinned by healthy levels o
Slide 71: UK Property
UK PROPERTY STOR-AGE PROPERTY REIT LIMITED 71
Slide 72: Acton – Completed Development
ACTON – COMPLETED DEVELOPMENT Annexure G Storage King Acton is a brownfield development (building conversion) located on A2020 The Vale Stanley Gardens just off the The Vale (A4020), a busy main arterial in Acton in West Shepherd’s London. Acton Bush Acton, which sits in zone 3, is a large residenti
Slide 73: Operations
OPERATIONS STOR-AGE PROPERTY REIT LIMITED 73
Slide 74: The Platform
THE PLATFORM Annexure H Highly scalable platform Can be leveraged into new markets Unique benefit Sophisticated Cost-effective South African head office infrastructure, homogenous product, shared language and similar timelines dual-market platform Experienced, hands-on management teams Highly experi
Slide 75: Direct Operating Costs – SA
DIRECT OPERATING COSTS – SA Annexure H 10% Repairs and maintenance 6% Utilities 10% Insurance 3% Marketing Total H1 FY26 direct operating costs amounted to R79.7 million 30% Property rates 11% Other 30% Staff costs STOR-AGE PROPERTY REIT LIMITED 75
Slide 76: Direct Operating Costs – UK
DIRECT OPERATING COSTS – UK Annexure H 5% Utilities 8% Repairs and maintenance 12% Marketing 8% Insurance Total H1 FY26 direct operating costs amounted to £4.23 million 8% Other 33% Property rates 26% Staff costs STOR-AGE PROPERTY REIT LIMITED 76
Slide 77: Our Customers
OUR CUSTOMERS Annexure H GEOGRAPHIC REPRESENTATION1 RESIDENTIAL / COMMERCIAL TENANT MIX BY GLA2 Gauteng Residential 27 Western Cape 35 31 Commercial Eastern Cape KwaZulu-Natal 1 6 Free State 69 3 United Kingdom 28 GEOGRAPHIC FOCUS RESIDENTIAL vs COMMERCIAL Primary focus = high profile locations in J
Slide 78: Our Customers (continued)
OUR CUSTOMERS (continued) Annexure H AVERAGE LENGTH OF STAY – SA AVERAGE LENGTH OF STAY – UK < 6 Months 30 < 6 Months 25 26 31 6 - 12 Months 6 - 12 Months 14 1 - 2 years 9 1 - 2 years 11 18 2 - 3 Years 2 - 3 Years 20 16 > 3 Years > 3 Years DEMAND PROFILE – SA DEMAND PROFILE – UK Two significant user
Slide 79: Business Customers – Adding Value to SA Economy
BUSINESS CUSTOMERS – ADDING VALUE TO SA ECONOMY Annexure H Our commercial customers¹ 50% + 13% + 65% + 85% + c. 40% SMMEs Entrepreneurs Operational Inventory Within 5kms of requirements and stock their store Contribution to the local economy¹,² Considering that we had approximately 8 500 commercial
Slide 80: Digital First – Digital Marketing Platform
DIGITAL FIRST – DIGITAL MARKETING PLATFORM Annexure H Key features MIDDLE EASTERN CASE STUDY¹ • Full service digital marketing agency, focused on the self storage sector, launched in July 2020 Independent operator • Stor-Age: Accredited Google and Meta marketing partner Significant impact on enquiry
Slide 81: SA Marketing Spend – Benefits of Scale & Specialisation
Annexure H SA MARKETING SPEND – BENEFITS OF SCALE & SPECIALISATION R680.2m R700 R16 R611.7m R14 R600 R539.6m R12 R500 R476.6m Property revenue | Millions Marketing spend | Millions R10 R400 R366.9m R8 R300 R6 R5.2m R5.2m R4.6m R4.8m R200 R4 R2.4m R100 R2 1.2% 1.0% 0.8% 0.8% 0.6% R0 R0 FY22 FY23 FY24
Slide 82: UK Marketing Spend – Benefits of Scale & Specialisation
Annexure H UK MARKETING SPEND – BENEFITS OF SCALE & SPECIALISATION £30 £3 £27.2m £25.7m £25.1m £25 £20.7m Property revenue | Millions Marketing spend | Millions £20 £2 £15 £13.78m £1.09m £0.94m £0.98m £10 £1 £0.84m £0.51m £5 4.6% 5.0% 4.2% 4.1% 2.9% £0 £0 FY22 FY23 FY24 FY25 H1 FY26 % Marketing spen
Slide 83: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE STOR-AGE PROPERTY REIT LIMITED 83
Slide 84: Social
SOCIAL Annexure I Social and economic development initiatives • Commitment: Stor-Age remains dedicated to social and economic development initiatives, utilising operational and marketing resources along with the core self-storage product • Objectives: Initiate and contribute to projects benefiting p
Slide 85: Social (continued)
SOCIAL (continued) Annexure I Stor-Age Business Hub and economic development • Commitment: Stor-Age remains committed to social and economic development initiatives, actively supporting the sustainability of commercial customers' businesses Support for SMMEs • Majority of our commercial customers ar
Slide 86: Disclaimer and Confidentiality
DISCLAIMER AND CONFIDENTIALITY This document does not constitute or form part of any formal proposal or offer or solicitation to sell, or offer for sale or investment, or for the issue or sale of securities. This document does not (and nor does any part of it) constitute any contract, commitment or
Stor-Age Property REIT — H1 FY2026 Earnings Presentation on 6ix