Calgro M3 Holdings Limited · JSE:CGR
Calgro M3 — H1 2026 Earnings Presentation
22 slides from Calgro M3's earnings presentation, October 2025
Slide 1: Interim Financial Results
INTERIM FINANCIAL RESULTS For the period ended 31 August 2025
Slide 2: Agenda
AGENDA The future Underlying Period under Financial #sustainablegrowth business review review pathway performance Appendix
Slide 3: Period Under Review
1 PERIOD UNDER REVIEW Bankenveld District City
Slide 4: Terminology Going Forward
TERMINOLOGY GOING FORWARD Serviced residential opportunities Residential units held for sale Completed units which are available for Opportunities where bulk and link and internal immediate sale. These units are currently service connections are in place, top structure being marketed and are either
Slide 5: Salient Features
SALIENT FEATURES 2,589 HEPS decreased to NAV increased by 5% Serviced residential to R15.62 per share 82.86 cps (Aug 24: opportunities 101.40 cps) 871 Gross profit margin EPS decreased to Residential sustained at 29.43% 83.00 cps (Aug 24: opportunities under (Aug 24: 29.57%) 101.40 cps) construction
Slide 6: Underlying Business Performance
2 UNDERLYING BUSINESS PERFORMANCE Fleurhof Ext 31
Slide 7: Operational Performance
OPERATIONAL PERFORMANCE • Buyer sentiment remains cautious, with improvements in July and August 2025 • Year-end residential stock-on-hand reduced by half • Strong demand in property investor market • Despite a reduction in revenue, a strong gross profit margin of 29.4% was achieved through cost man
Slide 8: Bankenveld District City
BANKENVELD DISTRICT CITY INFRASTRUCTURE DEVELOPMENT IS PROGRESSING Pod intone
Slide 9: Business Environment
BUSINESS ENVIRONMENT RESIDENTIAL DEVELOPMENTS MEMORIAL PARKS • Interest rates trended downward in latter half of 2024 into 2025 • Operational parks are performing very well • Full impact of home loan affordability expected to materialise by • Forward momentum of Platinum City Memorial Park is Q3 202
Slide 10: Financial Review
3 FINANCIAL REVIEW Platinum City Memorial Park
Slide 11: Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME Unaudited Unaudited Audited (R’000) Aug 2025 Aug 2024 (restated) Feb 2025 Revenue 460 030 512 041 868 907 Gross Profit Margin Cost of sales (324 654) (360 611) (613 187) 30.00% Gross profit 135 376 150 430 255 720 29.80% Gross profit margin 29.43% 29.57% 29.43% 29.6
Slide 12: Statement of Cash Flows
STATEMENT OF CASH FLOWS Unaudited Unaudited Audited (R’000) Aug 2025 Aug 2024 Feb 2025 Cash (utilised in)/ generated from operations (50 631) 57 212 107 900 Increase in construction contract balance in the period from sectional title units under construction Finance income 26 706 34 123 63 093 and i
Slide 13: Statement of Financial Position | Assets
STATEMENT OF FINANCIAL POSITION | ASSETS Unaudited Audited Unaudited Aug 2024 Feb 2025 (R’000) Aug 2025 (restated)* (restated)* Assets Cash and cash equivalents 163 343 168 913 154 723 Trade and other receivables 100 829 98 636 82 703 Current income tax assets 982 355 289 Increase in construction co
Slide 14: Statement of Financial Position | Equity and Liabilities
STATEMENT OF FINANCIAL POSITION| EQUITY AND LIABILITIES Unaudited Audited Unaudited Aug 2024 Feb 2025 (R’000) Aug 2025 (restated) * (restated)* Stated Capital 27 247 31 610 33 909 1.3 million shares bought back at average price of R5.00, shares have been cancelled Share based payment reserve 1 450 2
Slide 15: Borrowing Maturities and Covenants
BORROWING MATURITIES AND COVENANTS BORROWING MATURITIES COVENANTS 31 Aug 28 Feb Regulated Outstanding capital Rand (R’m) 2025 2025 level Opening balance 28 Feb 2025 1 088.00 Net debt to equity 0.71 0.64 Max 1.5 New debt 350.00 ratio Debt repaid (207.50) Debt service cover 1.58 1.38 Min 1.2 ratio Clo
Slide 16: #SustainableGrowth Pathway
4 #SUSTAINABLEGROWTH PATHWAY Artist impression- Bankenveld District City
Slide 17: Strategic Pillars
STRATEGIC PILLARS Sale of non-core assets Balancing the two Manage the relationship Focus on enhancing staff (non-contributing assets business segments in the between the Group’s net expertise through strategic with no intention for long-term by reducing the debt level in relation to its skills deve
Slide 18: Repositioning of Residential Portfolio
REPOSITIONING OF RESIDENTIAL PORTFOLIO SALE OF NON-CORE ASSETS LONG-TERM PROJECTS (> 5 YEARS) Kwa-Nobuhle Umhlanga Witpoortjie Mid-to-high properties Region Development Number of Duration units (years) AMPLIFY Gauteng Bankenveld 20,000 >15 Fleurhof 5,166 >10 (including PROJECTS TO BE TRADED OUT OVER
Slide 19: Repositioning of Memorial Parks Portfolio
REPOSITIONING OF MEMORIAL PARKS PORTFOLIO MEMORIAL PARKS • Strategically grow the Memorial Parks business to further support Group cash flow requirements within the Residential Property Development Business considering investment requirements for Bankenveld District City. • Diversifying risk 2030 2%
Slide 20: Anticipated Shareholder Value Creation
ANTICIPATED SHAREHOLDER VALUE CREATION Healthier Liquidity Improved net asset value Greater return to shareholders Sale of non-core assets (non-contributing assets with no intention for development in the next five to 10 years) Balancing the two business segments in the long-term by reducing the num
Slide 21: Thank You
THANK YOU Investor Relations Ben Pierre Malherbe (CEO) Email: benpierre@calgrom3.com Sayuri Naicker (CFO) Email: sayurin@calgrom3.com Vanessa Rech (KRIS) Email: vrech@kris.co.za Tel: 083 307 5600 www.calgrom3.com Annual Financial Results for the year ended 28 February 2025 21
Slide 22: Thank You
THANK YOU Calgro M3 has acted in good faith and has made every reasonable effort to ensure the accuracy and completeness of the information contained in this presentation, including all information that may be defined as 'forward-looking statements'. Forward-looking statements may be identified by w