Vukile Property Fund Limited · JSE:VKE
Vukile Property Fund — Investor Presentation (September 2026)
22 slides from Vukile Property Fund's investor presentation, Sep 29, 2026
Slide 1: H1 FY2027 Pre-Close Presentation
H1 FY2027 29 SEPTEMBER 2026 PRE-CLOSE PRESENTATION
Slide 2: Agenda
Agenda 01 Introduction 02 South African retail portfolio overview and trading update 03 Castellana Properties overview and trading update 04 Esperia Properties overview and trading update 05 Capital Allocation and guidance 06 Questions and answers 2
Slide 3: QO. QO. iS) or oO) O g Cc co L DS ie) _
QO. QO. iS) or oO) O g Cc co L DS ie) _
Slide 4: Strong start to FY27 underpinned by ongoing strong operational delivery
01 INTRODUCTION PRE-CLOSE 29 SEPTEMBER 2026 Strong start to FY27 underpinned by ongoing strong operational delivery, successful integration of newly acquired assets and disciplined evaluation of future pipeline Continued strong operational performance across all markets Operating and trading metrics
Slide 5: Itumeleng Mothibeli
Itumeleng Mothibeli vukile Centres of Growth
Slide 6: Retail portfolio performance and trading environment
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2026 Retail portfolio performance and trading environment Portfolio performance overview ▪ Very pleased with the current H1FY27 portfolio performance; overall metrics SEP MAR AUG SEP MAR AUG tracking in line with budget 2025 2026 2026 2025 202
Slide 7: Footfall and sales
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2026 Footfall and sales Portfolio continues to show growth in both footfall and sales, driven by strong promotional activity and tenant mix Total Value portfolio Township Rural Urban Commuter Centres ▪ Year-on-year portfolio sales increased by
Slide 8: Retail category performance
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2026 Retail category performance Strong category trade across the board continues to drive top-line growth 90 5.9% 100% 3.6% Annualised Trading Density Aug 2026 (R/m²) 80 4.8% 90% 1.6% 6.2% Annualised Trading Density Aug 2025 (R/m²) 70 80% 5.6
Slide 9: Leasing activity
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2026 Leasing activity Strong tenant support across all segments, notwithstanding immediate-term inflationary pressure on consumers Market Dynamics ▪ Reversions on renewals improved to +4.0% (FY26: 3.7%), while new lets were concluded at rental
Slide 10: Castellana Properties overview and trading update
03 Castellana Properties overview and trading update Alfonso Brunet PROPERTIES
Slide 11: Footfall and sales
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2026 Footfall and sales Strong portfolio performance underpinned by sustained footfall and sales growth Castellana Spain Portugal portfolio ▪ Excellent start to the fiscal year for the Spanish portfolio, achieving significant footfall growth, led by Bo
Slide 12: Operating metrics and leasing activity
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2026 Operating metrics and leasing activity Sustained operating performance driven by healthy leasing demand Spain Portugal Castellana Portfolio Leases signed 69 leases 35 leases 104 leases 43 26 16 19 59 45 Renewals New contracts Renewals New contract
Slide 13: Operating metrics and leasing activity
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2026 Operating metrics and leasing activity Portfolio occupancy and rent collection remained at industry-leading levels, underscoring the effectiveness of our asset management strategy Spain Portugal Castellana Portfolio Vacancy (i) 1.0% 1.7% 1.1% Rent
Slide 14: Esperia Properties overview and trading update
04 Esperia Properties overview and trading update Roberto Limetti esperia
Slide 15: Footfall and sales
04 ESPERIA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2026 Footfall and sales A solid trading baseline for our newly acquired Italian platform Esperia Le Due Valli Le Centurie Quarto portfolio Nuovo ▪ The Esperia portfolio was acquired in June 2026, so these figures largely reflect the assets' historical tra
Slide 16: Operating metrics and leasing activity
04 ESPERIA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2026 Operating metrics and leasing activity Positive rental uplift, primarily from new contracts Leases signed 18 leases New rent signed €1.28 million 10 8 €744k €535k Renewals New contracts Renewals New contracts GLA signed 2,736 m² Ave Rent increase 5.6
Slide 17: Operating metrics and leasing activity
04 ESPERIA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2026 Operating metrics and leasing activity Low vacancy underpins the portfolio, with rent collection a focus for the year ahead Esperia portfolio Le Due Valli Le Centurie Quarto Nuovo Vacancy (i) 2.1% 6.7% 0.0% 1.5% Rent collection 92% 90.1% 89.2% 95% (i
Slide 18: Retail category performance
04 ESPERIA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2026 Retail category performance Widespread category growth continues to support trading density Annualised sales density Lfl by major categories 6,000 (0.7%) 2.5% 2.8% 5,000 4,000 0.5% 0.7% €/sqm 3,000 2,000 1,000 0 FASHION & FOOTWEAR PERSONAL GOODS (i)
Slide 19: Capital Allocation and guidance
05 Capital Allocation and guidance Laurence Rapp Centres of Growth
Slide 20: Prospects for the group
05 CAPITAL ALLOCATION AND GUIDANCE PRE-CLOSE 29 SEPTEMBER 2026 Prospects for the group Robust operational performance: The group delivered excellent operational performance during the first five months of FY27, with positive trading and operating metrics across the South African and European portfol
Slide 21: Questions and answers
06 Questions and answers vukile Centres of Growth
Slide 22: Building communities, growing value
vukile Centres of Growth BUILDING COMMUNITIES, GROWING VALUE. 22
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