Vukile Property Fund Limited · JSE:VKE
Vukile Property Fund — Investor Presentation (September 2025)
19 slides from Vukile Property Fund's investor presentation, Sep 29, 2025
Slide 1: H1 FY2026 Pre-Close Presentation
ie H1 FY2026 Centres of Growth » Z PRESENTATION a 29 SEPTEMBER 2025 <a 2 \annaasasnssacaney &
Slide 2: Agenda
Agenda 01 Introduction 02 South African retail portfolio overview and trading update 03 Castellana Properties overview and trading update 04 Summary and prospects 05 Questions and answers 2
Slide 3: Introduction
O1 Introduction LAURENCE RAPP A Svukile
Slide 4: Strong operational start to the year with significant progress in integration of Iberian assets
01 INTRODUCTION PRE-CLOSE 29 SEPTEMBER 2025 Strong operational start to the year with significant progress in the integration of newly acquired assets in Iberia Both Spanish and Portuguese portfolios delivered outstanding metrics. Portuguese assets have been integrated successfully, including proces
Slide 5: South African retail portfolio overview and trading update
South African retail portfolio overview and trading update ITUMELENG MOTHIBELI 5
Slide 6: Retail portfolio performance and trading environment
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2025 Retail portfolio performance and trading environment Portfolio performance overview § Portfolio NOI to increase by 10.1% (Budget 9.1%) SEP MAR AUG SEP MAR AUG 2024 2025 2025 2024 2025 2025 § Annual like-for-like NOI growth is projected to
Slide 7: Year-on-year turnover growth
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2025 Retail category performance Year-on-year turnover growth Strong category trade continues to drive top-line growth Cell phones Density 14.9% Continued growth in like-for-like trading density (+5.3%) with Turnover 14.1% strong trade from Ap
Slide 8: Retail portfolio trading environment and footfall
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2025 Retail portfolio trading environment and footfall Portfolio continues to show growth in both footfall and sales All segments showed trading density growth with 7.6% in township, 4.6% Sales: 105.1% in rural, 3.4% in urban, 5.3% in commuter
Slide 9: Leasing activity
02 SOUTH AFRICAN RETAIL PORTFOLIO PRE-CLOSE 29 SEPTEMBER 2025 Leasing activity Vacancies stable at 1.8%, with continued vibrant leasing activity and strong support across all segments Environment of increased demand for space in investment grade dominant assets due to slowing new supply, leading to
Slide 10: Castellana Properties overview and trading update
Castellana Properties overview and trading update ALFONSO BRUNET Centres of Growth
Slide 11: Economic update: Spain
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2025 Economic update: Spain Strong economic growth § Updated GDP growth projections (as at June 2025): 2.4% in 2025 (+2.8% in Q2 2025 vs Q2 2024) and 1.8% in 2026 § Growth drivers: Domestic demand, strong labour market performance upholding private con
Slide 12: Economic update: Portugal
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2025 Economic update: Portugal Economic growth § GDP in Portugal grew 1.9% year-on-year in Q2 2025. Downward review to 1.7% (previously 2.3%) for 2025, 1.9% (previously 2.1%) for 2026, mainly due to the increased uncertainty in U.S. trade policy § Some
Slide 13: Footfall and sales
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2025 Footfall and sales Strong performance confirming the strength of the portfolio Castellana Spain Portugal portfolio § All assets continue to excel, with El Faro standing out prominently. The extension project has delivered exceptional results, achi
Slide 14: Operating metrics & lease activity
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2025 Operating metrics & lease activity Sustained strong leasing performance across the portfolio Spain Portugal Castellana Portfolio Leases signed (i) 138 leases 32 leases 170 leases 63 75 21 11 84 86 Renewals New contracts Renewals New contracts Rene
Slide 15: Operating metrics & leasing activity
03 CASTELLANA PROPERTIES PRE-CLOSE 29 SEPTEMBER 2025 Operating metrics & leasing activity Operating results continue to lead the sector Spain Portugal Castellana Portfolio Occupancy (i) 99.3% 98.4% 99.0% Rent collection 98.5% 94.3% 97.2% (i) Occupancy at 31/08/2025. Excluding the areas under develop
Slide 16: Summary and Prospects
04 Summary and Prospects LAURENCE RAPP
Slide 17: Prospects for the group
05 SUMMARY AND PROSPECTS PRE-CLOSE 29 SEPTEMBER 2025 Prospects for the group A strong start to FY2026: We have delivered very robust operational performance in the first five months of the year Successful integration driving momentum: The new assets in Spain and Portugal are now fully embedded into
Slide 18: Questions and answers
O5 Questions and answers Centres of Growth
Slide 19: Vukile
vukile Centres of Growth BUILDING COMMUNITIES, GROWING VALUE.
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