Burstone Group Limited · JSE:BTN
Burstone — Corporate Update (March 2026)
13 slides from Burstone's corporate update, Mar 24, 2026
Slide 1: Pre-close trading update and investor presentation for the period ending 31 March 2026
Transform potential Pre-close trading update and investor presentation for the period ending 31 March 2026 24 MARCH 2026 THIS DOCUMENT SHOULD BE READ IN CONJUNCTION WITH THE FULL ANNOUNCEMENT MADE ON SENS ON 24 MARCH 2026 COMMENTARY ON THE GROUP'S FINANCIAL PERFORMANCE IN THIS PRE-CLOSE TRADING UPDA
Slide 2: Key highlights
01 Key highlights Transform potential
Slide 3: FY26 Highlights
FY26 Highlights Group performance Real estate investments Fund and asset management ● Distributable earnings: c. 2% - 3% ● South Africa: c. 4% - 5% LFL NPI ● Fee income: c. 15% - 17% of Group growth yoy growth; vacancies to c. 3% - 4% earnings (FY25: 10.7%) ● DIPS: c. 104.60cps – 105.56cps ● Europe:
Slide 4: Underlying real estate performance
02 Underlying real estate performance Transform potential
Slide 5: Performance of the South African portfolio
Performance of the South African portfolio Improving operating environment as business confidence stabilises; retail & industrial resilient, office recovery strengthening Portfolio Overview Sector Breakdown ● SA (c. 80% of Group income) delivering strong growth ● Retail (45% of portfolio): c. 8% - 1
Slide 6: Performance of the European co-investment
Performance of the European co-investment Modest growth supporting measured occupier demand; improving debt markets with focus on logistics & light industrial PEL Platform Overview PEL Platform Performance ● c. R1.8bn co-investment (20%) alongside Blackstone ● Slightly lower yoy LFL performance driv
Slide 7: Performance of the Australian co-investment
Performance of the Australian co-investment Resilient economy with strong industrial & logistics fundamentals; strong acquisition competition from Asia Pacific capital flows Industrial Platforms ● BTN equity of c. A$28.9m (c. R329.9m) co-investment in industrial platforms ● GAV of c. A$442m (c. R5bn
Slide 8: Fund and asset management
03 Fund and asset management Transform potential
Slide 9: Fund and asset management
Fund and asset management Secured c. R4.4bn of third-party equity commitments South Africa Europe Australia Core Plus platform New European light industrial Accelerating momentum with third- platform launched party capital • Remains under consideration within • Partnership with Hines European • A$17
Slide 10: Closing
04 Closing Transform potential
Slide 11: Closing remarks
Closing remarks 1. Earnings delivery in line with guidance - c. 2% - 3% 2. Fund & asset management momentum ● Consistent real estate performance, underpinned by ● Momentum continuing to build in international fund and strong delivery of South African portfolio asset management activities o SA portfo
Slide 12: Q&A
Q&A Burstone REAL ESTATE PARTNERS,
Slide 13: Disclaimer
Disclaimer The information contained herein is for information purposes only and readers should not rely on such information as advice in relation to a specific issue without taking financial, banking, investment or professional advice. Although information has been obtained from sources believed to