Resilient Reit Limited · JSE:RES
Resilient Reit — H1 2026 Earnings Presentation
33 slides from Resilient Reit's earnings presentation, August 2026
Slide 1: Results Presentation for the six months ended 30 June 2026
RESULTS PRESENTATION for the six months ended 30 June 2026
Slide 2: Strategy
STRATEGY • Own dominant retail centres • Ongoing focus on strategic asset management imperatives • Continued adaptation to retail trading patterns to ensure continued relevance and attractiveness to both customers and tenants • Expansion of solar systems, containment of energy costs and effective en
Slide 3: Highlights
HIGHLIGHTS • Interim dividend of 274,38 cents per share declared (+11,7% compared to 1H2025) – Solid performance from South African portfolio – Growth supported by performance of Lighthouse (+9,7% euro) – Favourable contracted forward exchange rates – Reduction of interest rates and improved margins
Slide 4: Investment Portfolio
INVESTMENT PORTFOLIO At At Jun 2026 Dec 2025 Direct property (89,0%) R37 073m Direct property (88,3%) R36 868m SA (78,6%) R32 737m SA (77,5%) R32 378m France (5,7%) R2 377m France (5,9%) R2 461m Spain (4,7%) R1 959m Spain (4,9%) R2 029m Listed property offshore (11,0%) R4 564m Listed property offsho
Slide 5: South African Portfolio
SOUTH AFRICAN PORTFOLIO • Comparable NPI growth +6,0% • SA comparable sales growth +2,9% impacted by tenant initiatives • Renewals on average +2,5% • New leases on average +7,1% • Renewals and new leases on average +3,2% • Escalations on renewals and new leases: 5,2% • Vacancy: 1,9% • Revaluation +1
Slide 6: Secunda Mall
Secunda Mall 6
Slide 7: Secunda Mall
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Slide 8: Jubilee Mall
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Slide 9: Circus Triangle Mall
Circus Triangle Mall 9
Slide 10: Comparable Sales Growth per Province
COMPARABLE SALES GROWTH PER PROVINCE Six months ended South African Jun 2026 properties vs Jun 2025 by value Province % % KwaZulu-Natal 4,4 16,4 Northern Cape 4,2 6,6 North West 4,0 6,5 Limpopo 3,6 28,3 Gauteng 2,8 25,2 Mpumalanga (0,2) 13,5 Eastern Cape (2,5) 3,5 10
Slide 11: National Tenant Groups
10 12 % 0 2 4 6 8 TFG Pepkor Mr Price Group Shoprite Checkers Pick n Pay Massmart Truworths Woolworths Clicks Group NATIONAL TENANT GROUPS Retailability Group as a percentage of contractual rental revenue as at 30 June 2026 Dis-Chem Famous Brands Spur Corporation Absa Standard Bank Capitec FirstRand
Slide 12: I'langa Mall
I’langa Mall 12
Slide 13: I'langa Mall
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Slide 14: Lease Expiry Profile (SA)
LEASE EXPIRY PROFILE (SA) as at 30 June 2026 Rentable area (%) Contractual rental revenue (%) Vacant 1,9 Vacant Dec 2026 14,8 Dec 2026 15,4 Dec 2027 18,6 Dec 2027 21,3 Dec 2028 22,8 Dec 2028 24,0 Dec 2029 17,1 Dec 2029 18,6 Dec 2030 9,5 Dec 2030 8,5 > Dec 2030 15,3 > Dec 2030 12,2 0 5 10 15 20 25 14
Slide 15: Energy Projects
ENERGY PROJECTS • Continued roll-out of solar and battery installations • Solar installations – Additional 6,4MWp during FY2026 – Solar energy to supply approximately 43,2% of Resilient’s energy consumption by Dec 2026 • Battery storage capacity – Installed additional 10MWh during 1H2026 – Battery s
Slide 16: Acquisitions, Developments and Extensions
ACQUISITIONS, DEVELOPMENTS AND EXTENSIONS Acquisitions • 50% of Mams Mall • 50% of The Village Klerksdorp Developments and extensions • Irene Village Mall – opened 30 July 2026 • Soshanguve banking court • Secunda Mall • Mahikeng Mall Woolworths • I’langa Mall • Tzaneen Lifestyle Centre – opening 4Q
Slide 17: Irene Village Mall
Irene Village Mall 17
Slide 18: Irene Village Mall
Irene Village Mall 18
Slide 19: Irene Village Mall
Irene Village Mall 19
Slide 20: Soshanguve Crossing
Soshanguve Crossing 20
Slide 21: Soshanguve Crossing
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Slide 22: Mahikeng Mall
Mahikeng Mall 22
Slide 23: Tzaneen Lifestyle Centre
Tzaneen Lifestyle Centre 23
Slide 24: Tzaneen Lifestyle Centre
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Slide 25: Offshore Direct Property Portfolio
OFFSHORE DIRECT PROPERTY PORTFOLIO France • Comparable sales growth: +5,7% • Vacancy: 5,2% • NPI growth +6,6% • Ongoing tenant initiatives Spain • Comparable sales growth +8,5% • NPI growth +5,0% • Vacancy: 0,2% 25
Slide 26: Listed Portfolio
LISTED PORTFOLIO Jun 2026 Dec 2025 Number Fair value Number Fair value Counter of shares R’000 of shares R’000 Lighthouse (LTE) 576 218 676 4 563 652 576 218 676 4 869 048 • Dec 25 dividends received in cash • Own 27,3% at Jun 2026 26
Slide 27: Summary of Financial Performance
SUMMARY OF FINANCIAL PERFORMANCE Jun 2026 Dec 2025 Jun 2025 Dec 2024 Dividend per share (cents) 274,38 244,70 245,72 221,28 Shares in issue for IFRS 334 075 422 333 633 900 333 626 198 334 006 808 Shares held in treasury: Resilient Properties 30 156 041 30 156 041 30 156 041 30 156 041 Shares held i
Slide 28: Funding and Facilities
FUNDING AND FACILITIES • Unencumbered assets – listed: R4,6 billion – SA property: R11,7 billion (excluding land) Current • Undrawn facilities of R2,3 billion profile • Average cost of funding: 8,40% (excluding the effect of cross-currency swaps) • Interest cover ratio: 2,7 times DMTN R7 405m Nedban
Slide 29: Facility Expiries
FACILITY EXPIRIES R’million 5 000 4 000 3 000 2 000 1 000 0 FY2026 FY2027 FY2028 FY2029 FY2030 FY2031 FY2032 DMTN RMB French funding Nedbank Standard Bank Spanish funding 29
Slide 30: Derivatives
DERIVATIVES South African interest rate risk Average Average Amount swap rate Amount cap rate Interest rate swap expiry R’000 % Interest rate cap expiry R’000 % Oct 2026 300 000 5,63 Sep 2026 200 000 8,07 Nov 2026 800 000 7,14 FY2027 1 000 000 8,03 Dec 2026 500 000 6,50 FY2028 1 500 000 8,38 FY2027
Slide 31: Challenges
CHALLENGES • Low economic growth • Decline of local authorities and state – managed infrastructure • Cost and reliability of electricity and water supply • Pressure on consumer • Continuously evolving retail trends – curating shopping and leisure offering to enhance dominance 31
Slide 32: Outlook and Opportunities
OUTLOOK AND OPPORTUNITIES • Continued expansion of battery and solar initiatives • Rightsizing retail offerings and expanding shopping centres where appropriate • Ongoing retailer demand for Resilient’s shopping centres • Well-located properties with strong corporate tenant profile • Evaluation of o
Slide 33: Irene Village Mall
Irene Village Mall 33