15 Sep|PresentationAnnual results presentation for the year ended 30 June 2026

Annual results

for the year ended 30 June 2026

Attacq.co.za

Agenda

3 Performance highlights and strategic business alignment

Jackie van Niekerk

6 Operational South African portfolio

Michael Clampett

14 Developing Waterfall City

David Oosthuizen

30 Financial results

Peter de Villiers

38 Guidance and prospects

Jackie van Niekerk

40 Questions and answers

Runners at Waterfall City Logistics Hubs

Developing Waterfall City

Completed South African portfolio

(Waterfall City and Rest of South Africa)

A workplace where people thrive

Employee satisfaction score

90.0%

Jun 2025: 85.0 %

A digital integrated business built to scale

On track to implement the new property management system, MRI PXM, in 2027

3

^ Development activity includes developments under construction and approved pipeline

* Net profit from property operations, excluding the International Financial Reporting Standards (IFRS Accounting Standards)

** Deals concluded, irrespective of whether the space has been occupied or developed

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

Sector split by asset value (%)

11.8

MooiRivier Mall,

Potchefstroom

Lynnwood Bridge Precinct, Pretoria Brooklyn Precinct, Pretoria

Waterfall City,

Johannesburg

Eikestad Mall,

Stellenbosch

Garden Route,

George

2.6

31.9

22.9

Rest of South Africa (inside)

3.4

4.3

1.3

5.7

73.8

42.4

Waterfall City (outside)

Retail-experience hubs Collaboration hubs

Logistics hubs Hotel

Other

Developments under construction Leasehold land

* Other investments contributing (0.2) cents to DIPS (Jun 2025: (1.9) cents)

ATTACQ | Annual results for the year ended 30 June 2026

September 2026

4

Accountability

Collaboration

Creativity

Integrity

Sustainability

South Africa's most valuable REIT

A workplace where people thrive

The precinct developer and placemaker of choice

A digitally integrated business built to scale

ESG that drives real impact

Waterfall City

Completed buildings, developments under construction and leasehold land

Rest of South Africa

Completed buildings

5

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

Operational South African portfolio Waterfall City and the Rest of South Africa

Izinga Transport Hub

• Opened on 5 March 2026

• Consolidated taxi and delivery service facilities at Mall of Africa

• Serviced 125 800 vehicles in its first month, peaking at 149 124 vehicles in July

• Online delivery services now housed under roof

• Improved user experience through charging stations, free WiFi and upgraded ablution facilities

Allandale Building

• Secured 2 734m² of new and expanded leases across CHIETA, IOCO and Nokia

• Upgraded common lobbies with collaborative and breakout spaces

• Activated underutilised areas to enhance the tenant and visitor experience

• Hosted a client networking and appreciation event, attended by ±250 guests

7

September 2026

ATTACQ | Annual results for the year ended 30 June 2026

14 000

12 000

10 000

8 000

6 000

4 000

2 000

0

12 640

Jun 24

kL backup

Jun 25

Jun 26

Jun 27+

80

60

40

20

0

% of GLA with 5+ days of water backup

8

Attendees spend

108 minutes

in Mall of Africa, before or after visiting the market

Attendees visited

4.5 stores

at Mall of Africa

• An annual curated gathering for Halaal traders

• Food, books, apparel

• General food festival environment

• 35% increase in footfall during market days

The Halaal Goods Market shoppers expanded our customer reach

Achievements over 3 years

122 leases over

75 individual brands,

average 3.2 per month

Jun 2025: average 2.8 per month

FY26 total turnover

R3.95 million

increased by 7.7%

Jun 2025: 16.6%

Average annual occupancy rate

95.3%

Jun 2025: 94.0%

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

2.3

+56.8%

+7.0%

3.3

50.6

51.1

+5.3%

34.0

+3.3%

35.0

8.6

+13.2%

8.1

3.5

3.5

1.0

3.8

-

3.5

3.1

Net operating income (NOI) (%) Like-for-like valuation changes (%)

120.0

100.0

80.0

60.0

Retail-experience

hubs Collaboration hubs

Logistics hubs

Hotel Other Total

4.2

40.0

Occupancy (%)

97.7

89.0

97.2

100.0

100.0 94.9

20.0

-

Jun 25 Jun 26

Retail-experience hubs Collaboration hubs

Hotel Other

Retail- Collaboration Logistics

Hotel Other Total

Logistics hubs

experience

hubs

hubs

hubs

9

Occupancy (m2)

900 000 Net occupancy gain of 28 478 m²

724 851 (135 507) 125 895 42 488 (2 914) (1 484)

753 329

Renewals and new deals* (%)

750 000

600 000

450 000

300 000

1 Jul 2025 Expiries Renewed New

leases

New vacancy

Balance 30 Jun

2026

Rent reversions** (%)

100

4.6 (1.1)

(6.2)

3.4

50

0

Retail-experience hubs

Collaboration hubs Logistics hubs Total

* Based on new and renewed leases

Flat reversions Negative reversions Positive reversions

** Based on weighted gross monthly rental of new and renewed signed leases

10

Effort ratio* (%)

Weighted average annual trading density

3.7% growth

to R4 434 /m² of GLA

Jun 2025: R4 276 /m²

Client turnover rent

increased by 15.6%

to R44.7 million

Jun 2025: R38.7 million

Non-GLA income increased by

10.3 %

to R38.4 million

Jun 2025: R34.8 million

15 0.1%

3.1%

12.0

2.0%

1.0%

4.1%

8.5%

9.4

4.2%

7.9

7.9

8.5

7.5

(1.1%)

6.7

10

5

0

MOA BM ESM GRM MRM GFB LWB WC

Rolling 12-months trading density (R/m2)

8 000

6 000

4 000

2 000

6.9%

Rolling 12-months foot count (million)

(1.7)

4.8

(3.8)

(2.5)

(0.2)

20

15

10

5

0

MOA BM ESM GRM MRM GFB LWB WC

0

MOA BM ESM GRM MRM

* Effort ratio: (basic rental, rates and taxes, and all utility recoveries) divided by client turnover 11

Expenses

• Security expenses increased due to the addition of a new guardhouse at Ingress, security complement adjustments at Eikestad Mall and Mall of Africa, and the conversion of Magwa View to a multi-tenant property

• Repairs and maintenance costs increased as planned building

  rejuvenation projects were undertaken across the portfolio in line with lifecycle management programmes

• Cleaning costs increased following the conversion of Magwa

  View to a multi-tenant property, with cleaning services now incurred by the property rather than a single client

• Depreciation, deferred leasing costs and tenant installation

  amortisation increased due to higher amortisation on new leases, including the Cell C renewal

• Insurance expenses increased primarily due to higher SASRIA

  insurance premiums

• Parking expenses increased as additional basement parking facilities came online and on-site staffing levels were expanded at Mall of Africa

60 000

R-value of property expenditure (R'000)

50 000

40 000

30 000

20 000

10 000

0

Employee expenses 10.1%, 61 010

Security

13.7%, 58 287

Levies

2.6%, 45 638

Repairs and maintenance 12.8%, 49 528

Cleaning

10.4%, 35 720

Depreciation/ Deferred leasing/TI

16.4%, 23 566

Insurance

18.1%, 23 653

Utility management 12.9%, 7 514

Marketing and advertising 13.8%, 12 150

Parking expenses 39.7%, 11 428

-% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0%

Period-on-period growth in property expense (%)

Not reflected is municipal expenses (4.4%, R753 856 , 64.4%) Size of the circle represents the % of total property expenses

12

Property cost-to-income ratio (%)

1 Calculation: (property expenses per income statement + repayment of lease liability interest + repayment of lease liability capital + municipal recoveries)/ (rental income per income statement - municipal recoveries).

Municipal recovery ratio* (%)

FY26

(outside)

FY25

97.8 94.4 (inside)

* Normalised, adjusted for once-off items

25.0

90.8

13.7

9.1

0.1 0.1

86.2

FY25

actuals

0.1

74.9

FY26 actuals

FY30 forecast

Energy mix (%) Renewable energy Diesel generators

Grid energy

1.8 MWp

Rooftop PV systems installed in FY26

18.4MWp

Rooftop PV systems installed to date

13

Developing Waterfall City Where living works

Developing Waterfall City overview

Completed: Vantage data centre, JNB 12.1 and Ellipse Waterfall, phase 3 (Galileo Tower)

Hotel and Conference Centre construction commenced post year end

R2.2 billion

Total development activity (cost)

85 247 m2

Total development activity (GLA)

Infrastructure spend

Construction commenced on Gateway East and LP3 warehouse

opened

Fourth entrance to Waterfall City

Aspire construction commenced post year end

committed - Phases 1 - 4,

Waterfall City Junction

under construction Izinga Transport Hub

K60 dual carriageway

construction commenced by government

Waterfall City Junction

Phase 1 proclaimed

R1.2 billion in infrastructure spend in Waterfall City (effective R365 million)

3 796

1 411

114.1

62.7

22 784

Gateway East LP3 warehouse

Developments under construction

Client-led warehouse^

Pantry

Waterfall City Conference Centre and Hotel^

Aspire residential

City Lodge expansion

Approved pipeline

Total**

Total effective GLA (m²)

Total effective estimated cost on completion (R'million)

11 071

12 605

23 676

46 460

1 545

4 120

54.3

84.5

131.1

475.7

492.2

361.1

791.3

1 283.5

R'million

Effective development activity** (m2)

Capital investment per m2 by development

R'000 spend per m2 of GLA

40

30

20

10

0

Retail-experience hubs Residential

Hotel

Logistics hubs Collaboration hubs

- Portfolio average

LP3

warehouse

Client-led

warehouse

Aspire

residential

Gateway

East

Pantry

Hotel and

conference

City Lodge

expansion

** Developments under construction and approved pipeline development ^ Agreements to be finalised

Infrastructure development at Waterfall City

Waterfall City infrastructure

Entrance into Waterfall City's inner city

• The fourth entrance into Waterfall City's inner city under construction as part of the successful conversion of c.49 000m2 of collaboration hub rights into 1 150 residential opportunities on LP12

  Sale of the LP12 site

• This infrastructure is unlocked through the conditional sale of the LP12 site to Balwin Properties Limited which is triggered once the infrastructure is completed

  Servicing Waterfall City Junction

• Servicing Waterfall City Junction Phase 1-4 is underway and will unlock more logistics development

  K60 dual carriageway

• The K60 dual carriageway is also under construction, with the anticipated completion date being January 2028

Waterfall City infrastructure

17

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

18

Vantage data centre JNB 12.1 of Phase 2

GLA on completion: 11 151 m²

Land Parcel: 9 North

Sector: Other

Partnership: 50% JV with Vantage Data Centers on the "Dark Shell" and land area

Design efficiencies

• 1 double storey building consisting of 4 data halls

• Projected initial total electrical load of 12MW ramping to 16MW over time

• Majority of the building will contain data

  processing rooms

• Closed loop chilling system

• Initially 6 electrical power generators totalling circa 14MW

• 48-hour backup fuel capacity

• The facility will run 24/7

Practical completion date Q2FY26

19

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

Gateway East

GLA on completion: 12 605 m2

Sector: Collaboration hubs (A-grade) and retail/restaurants Location: Adjacent to Gateway West, Mall of Africa entrance (Waterfall City focal point)

Total development cost: R361.1 million

Estimated practical completion: Q2FY27

Design efficiencies

• Efficient floor plate designs for multi-clients

• Restaurant floor designs that integrate with MOA

• BMS system that will control all installed services in the building

  Sustainability features

• PV system

• 5 days backup water

• Rainwater harvesting

• Smart metering

• Performance glazing and shaded louvres

• EDGE rated

  Sound capital allocation rationale

• Basement is already existing which reduces incremental capex and timeline

• Upgrades Waterfall City's main entrance, activates piazza

  Leasing activity

  Gateway East under construction, Waterfall City

• Signed collaboration hub and restaurant leases to date: 49.1%, with an additional 24.4% of collaboration hub space under offer, totalling 73.4%

  21

  
  
  Aspire Waterfall City

  Sales to date: 164 sales* with a total value of R427.8 million (75.6% of units, 146 units bankable sales, R372.1million)

  GSA on completion: ±14 316m²

  Retail and lifestyle GLA on completion: ±2 163m² Total GSA/GLA on completion: 16 479m2 Partnership: 25% JV with Tricolt

  Total development cost: R456.4 million

  Expected practical completion: Q3FY28

  • Iconic 20 - storey residential tower

  • Incorporated mixed-use component

  • Integrated as part of the Mall of Africa precinct

  • ±217 residential units

  • The second-tallest building in Waterfall City

  • Designed for flexibility with interchangeable unit configurations

  • Dedicated resident access and porte cochère for drop-off

  • Lifestyle area open to the public

  • Street retail with a piazza to activate Karkloof Road

    Rendering of the Aspire Waterfall City residential scheme, Waterfall City

* Gross sellable area

22

Rendering of Pantry store at Mall of Africa, Waterfall City

Pantry

GLA on completion: 1 411 m2

Sector: Retail Experience hubs

Location: Mall of Africa (Karkloof Street retail activation)

Total development cost: R54.3 million

Estimated practical completion: Q3FY27

Integrated holistic approach

23

23

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

Waterfall City Conference Centre and Hotel GLA on completion: 15 883 m² total (180 rooms) Sector: Hospitality and conferencing

Location: South-eastern corner of Mall of Africa

Ownership : 75% AWIC, 25% Rabie Property Group

Total development cost: R634.3 million (AWIC 75% share: R475.7 million)

Estimated practical completion: Q2FY28

Design efficiencies

• Shared back-of-house services between hotel and conference centre

• Leverage of Mall of Africa parkade

  Renderings of the Waterfall City Conference Centre and Hotel development

  Sustainability features

• Reduced parking construction through shared parking strategy

• North-South room orientation to minimise thermal gain/loss

• Design integration with existing precinct infrastructure and pedestrian routes

  Sound capital allocation rationale

• Addresses undersupply of large-scale conference facilities in Waterfall City

• Lease-driven income model

• Enhances Mall of Africa footfall and turnover

• Partnership with experienced operator reduces operational risk

• Strengthens Waterfall City's positioning as a world-class corporate and entertainment node

ATTACQ | Annual results for the year ended 30 June 2026

September 2026

24

Waterfall City Conference Centre and Hotel

25

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

ATTACQ | Annual results for the year ended 30 June 2026

September 2026

26

ATTACQ | Annual results for the year ended 30 June 2026 September 2026

Speculative LP3 warehouse

Sector: Logistics hubs

GLA: 22 142 m2

JV partner: Sanlam 50/50

Location: Waterfall City Junction, phase 1 Total development cost: R262.2 million (effective R131.1 million)

Estimated practical completion: Q3FY27

Sustainability and design features

• 5-day backup water

• 13.5m eave height

• 40m yards

• Solar ready design

• Smart metering for energy and water

  Sound capital allocation rationale

• Unlocks Phase 1 of Waterfall City Junction

• Provides scarce logistics stock in high-demand segment, and client engagement with shorter lead times

• Economy of scale with parallel client-led

development

Financial results

outlook

Improved debt metrics

48.0

36.0

24.0

4.00

2.31

2.95

3.21

25.0

1.41

25.3

1.48

25.4

1.72

37.3

1.95

1.69

37.2

2.13

1.58

43.3

2.06

1.41

3.00

2.00

12.0

0.0

Jun 2021 Jun 2022 Jun 2023 Jun 2024 Jun 2025 Jun 2026

1.00

0.00

LTV (%) (lhs)

ICR (times) (rhs)

Weighted average loan margin (%) (rhs)

Increase from higher NOI (rental escalations, improved occupancy levels and income from newly developed buildings), and lower net finance costs (reduced cost of debt)

Increase from higher NOI (rental escalations, newly completed PV systems, and lower net finance costs (reduced cost of debt)

Prior period included Rest of Africa retail investments once-off disposal and related tax costs

Municipal rates credit recognised

Profit on transfer of share of 215 Ellipse Waterfall units

Normalised distributable income per focus area (excluding Other) (%)

50.3

50.0

50.0

49.7

FY26 outside

FY25 inside

Rest of South Africa Waterfall City

Other investments

R'000

1 000 000

21 139

135 241

(3 445)

(2 930)

(8 740)

888 499

(27 240)

758 433

R713.8m

dividend payment (80.3%

payout ratio)

R174.7m

retained

16 041

900 000

800 000

700 000

600 000

500 000

Increase from net positive fair value adjustments, completion of Vantage JNB 12.1, and development capex, net of Ellipse unit sales and the related reduction in inventory

Increase due to net positive fair value adjustments on investment properties Primarily cash balances

Mainly NAV and forex impact on Lango investment

Increase largely due to second DMTN issuance and tenant installation accruals raised

Balance sheet per focus area (%)

4.00.5

28.5

4.0 0.6

29.1

66.3 66.9

FY26 outside, FY25 inside

Waterfall City

Rest of South Africa Other investments

Head office

34

Investment properties (R'million)

(39.4)

23 089.1

(32.2)

(45.6)

733.3

21 610.5

23 500

23 000

862.5

22 500

22 000

21 500

21 000

Jun 2025 Additions / capex

Completed buildings IFRS 16 ROU*

assets and other

DUC** Leasehold land

Jun 2026

Fair value adjustments

* ROU: Right of use

** DUC: Developments under construction

35

Available liquidity (%)

15.0

Jun 2026

R2.0 billion

43.1

41.9

Unrestricted cash balances Prepaid access facilities

Undrawn committed facilities

^ Calculated as (total interest-bearing debt - unrestricted cash on hand) / (total assets - cash on hand - right of use asset recognised as a result of IFRS 16: Leases)

* Calculated as (total interest-bearing debt + mark-to-market liability on hedging transactions + nominal value of guarantees - unrestricted cash and cash equivalents) / (total assets - goodwill - intangible assets - deferred tax asset - deferred initial lease expenditure - unrestricted cash and cash equivalents - receivables)

** Covenants are only measured on December and June numbers

36

Jun 2026

R7.0 billion

Nedbank Sanlam

Old Mutual

DMTN Noteholders RMB

SBSA

33.1

10.3

9.9

4.4

40.6

4.3

Funding mix (%)

23.0

17.1

25.6

11.4

10.3

FY26 outside

FY25 inside

10.0

Debt and hedge maturity (R'000)

2 500

36.9%

29.5%

29.2%

31.0%

23.1% 1 760

1 627

18.4%

1 042

17.2%

1 208

13.7%

778

1.0%

69

-%

-

2 000

1 500

1 000

500

2 093

2 073 2 049

0

Next 12 months 13 to 24 months 25 to 36 months 37 to 48 months 49+ months

Debt maturity Hedge maturity

Notes:

• Attacq raised R1.01 billion during its second DMTN issuance, further lowering the cost of debt

• Well positioned for ZARONIA transition end December 2026

• Additional hedges will be added as necessary over next 12 months to maintain at least 70.0% hedged position

37

Guidance & prospects

Guidance and prospects

DIPS

cps

150.0

CAGR* from FY21 to FY26 = 21.7%

+6.0% to 136.4

100.0

50.0

+34.2%

+19.9%

+14.5%

+25.6%

+21.7%

2.0

9.0%

0.0

FY21 FY22 FY23 FY24 FY25 FY26 FY27

Guidance assumptions

This guidance has been prepared in terms of International Financial Reporting Standards and in accordance with the SA REIT Association's Best Practice Recommendations (3rd edition) for the calculation of distributable income, and is consistent with the group's accounting policies. The guidance is the responsibility of the board and has not been reviewed or reported on by Attacq's auditors.

Assumptions within Attacq's control

• No material impact on distributable income due to unplanned developments, acquisitions or disposals Assumptions outside of Attacq's control

• Forecasted rental income being achieved based anticipated market-related renewals

• No major changes in vacancy rates

• No significant increase in load-shedding and the resultant increase in costs

• No unforeseen circumstances such as major corporate tenant failures or change of the current macroeconomic environment.

ATTACQ | Annual results for the year ended 30 June 2026

September 2026

39

Questions & answers