aReit PROP LIMITED - Trading Statement

Trading Statement

AREIT PROP LIMITED
Approved as a REIT
(Incorporated in the Republic of South Africa)
(Registration number 2021/837953/06)
("the Company")
ISIN Code: ZAE000306585 | JSE Code: APO

TRADING STATEMENT

In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies are
required to publish a trading statement as soon as they are satisfied that a reasonable degree of
certainty exists that the financial results for the period to be reported on will differ by at least 20%
from the financial results for the previous corresponding period or a profit forecast previously
provided to the market in relation to such period.

Accordingly, shareholders are advised that a reasonable degree of certainty exists that, for the
six months ended 30 June 2023, the basic earnings per share will be 19.88 cents, representing a
decrease of approximately 37.8% compared to the basic earnings per share of 31.98 cents
reported for the six months ended 30 June 2022.

The headline earnings per share for the six months ended 30 June 2023 are expected to be in line
with the results reported in the previous corresponding period.

The reason for the variance in the basic earnings per share is attributable to the fact that the prior
year did not have a fair value adjustment approximating the lease straight-lining adjustment,
which was incorporated in the results for the year ended 31 December 2022.

This financial information has not been reviewed or reported on by the Company's auditors.

Cape Town
31 October 2023

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 31-10-2023 05:30:00
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