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Audited consolidated financial statements for the year ended 29 February 2024
EXEMPLAR REITAIL LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2018/022591/06
JSE share code: EXP
ISIN: ZAE000257549
LEI: 3789000558287E37F130
Approved as a REIT by the JSE
("Exemplar" or "the company")
SHORT FORM ANNOUNCEMENT: AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
Total cash distribution for the 12 months ended 29 February 2024 of 138,93645 cents per share
Loan-to-value ratio of 36.5%
NAV per share of R14,75
An increase of 7.35%
NATURE OF BUSINESS
Exemplar is a listed Real Estate Investment Trust ("REIT") which owns and manages 26 retail assets with a combined GLA
of 414 530m2 across five provinces of South Africa. Our core focus is the provision and management of retail services
to previously under-serviced regions.
KEY FINANCIAL INFORMATION
Audited for the Audited for the
12 months ended 12 months ended %
29 February 2024 28 February 2023 Change
Rental and recovery income (R'000) 1 219 692 1 047 495 16.4
Net property income (R'000) 784 148 692 537 13.2
Net property income before operating lease equalisation (R'000) 774 502 651 466 18.9
Basic earnings per share (cents) 213.27 293.52 (27.3)
Headline earnings per share (cents) 113.50 141.53 (19.8)
Diluted earnings per share (cents) 207.16 288.46 (28.2)
Diluted headline earnings per share (cents) 110.25 139.09 (20.7)
Net asset value per share (Rand) 14.75 13.74 7.4
Total distribution per share (cents) 138.93645 141.12192 (1.5)
Interim dividend per share (cents) 64.27220 68.71483 (6.5)
Final distribution per share (cents) 74.66425 72.40709 3.1
Final dividend per share (cents) 57.03275 72.40709
Return of contributed tax capital per share (cents) 17.63150 -
DISTRIBUTION FOR THE SIX MONTHS ENDED 29 FEBRUARY 2024
Exemplar has declared a distribution of 74.66425 cents per share for the six months ended 29 February 2024
(the "final distribution") which comprises a dividend of 57.03275 cents per share and a return of contributed
tax capital of 17.63150 cents per share, in total an increase of 3.1% on the corresponding period, which
together with the interim distribution of 64.27220 cents per share for the six months ended 31 August 2023
equates to a total distribution for FY2024 of 138.93645 cents per share, a decrease of 1.5% on the prior year.
An announcement relating to the salient dates and the tax treatment of the final distribution will be released
on SENS separately.
SHORT FORM ANNOUNCEMENT
This short form announcement is the responsibility of the Board of Directors. It is a summary of the audited annual
financial statements for the year ended 29 February 2024 (the "FY2024 AFS") released on SENS on 27 May 2024
and does not contain full or complete details.
The FY2024 AFS can be accessed using the following JSE link:
https://senspdf.jse.co.za/documents/2024/jse/isse/expe/FY2024.pdf as well as via Exemplar's website
https://exemplarreit.co.za/AFS/EXPAFS2024.pdf. Any investment decisions made by investors and/or shareholders
should be based on consideration of the FY2024 AFS. The FY2024 AFS are available for inspection at the
registered office of the company (204 Von Willich Avenue, Clubview, Centurion, 0157) and the office of the
sponsor, Java Capital (6th Floor, 1 Park Lane, Wierda Valley, Sandton, 2196) at no charge during normal business
hours from Tuesday, 28 May 2024 to Monday, 3 June 2024.
Exemplar also voluntarily publishes supplementary information to the FY2024 AFS, which includes, inter alia, directors'
commentary and is available on the company's website at https://exemplarreit.co.za/YER/EXPSuppInfoFY2024.pdf
This short form announcement has not been audited or reviewed by Exemplar's external auditors. The FY2024 AFS
have been audited by BDO South Africa Inc, who expressed an unmodified audit opinion thereon. The auditor's
opinion also includes communication of the key audit matter, being the valuation of investment property.
The opinion is available, along with the FY2024 AFS, on Exemplar's website.
For and on behalf of the Board
27 May 2024
Executive directors Jason McCormick (CEO), DA Church (CFO), John McCormick
Non-executive directors FM Berkeley (Chairman), PJ Katzenellenbogen (Lead independent director), GVC Azzopardi,
N Mandindi, EP Maponya
Company Secretary A Booysen
Registered Office 204 Von Willich Avenue, Clubview, Centurion, 0157, PO Box 12169, Clubview, 0014
Transfer Secretaries Computershare Investor Services Proprietary Limited, Rosebank Towers,
15 Biermann Avenue, Rosebank, Johannesburg, 2196, PO Box 61051, Marshalltown, 2107
Auditor BDO South Africa Inc
Sponsor Java Capital
Date: 27-05-2024 09:30:00
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