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R E S U L T S P R E S E N T A T I O N For the six months ended 31 December 2025
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D I S C L A I M E R Certainstatementsin this documentmay constitute ’forwardlooking statements’.Such forwardlooking statementsreflectthe company’s beliefsand expectationsand involve known and unknown risks, uncertaintiesand otherimportantfactorsthat could causethe actual results,performanceor achievements of City LodgeHotelsLimitedand its subsidiariesto be materiallydifferentfrom the futureresults, performance or achievementsexpressedor impliedby such forwardlookingstatements.City Lodge HotelsLimited undertakesno obligationto updatepubliclyor release anyrevisionsto these forward lookingstatementsto reflecteventsor circumstancesafterthe dateof this document,or to reflectthe occurrenceof anticipated events.Past performanceof City LodgeHotelsLimited cannotbe reliedon as a guide to futureperformance. Forwardlookingstatements speakonly as at the date of this document.Youare cautionednot to place any undue relianceon such forwardlookingstatements.No statementin this documentis intendedto be a profit forecast. This document is being supplied to you for informational purposes only. This document is not a prospectus or An offer or invitation or inducement to subscribe for or purchase any an offer or invitation or inducement to subscribe for or purchase any securities, and nothing contained herein shall form the basis of any contract or commitment whatsoever. This document does not constitute a recommendation regarding the securities of City Lodge Hotels Limited. No representation or warranty, express or implied, is given by City Lodge Hotels Limited, its subsidiaries or any of their respective directors, prescribed officers, employees and affiliates or any other person as to the fairness, accuracy or completeness of the information (including data obtained from external sources) or opinions contained in this document, nor have they independently verified such information, and any reliance you place thereon will be at your sole risk. Without prejudice to the foregoing, no liability whatsoever for any loss howsoever arising, directly or indirectly, from any use of information contained in this document, or otherwise arising in connection therewith is accepted by any such person in relation to such information. None of the data in this document has been reviewed or reported on by the group’s auditors and no guarantee or warranty as to the data’s accuracy, expressed or implied, is given. 2S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 I N T E R I M R E S U L T S
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H Y 2 0 2 6 F I N A N C I A L H I G H L I G H T S AVERAGE ROOM RATE up 4% HY2025: up 10% ADJUSTED EBITDAR R371m HY2025: R319m ADJUSTED HEADLINE EARNINGS R139m HY2025: R110m GROUP OCCUPANCY 61.6% HY2025: 57.4% EARNINGS PER SHARE (DILUTED) 21.5c HY2025: 21.6c DIVIDENDS DECLARED PER SHARE Interim: 8c HY2025: 6c ADJUSTED HEADLINE EARNINGS PER SHARE (DILUTED) 26.1c HY2025: 19.6c 16% 33% 3S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 I N T E R I M R E S U L T S 4.2% points REVENUE R1.14bn HY2025: R1.02bn 12% ADJUSTED EBITDAR MARGIN 32.5% HY2025: 31.2% 1.3% points HEADLINE EARNINGS PER SHARE (DILUTED) 21.5c HY2025: 21.6c 27% points 33% CASH GENERATED BY OPERATIONS R347m HY2025: R250m 39%
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O P E R A T I O N A L R E V I E W • Group occupancy – 61.6% up 4.2% points from HY2025 • Average room rates – up by 4% (HY2025: up by 10%) • Revenue – up by 12% to R1.14 billion (HY2025: R1.02 billion) • Rooms revenue – up 10% to R898.6 million (HY2025: R815.0 million) • Food & beverage revenue – up 17% to R233.9 million (HY2024: R200.2 million) and contributes 20.5%of total revenue (HY2025: 19.6%) • Total operating expenses have increased by 9% during the period. However, operating cost per roomsold increased by only 3% • Adjusted EBITDAR (excludingunrealised(losses)/gains on foreign exchange) – R371.4 million, margin32.5% (HY2025: R319.2million, margin 31.2%) • Revenue and Adjusted EBITDAR growth by segment: • Adjusted headline earnings – up 27% to R139.3 million (HY2025: R109.5 million) • Adjusted diluted headline earnings per share – up 33% to 26.1 cents (HY2025: 19.6 cents) 4S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 I N T E R I M R E S U L T S Segment Revenue growth Adjusted EBITDAR growth Courtyard Hotel 7% 7% City Lodge Hotel 10% 14% Town Lodge 18% 30% Road Lodge 13% 15% Rest of Africa 12% 27%
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C A P I T A L A L L O C A T I O N • The group repurchased 36 million(6%) of issued shares at anaverage price of R4.00 per share, for a total consideration of R145 million. • Cash generated by operations increased by 39% to R347.3 million (HY2025: R250.5 million). • Group has access to R600 million of interest-bearing borrowing facilities, which maturesbetween30 June 2028 to 30 June 2030, and aR115 million overdraft facility. As at the 31 December 2025, R170 million of the debt facility was utilised and the group had a cash and cash equivalent balance ofR48.3 million. • Optimisation of portfolio through the closure of loss-making hotels: • The sale ofCourtyardHotel (CY) Arcadia completedon 13 February 2026 for a gross consideration of R37.3 million. The funds have been used tosettle some of thedebt. • City LodgeHotel (CL) Newtown lease which terminates on 31 May 2026 is not being renewed, and the hotel is scheduled to close on 31 March 2026. • Capital expenditure of R155 million includes: • R152 million maintenance capex inclusing the completion of the refurbishment and modernisation programmes at CL JNB International Airport – Barbara Road, CY Gqeberha, and the commercial area and restaurants atCL Umhlanga Ridge and CL V&A Waterfront. • Interim dividend declared of 8 cents (gross) up 33% from 6 cents in HY2025. I N T E R I M R E S U L T S 5S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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C O U R T Y A R D H O T E L G Q E B E R H A R E F U R B I S H M E N T 6 C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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7 C O U R T Y A R D H O T E L G Q E B E R H A R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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8 C I T Y L O D G E H O T E L J N B I N T L A I R P O R T B A R B A R A R O A D , R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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9 C I T Y H O T E L U M H L A N G A R I D G E R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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10 C I T Y H O T E L U M H L A N G A R I D G E R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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11 C I T Y H O T E L V & A W A T E R F R O N T R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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12 C I T Y H O T E L V & A W A T E R F R O N T R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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13 C I T Y H O T E L V & A W A T E R F R O N T R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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14 C I T Y H O T E L V & A W A T E R F R O N T R E F U R B I S H M E N T C A P I T A L A L L O C A T I O N C O N T I N U E D I N T E R I M R E S U L T SS I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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G R O U P H O T E L P O R T F O L I O I N T E R I M R E S U L T S 15S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 Appealing to business, leisure and long-stay travellers looking for upmarket accommodation. Delighting in giving guests what its slogan promises, which includes the group’s environmentally- friendly bathroom amenities. Properties are smart and aesthetically pleasing, with plenty of parking and fast, reliable WiFi. Economy with all of the operational processes and friendly service promises offered at any of the group’s properties.
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O U R O P E R A T I N G F O O T P R I N T I N T E R I M R E S U L T S 16S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 57 hotels 7 305 rooms 49.30% of rooms 4 Courtyard Hotels 18 City Lodge Hotels 12 Town Lodges 23 Road Lodges 405 rooms 3 120 rooms 1 507 rooms 2 273 rooms
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G R O U P S T R U C T U R E I N T E R I M R E S U L T S 17S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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18 S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 I N T E R I M R E S U L T S O U R B O A R D Bulelani Ngcuka Chairman & independent non-executive director Frank Kilbourn Deputy chairman & Independent non- executive director Andrew Widegger Chief executive officer & executive director Deon Huysamer Independent non- executive director Dr Sizakele Marutlulle Independent non- executive director Lindiwe Siddo Chief operating officer & executive director Dhanisha Nathoo Chief financial officer & executive director Stephen Enderle Non-executive director Mathukana Mokoka Independent non- executive director Karen Classen Independent non- executive director
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19S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 I N T E R I M R E S U L T S O U R M A N A G E M E N T T E A M Andrew Widegger Chief executive officer Dhanisha Nathoo Chief financial officer Lindiwe Siddo Chief operating officer Naynesh Parbhoo Divisional director Financial Marcel Kobilski Divisional director Human resources Ross Phinn Divisional director Operations Melanie van Heerden Group company secretary Zuki Jantjies Divisional director Sales & marketing Emile van der Merwe Divisional director Property & development Nkosenhle Ngongoma Divisional director Information technology
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T O P 2 0 I N V E S T O R S A S A T E N D D E C E M B E R 2 0 2 5 I N T E R I M R E S U L T S 20S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5 Rank Top20 Investors % Holding 1 Allan Gray 14,78% 81 973 856 2 Enderle SA (Pty) Ltd 9,80% 54 358 553 3 Abax Investments 7,87% 43 633 858 4 Peregrine Capital 6,43% 35 637 273 5 HSBC Securities SA 5,41% 29 997 909 6 Ninety One 5,30% 29 407 345 7 Entertainment Holdings (Pty) Ltd 2,86% 15 833 055 8 Oasis Crescent Management Company 2,78% 15 427 303 9 New Shelf 934 (Pty) Ltd 2,55% 14 156 937 10 New Shelf 892 (Pty) Ltd 2,55% 14 156 571 11 All Weather Capital 2,26% 12 504 982 12 Absa Group 1,86% 10 312 718 13 Stanlib 1,70% 9 450 868 14 Rezco Collective Investments 1,49% 8 270 066 15 New Shelf 935 (Pty) Ltd 1,28% 7 080 400 16 Sanlam Investment Management 1,19% 6 622 568 17 Excelsia Capital 0,99% 5 461 871 18 Ashburton Investments 0,95% 5 258 432 19 The Boles Family Trust 0,87% 4 825 000 20 (wip)widegger Andrew Crawford Mr 0,68% 3 780 131 73,61% 408 149 696
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O U T L O O K • Pace of economic growth in South Africa is improving following the momentum from the last quarter of the 2025 calendar year. • January 2026 – Total revenue is up 4% - ARR is up 9%; F&B revenue is up 9%, however occupancy is down by 2% points to 42% (2025: 44%). • February to date 2026 – Total revenue is up 5% - ARR is up 11%; F&B revenue is up 11%,howeveroccupancy is down by 4% points to 56% (2025: 60%). Slow start to month however momentum has picked up since 9 February. • We expect the positive momentum over the last two weeks to continue over the balance of the financial year. • Strong pipeline of environmentalresilience projects planned for the next 12 months. • Lease addendumhas been signedfor the expansion of CL Waterfall City by a further 55 rooms.Completion of construction is expected by March 2027 • Continue to seek and pursue opportunities for new hotels in high growth areas within South Africa. I N T E R I M R E S U L T S 21S I X M O N T H S T O 3 1 D E C M E B E R 2 0 2 5
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life is hard. check into easy.