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Unaudited condensed consolidated interim results for the six months ended 31 August 2026

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4.5% NAV PER SHARE GROWTH FROM FEB-26 72.57cps INTERIM DPS TRANSLATING TO 5.1% ON 1H26 OF 69.04CPS 100% DISTRIBUTION PAY-OUT RATIO SHAREHOLDER VALUE SOLAR CAPACITY AT 28.2MW 75% OF PORTFOLIO WITH SOLAR Level 2 B-BBEE MAINTAINED RATING ENVIRONMENTAL, SOCIAL AND GOVERNANCE The six months in review R600 million SPENT ON DEVELOPMENTS AND ACQUISITIONS £200.5 million CONCLUSION OF AVIVA PORTFOLIO DISPOSAL DURING MAY-26 REPRESENTING SUBSTANTIAL STEP TOWARDS THE CONCLUSION OF THE UK EXIT 1.5% VACANCY AT AUG-26 PORTFOLIO MOVEMENTS R650 million RAISED IN THE DCM (5-YEAR AT Z+103; 3-YEAR AT Z+90) 28.1% LTV AT AUG-26 (FEB-26: 35.1%) R2.9 billion CASH AND UNDRAWN FACILITIES AT AUG-26 (FEB-26: R3.1BN) STRONG BALANCE SHEET This report is best viewed in Adobe Acrobat. Navigation tools at the top right of each page are indicated as follows: QUICK NAVIGATION TOOLS RETURN TO PREVIOUS VIEW PREVIOUS 1 PAGE CONTENTS PAGE NEXT 1 PAGE 2 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026

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Commentary 3 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026

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Commentary 2. OPERATING ENVIRONMENT The operating backdrop marks a decisive change from the disinflationary, rate-cutting environment reported at 1H26 and FY26, as the world enters a higher interest rate cycle driven by escalating geopolitical tensions and their upward impact on CPI. The SARB’s easing cycle, which delivered a cumulative 150bp worth of cuts to November 2025, gave way to two 25bp hikes in May 2026 and September 2026, taking the repo rate to 7.25%. Currently, the forward rate agreements are pricing in at least one more interest rate hike from the SARB over the next six months. The shift in policy direction has coincided with the SARB’s formal adoption, in November 2025, of a narrower 3% (±1%) point inflation target, replacing the previous 3–6% band. This has left less room to absorb price shocks: an oil price shock lifted headline CPI to 5.0% in June 2026 – a ten-month high and above the upper end of the new target range – with a moderation to 4.4% by August 2026. The reversal in the interest rate cycle reinforces the rationale for the Group’s hedging strategy. The primary purpose of interest rate hedging is to provide certainty over the cost of debt when pricing and appraising investment decisions, particularly developments. A secondary benefit is that, in a rising interest rate environment, the majority of the debt book is insulated from increases in benchmark rates, limiting the impact on the Group’s cost of debt. The corollary is that, in a declining interest rate environment, lower reference rates flow through to the cost of debt more gradually, which is an accepted consequence of prioritising funding certainty. Despite the tightening in monetary policy, listed property performed strongly, delivering a total return of 10.5% in the second quarter of 2026, outperforming both bonds (7.9%) and equities (-2.4%). The sector is forecast to deliver a total return of 12–14% over the next 12 months, reflecting continued investor confidence in the underlying quality of the asset class notwithstanding the more uncertain rate outlook. 1. EXECUTIVE SUMMARY Equites declared an interim distribution of 72.57cps for the six months ended 31 August 2026, 5.1% ahead of 1H26, and reaffirms full-year guidance of 147.7–150.5cps, representing growth of 5–7% on FY26 at a 100% pay-out ratio. The highlight of the period was the substantial completion of the Group’s UK exit, with the ultimate purpose being the recycling of that capital into SA logistics. The Aviva portfolio, comprising five income-producing assets, was disposed. Of the three remaining UK assets, DHL Leeds is being marketed with disposal anticipated within the next 12 months. Capital deployment into SA accelerated, with R600 million of development and acquisition spend. Six developments are currently underway, representing R2.0 billion of capital value on completion and R1.0 billion of remaining spend, all to be developed at yields on cost of 8–9%. Two new sites were secured: a site in Boksburg awarded by DHL through a formal RFP process, and, through RLF, a site in Benoni let to Shoprite on a new ten-year lease. LfL valuation growth in the SA portfolio was 2.8%, income-driven rather than the product of yield compression. The balance sheet ended the period conservatively positioned, with an LTV of 28.1% (Feb-26: 35.1%) and R2.9 billion of cash and undrawn facilities. The Group raised R650 million in the debt capital markets in June 2026 at spreads of 37bp and 21bp tighter than its previous 3-year and 5-year issuances, while the interest rate hedging insulates the Group from the SARB’s resumed tightening cycle. Equites is well positioned to fund substantial capital deployment from existing balance sheet headroom, without recourse to the debt or equity capital markets, and will progressively restore its gearing to its through-the-cycle range. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 4 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 3. STRATEGY 3.1 CONCLUSION OF AVIVA DISPOSAL AND USE OF PROCEEDS The disposal of the Aviva portfolio was concluded against a UK macroeconomic backdrop that remained challenging. This was characterised by persistently elevated gilt yields and subdued rental growth, which continued to constrain capital appreciation across the UK logistics sector. These conditions reinforced the Board’s view that the portfolio had largely realised its available value under the current cycle, supporting the timing of the Group’s exit. In line with this strategy, the Group concluded the disposal of the Aviva portfolio, comprising five income-producing properties, for a consideration of £200.5 million in May 2026. Net proceeds of £95 million were released to Equites following settlement of the associated debt facility. This disposal marked a significant milestone in the Group’s planned exit from the UK. Proceeds from the Aviva disposal were not immediately redeployed into acquisitions or developments, as the current pipeline was not of sufficient scale to absorb the full quantum, and suitable acquisition opportunities meeting the Group’s investment criteria and return thresholds were limited. Early debt repayment was similarly constrained, with revolving credit facilities undrawn and no ability to redeem listed DCM debt ahead of maturity. In light of these constraints, the Group elected to invest the surplus proceeds in highly liquid, UK-listed logistics REITs. This is a temporary measure: these holdings are not intended to be held long-term and will be liquidated to fund the Group’s development and acquisition pipeline in SA as suitable opportunities arise. The Group has three remaining assets in the UK, namely DHL Leeds, Thrapston and Basingstoke. The rent review at DHL Leeds was settled at a renewed base rent of £9.17/sq ft (with the lease including a 1.7x multiplier to the base rent), an uplift of 53% from the previous base rent of £6.00/sq ft, providing a firmer income base from which to market the asset. Equites has commenced a disposal process and anticipates concluding a sale within the next 12 months. The property is unencumbered, allowing the full proceeds to be recycled into the SA development pipeline at higher returns. Equites expects to receive the final payment in relation to the JD.com development at Coton Park in October 2026, further reducing its UK exposure as the Group continues to unwind from its position in the UK. This is classified as a receivable as at August 2026. Equites expect Newlands to draw down on the land option over Thrapston in 2H27. Management’s strategy towards Basingstoke remains unchanged from FY26. This is to commit limited capital towards the scheme, while being intentional about finding a solution that maximises shareholder value. 3.2 ACCELERATED SA CAPITAL DEPLOYMENT Within listed property, industrial and logistics assets remain the standout performer. Structural undersupply persists across prime, well-located logistics nodes, with new development continuing to lag tenant demand from retailers upgrading supply chains, third-party logistics providers expanding fulfilment capacity to meet e-commerce growth, and FMCG operators investing in modern, efficient facilities. This supply-demand imbalance continues to support low vacancies and sustained rental growth across the sector, and underpins the Group’s continued focus on accelerating capital deployment into the SA logistics market. With GDP growth remaining subdued, tenants and corporates are increasingly turning to supply chain optimisation, rather than broader capital expenditure, to protect operational performance. This dynamic has been reinforced by the oil price shock noted in section 2, with elevated fuel costs increasing the imperative for occupiers to prioritise efficient, well-located logistics space capable of reducing transport and inventory costs. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 5 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 3. STRATEGY (CONTINUED) 3.3 CAPITAL STRUCTURE OPTIMISATION Equites manages its capital structure with the objective of maximising risk-adjusted returns to shareholders while operating conservatively within its covenant thresholds. The disposal of the Aviva portfolio reduced the Group’s debt significantly, leaving the balance sheet under-geared relative to the Group’s through-the-cycle target range. Management is focused on the disciplined redeployment of repatriated UK proceeds into development and acquisition opportunities that clear the Group’s required return hurdles, restoring gearing towards target levels and delivering both scale and accretive income growth. Management remains committed to maintaining an active presence in the debt capital markets, principally to refinance maturing notes and preserve the Group’s standing with debt investors. Equites was successful in raising R650 million through the issue of a 3-year and 5-year note in June 2026, at ZARONIA+90bp and 103bp, respectively. This is 37bp and 21bp tighter than the previous 3-year and 5-year issuances. Where issuance opportunities allow the weighted average debt maturity to be extended at a marginal cost consistent with the Group’s targeted cost of funding, management would look to take advantage of them. That said, existing balance sheet headroom is sufficient to fund a substantial quantum of capital deployment without accessing either the debt or equity capital markets. Through capital deployment into logistics assets, the high net cash position will slowly unwind, increasing the Group’s LTV closer to its target range. 3.4 TOTAL RETURN Equites remains committed to delivering sustainable distribution growth ahead of inflation over the long term. This will be achieved through a combination of LfL rental growth, the successful execution of its development pipeline and continued optimisation of its cost of funding. Revenue growth was impacted by rental reversions and brief periods of vacancy on the speculative developments. These impacts are incorporated into the guidance given for FY27. In addition to distribution growth, Equites continues to demonstrate the underlying strength of its portfolio through sustained valuation growth over the long term. The SA portfolio delivered a valuation uplift of R587 million, resulting in a compelling total accounting return of c.18.5% on an annualised basis. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 6 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 4. FINANCIAL PERFORMANCE 4.1 DISTRIBUTION PER SHARE Distribution per share increased by 3.53 cents on 1H26, underpinned by strong LfL rental growth in the SA portfolio. This performance reflects the strong platform built through lease renewals concluded over the past two financial years, as well as RLF’s long-dated leases, which continue to provide a secure foundation for income growth. LfL rental growth of 5.3% was achieved after absorbing negative rental reversions on the Waterfall portfolio (6.1% growth excluding the Waterfall properties). Following a period in which escalations outpaced market rental growth, these assets are now let at market rentals and are expected to contribute to DPS growth going forward. Short periods of vacancy also weighed on growth, most notably at Meadowview site 1-D, which was untenanted for most of the period, and at the Lords View site previously occupied by Skyworth. The Meadowview site has since been let, with the lease commencing on 1 September 2026. Taking these factors into account, LfL rental growth in SA contributed 4.18 cents. The write-down of ENGL and derecognition of sites land parcels has resulted in a dilutionary impact to Equites. The write-downs on Peterborough West, Goldthorpe and Thrapston detracted 1.37 cents. The conclusion of the UK disposal, and the resulting reduction in admin costs associated with this segment, drove the improvement in the distributable portion of admin costs. Gross admin expenses were higher, largely due to the higher IFRS 2 share-based payment charge to the income statement. This is a non-cash item which does not impact distributable earnings. The tightening in the cost of debt compared to 1H26 contributed 1.07 cents. The Aviva portfolio disposal, while fundamentally positive for the business, was a slight detractor from DPS. Although the portfolio was sold at a yield of 5.5%, the positive carry on the debt funding effectively resulted in a total yield of c.7%. As the development pipeline ramps up, the capital currently held in listed equities will be redeployed into higher-yielding assets, realising the accretion profile over time. The dilutionary impact of the Aviva portfolio disposal was 0.71 cents. Development dilution detracted a further 0.58 cents, partially offset by a 0.29 cent contribution from solar and other income. 65 1H26 DPS LfL RENTAL ENGL CHANGE IN ADMIN FUNDING COST AVIVA DILUTION DEVELOPMENT DILUTION SOLAR AND OTHER INCOME 1H27 DPS • INCREASE • DECREASE • TOTAL DPS BRIDGE 69.04 4.18 -1.37 0.65 1.07 -0.71 -0.58 0.29 72.57 CENTS EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 7 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 4. FINANCIAL PERFORMANCE (CONTINUED) 4.2 NAV PER SHARE NAV per share increased by 4.5% to R17.43, up from R16.69 at February 2026, driven primarily by LfL valuation uplifts. The largest contributor was the fair value uplift on the SA income-producing portfolio, which added 47 cents. Total fair value movements in the SA income-producing portfolio amounted to R587 million. Equites’ investment in UK REITs added a further 12 cents, as Prologis’ offer to acquire 100% of Segro allowed the Group to crystallise a positive mark-to-market on the position. Selling the Aviva-owning entities derecognised the deferred tax, contributing 18 cents. The sale of the Aviva portfolio, slightly below book value, detracted 7 cents. Management elected to proceed with the sale despite the discount to book, given the economic uncertainty at the time, with 10-year gilt yields tracking well above 5%. The ENGL write-downs recognised on Goldthorpe and Thrapston detracted a further 5 cents. 4.3 LTV The loan-to-value ratio reduced by 7 percentage points from 35.1% at February 2026 to 28.1% at August 2026, driven primarily by the usage of UK disposal proceeds for R2 billion net of debt settlement. This was partially offset by the reinvestment of UK proceeds into UK REITs, which allows for gradual disinvestment and deployment into developments without negative carry implications. Given the reduced UK exposure, there is minimal impact from changes in the GBP/ZAR exchange rate. An aggregate R600 million of development and acquisitive spend increased LTV. LTV RATIO BRIDGE 35.1 0.8 0.3 % 15 NAV FY26 FV UPLIFT ON IP FV GAIN ON LISTED SHARES DEFERRED TAX AVIVA WRITE DOWN ENGL FX FV ON DERIVATIVES NAV 1H27 • INCREASE • DECREASE • TOTAL 16.69 0.47 0.12 0.18 -0.07 -0.05 0.04 0.05 17.43 RANDS Foreign exchange movements contributed 4 cents. In addition, movements in the swap curve, reflecting the change in the interest rate environment, improved the mark-to-market position on the Group’s interest rate swap book, adding 5 cents. Overall, NAV per share increased by 74 cents, with the strength of the SA portfolio and the Segro mark-to-market offsetting any dilution from the UK exit and ENGL write-downs. NAV BRIDGE FY26 DEVELOPMENTS ACQUISITIONS DISPOSALS UK EQUITIES VALUATIONS 1H27 20 • INCREASE • DECREASE • TOTAL -10.8 3.5 -0.8 28.1 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 8 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 5. PROPERTY PORTFOLIO The Group’s portfolio value decreased from R28.7 billion at February 2026 to R25.4 billion. This is mainly due to the disposal of the Aviva portfolio. Other movements include R138 million relating to acquisitions (section 5.1), ongoing SA development spend (section 5.2) of R421 million and fair value uplifts on the SA income-producing portfolio (section 5.3) of R587 million. There was one property disposal in SA, Digistics Waterfall, which was held-for-sale at FY26 and sold for R117 million in April 2026. SA land for future development comprises 1.2% of the portfolio (Feb-26: 1.0%) and it has become a strategic imperative to find new land opportunities for future developments. Land has been successfully procured in September 2026 in the Riverfields, Witfontein area along the R21 highway corridor through the strategic partnership with Tridevco, and the Group is exploring options to bring further land onstream through outright purchases or through land options. Properties under development comprise 4.7% of the portfolio (Feb-26: 3.2%), and are expected to be completed over the next 12 months, adding R2.4 billion to the income-producing portfolio. 5.1 ACQUISITIONS Equites acquired a site in Boksburg, having been selected as the preferred developer and landlord through a formal RFP process. The award secured the Group’s first lease with DHL in SA, adding a further international 3PL occupier to its tenant base. The site will be developed into a 20 540m² distribution facility servicing DHL’s bulk distribution requirement for Colgate-Palmolive. The total acquisition cost was R32 million with the total development cost expected to be R221 million. RLF acquired a site in Benoni, which has been let to Shoprite on a new 10-year lease. The site was acquired for R91 million, with further development spend of c. R187 million expected during 2H27. The strength of RLF’s Shoprite leases continues to drive annual fair value uplifts on valuation, releasing equity within the structure. This growing equity headroom provides RLF with a platform from which to fund further development and acquisition activity year-on-year. 73.7% 3.3% 17.1% 0.4% 1.0% 3.2% 1.3% 1.8% 86.0% 4.7% 1.2% 2.0% • SA LOGISTICS • SA NON-CORE ASSETS • SA DEVELOPMENTS • SA LAND • SA HELD-FOR-SALE • UK HELD-FOR-SALE • UK TRADING PROPERTY 0.3% 4.0% FEB-26 R28.7bn AUG-26 R25.4bn EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 9 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 5. PROPERTY PORTFOLIO (CONTINUED) 5.2 DEVELOPMENTS Development activity remained the Group’s primary avenue for capital deployment, with R0.4 billion of development spend incurred. Seven projects are currently underway, representing approximately 200 000m² of GLA and R2.4 billion of capital value on completion, of which R1.3 billion remains to be spent. All are to be developed at yields on cost of 8–9%, ahead of the Group’s marginal cost of debt, and are scheduled for completion between September 2026 and August 2027. The pipeline is predominantly pre-let. The Tiger Brands facility at Riverfields (89 000m²), Takealot Fulfilment Solutions (TFS) at Riverfields (34 800m²), Shoprite at Benoni and DHL at Boksburg together account for bulk of the capital value, with Premier FMCG at Lords View completing the tenanted pipeline. Two speculative units, at Jet Park and Riverfields, are currently under development, comprising 36 631m² and R420 million of capital value in aggregate, of which only R73 million remains outstanding; both completing during 2H27 and are being actively marketed. The Group’s effective interest in the Tiger Brands and TFS developments is 50%, Shoprite is 50.1% and 75% at Lords View. TENANT LOCATION EXPECTED GLA (M2) CAPITAL VALUE OUTSTANDING YIELD COMPLETE OWN % DEVELOPMENTS COMPLETED DURING 1H27 Sailun Africa Meadowview 12 206 R160m 8%-9% 100% DEVELOPMENTS UNDERWAY Tiger Brands Riverfields 89 000 R995m R500m 8%-9% Apr-27 50.0% Speculative Jet Park 17 000 R210m R41m 8%-9% Sep-26 100% Speculative Riverfields 19 631 R210m R32m 8%-9% Oct-26 100% Premier FMCG Lords View 7 226 R94m R33m 8%-9% Oct-26 75% Shoprite Benoni 10 944 R278m R187m 8%-9% Dec-26 50.1% DHL Boksburg 20 540 R221m R183m 8%-9% Jun-27 100% TFS1 Riverfields 34 800 R420m R280m 8%-9% Aug-27 50.0% 1 Development commenced September 2026 5.3 VALUATIONS As at August 2026, 100% of the Group’s income-producing assets (excluding assets held-for- sale) were externally valued. LfL valuation growth in the SA portfolio was 2.8% from FY26. The portfolio’s weighted average net initial yield is 7.98%, or 8.32% excluding the Shoprite assets within RLF, highlighting the value uplift associated with long-dated leases. TYPE OF PROPERTY % OF INCOME- PRODUCING PORTFOLIO AVERAGE VALUE (R/M2) DISCOUNT RATE NET INITIAL YIELD Modern logistics facilities 66% 13 403 12.5% 7.8% Logistics campus 27% 15 741 12.5% 8.3% Cross-dock/Ultra-low coverage 6% 14 042 13.0% 8.6% Other 1% 21 727 12.8% 8.3% TOTAL 14 076 12.5% 8.0% The uplift achieved was income-driven rather than the product of yield compression as valuers held discount rates broadly flat at 12.5–13.0%, with the growth instead reflecting stronger in-place and market rentals as sustained 3PL and retailer demand continues to meet constrained supply in the Group’s core nodes. Valuations also continue to capture the benefit of the Group’s disciplined base-build strategy. A-grade specifications – yard capacity, height to eaves, flooring quality, ventilation and security – support letting demand beyond initial lease terms, which preserves terminal value assumptions, reduces ongoing maintenance requirements and creates optionality for sustainability-linked income. The Group is also seeing the impact of its PPAs signed on the value of its income-producing portfolio. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 10 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 6. OPERATIONAL UPDATE 6.1 LEASES Equites concluded both new leases and renewals across the portfolio, further diversifying the tenant base. Two new tenants were introduced in Meadowview, Sailun Africa took occupation of 12 206m² at site 1-F on a five-year lease escalating at 7.0% per annum, and P.Serassis secured 5 097m² at site 1-D on a ten-year term escalating at 6.5% per annum. The differential in contractual escalation reflects the Group’s policy of trading a lower escalation rate for greater lease duration, prioritising income certainty and WALE preservation over near-term rental growth. Equites also completed two renewals with existing tenants in the Meadowview node. These renewals cover c.26 000m² of GLA, with a further 66 645m² coming up for renewal in FY28. WEIGHTED AVERAGE LEASE EXPIRY BY REVENUE (YEARS) AUG-26 FEB-26 AUG-25 SA – Logistics 13.1 13.8 14.2 SA – Industrial 11.9 7.3 7.6 GROUP WEIGHTED AVERAGE LEASE EXPIRY 13.0 13.7 14.1 LEASE EXPIRY PROFILE LEASE EXPIRY PROFILE BASED ON RENTABLE AREA BASED ON CONTRACTUAL REVENUE 6.2 LEASE ESCALATION The SARB’s move from the 3–6% inflation target range to a 3% point target has structurally lowered the inflation benchmark against which commercial lease escalations are measured. Over time, lower inflation should also anchor lower interest rates, with valuers likely to moderate the escalation assumptions and growth rates underpinning property valuations. Equites’ weighted average escalation of 6.1% across the portfolio therefore represents real rental growth significantly above the inflation target. WEIGHTED AVERAGE ESCALATION BY GLA (%) AUG-26 FEB-26 AUG-25 SA – Logistics 6.1 6.1 6.1 SA – Industrial 5.9 6.8 6.8 SA – TOTAL 6.1 6.1 6.1 6.3 VACANCY VACANCY PROFILE AUG-26 FEB-26 AUG-25 Logistics 1.5% 0.3% 1.5% The portfolio had three vacancies at August 2026. One of these, a 12 206m² facility in Meadowview, has been let to an A-grade tenant, with beneficial occupation from 1 September 2026 and the remaining two are currently being marketed for occupation. • VACANT/MONTHLY • WITHIN 1 YEAR • WITHIN 2 YEARS • WITHIN 3 YEARS • WITHIN 4 YEARS • WITHIN 5 YEARS • BEYOND 5 YEARS 1 4 7 5 3 10 70 — 2 9 3 5 9 72 — 4 7 3 3 8 7575 2 3 6 3 2 9 AUG-26 FEB-26 AUG-26 FEB-26 % % 80 70 60 50 40 30 20 10 0 80 70 60 50 40 30 20 10 0 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 11 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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KEY HIGHLIGHTS LIQUIDITY • R2.9 billion in cash and undrawn facilities • Interest coverage ratio increased to 3.2 times due to increased rental revenue from SA developments and repayment of UK debt FUNDING • Weighted average debt maturity of 2.9 years • Cost of debt remains just above 8% despite yield curve steepening BALANCE SHEET MANAGEMENT • LTV ratio decreased to 28.1% (section 4.3) • Reinvestment of proceeds into UK equities, with liquidity to fund development pipeline MARKET RISK • 83% of debt maturing after one year is hedged • Interest rate sensitivity of 20bp for every 100bp change in rates for SA DEBT CAPITAL MARKETS • GCR affirmed Equites’ credit rating AA-(ZA) in June 2026, with a stable outlook • Raised 3-year and 5-year debt at the lowest levels to date • 62% of property assets are unencumbered Commentary (continued) 7. TREASURY RISK MANAGEMENT Ongoing geopolitical conflict has resulted in the expected timeline for normalisation in global energy markets being pushed progressively further into the future. The negative economic effect of higher fuel costs may lead to a shift in inflation expectations, which the SARB had done well to reduce. Given the current factors are largely exogenous, the SARB has limited ability to influence the drivers, and interest rate expectations have therefore shifted more hawkish, notwithstanding the buffer provided by dollar weakness and gold strength. With this incertitude, prudent financial risk management remains a strategic priority. The Group’s disciplined approach to capital management has ensured that it remains well capitalised, with limited exposure to market risk and the financial flexibility to pursue value-enhancing development opportunities. The Group continues to be well capitalised, with cash liquidity (including undrawn facilities) of R2.9 billion and unfettered access to capital markets, and protected from adverse interest rate moves through a high hedging ratio. KEY TREASURY METRICS AUG-26 FEB-26 AUG-25 Loan-to-value ratio 28.1% 35.1% 37.2% Interest cover ratio 3.2 times 2.9 times 2.9 times Cash & undrawn facilities R2.9bn R3.1bn R3.4bn Weighted average debt maturity 2.9 years 2.9 years 3.2 years Interest rate risk hedge cover 83.4% 88.1% 96.9% Interest rate sensitivity 19.8% 31.6% 18.6% SA cost of debt 8.23% 8.13% 8.25% Long-term credit rating (GCR) AA-(ZA) AA-(ZA) AA-(ZA) EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 12 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 7. TREASURY RISK MANAGEMENT (CONTINUED) 7.1 MINIMISING THE COST OF CAPITAL The SA base rate increased by 25bp in May and September 2026 due to inflationary pressures, yet the increase to the Group’s SA cost of debt has been limited due to both the effective rates hedging policy in place – reducing interest rate sensitivity – and spread compression in funding costs, albeit slightly offset by the maturity of R1.2 billion short-dated debt. While the Group’s hedge profile means that reductions in reference rates will not flow through fully to the cost of debt, the same holds true in a rising interest rate environment, allowing the Group to maintain a stable cost of debt and providing enhanced constancy for investment decisions. Over each of the last six half-year periods, Equites has achieved an appreciable improvement between the margin on maturing debt and the margin on new debt raised in the same period. Notwithstanding the spread compression, the Group continues to raise funding largely in longer-dated tenors, as evidenced by the tenor extension between maturing and new debt in five of the last six half-year periods. COST OF DEBT AUG-26 FEB-26 AUG-25 ZARONIA (SA) 6.86% 6.61% 6.88% All-in ZAR effective fixed cost of debt 8.23% 8.13% 8.25% SPREAD COMPRESSION AND TENOR EXTENSION 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2H24 1H25 2H25 1H26 2H26 1H27 • MATURED DEBT • NEW DEBT SPREAD IMPROVEMENT MATURED DEBT SPREAD NEW DEBT SPREAD ZAR BN SPREAD ABOVE ZARONIA 2.9 YRS R2.1BN 183 155 3.7 YRS R4.5BN 185 3.9 YRS R0.7BN 5.0 YRS R1.3BN 170 3.0 YRS R1.8BN 3.8 YRS R1.7BN 181 5.5 YRS R0.2BN 1.0 YR R1.2BN 165 138 2.7 YRS R2.0BN 2.4 YRS R3.2BN 3.5 YRS R1.5BN 4.8 YRS R2.6BN 200 180 160 140 120 100 80 60 125 120 99 138 158 7.2 MAINTAINING A ROBUST CAPITAL STRUCTURE The Group continually reviews its capital structure to ensure alignment with its strategic objective of maintaining a strong capital base, while remaining consistent with stakeholder risk appetite and the projected funding requirements of the business. The Group targets an LTV ratio that supports this capital framework, with a focus on balancing risk mitigation and financial flexibility, thereby positioning the business to capitalise on future opportunities. The Group disposed of the Aviva portfolio of assets and associated debt, which reduced the LTV ratio by over ten percentage points to around 25%. As the proceeds are envisaged to be gradually drawn down for development funding purposes over the next 18 to 24 months, the Group elected to invest about 75% of the net proceeds into three UK logistics-focused FTSE- listed REITs, all with good liquidity in trading volume. The ratio of secured borrowings to encumbered assets of 32.9% reflects the level of support received from secured lenders and the value they attribute to the quality of the Group’s portfolio. This in turn enhances the position of unsecured lenders, with unsecured borrowings to unencumbered assets of 25.2% providing credit support and funding headroom. In addition, with the unencumbered asset ratio remaining above 60%, the Group retains flexibility to raise further unsecured funding or, where appropriate, to provide secured lenders with additional security should the need arise. ASSET AND DEBT RATIOS AUG-26 FEB-26 AUG-25 Unencumbered asset ratio 62.3% 63.8% 64.2% Unsecured debt ratio 55.9% 56.7% 54.1% Ratio of secured borrowings to encumbered assets 32.9% 42.4% 47.7% Ratio of unsecured borrowings to unencumbered assets 25.2% 31.6% 31.4% EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 13 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 7. TREASURY RISK MANAGEMENT (CONTINUED) 7.3 DIVERSIFYING SOURCES OF FUNDING The Group continues to receive strong support from lending institutions, and particularly the debt capital markets in SA. Of the R10.5 billion of ZAR-denominated facilities at August 2026, R4.4 billion (42%) was raised through the JSE-listed DMTN Programme (excluding private placements with banks). Since listing the DMTN Programme in 2019, there have been 33 different non-bank financial institution investors as primary holders of Equites’ listed debt, of which 25 are invested as at August 2026. A R1.2 billion 1-year note and a R300 million 3-year note matured, and given the funding requirements of the Group, a single debt auction was held in June 2026 to raise 3-year and 5-year funding. The auction was once again successful, in part due to the significant spread compression seen in the SA debt capital markets, with the 3-year note clearing at ZARONIA+90bp and the 5-year note at ZARONIA+103bp. By way of comparison, the maturing notes were at an equivalent spread to ZARONIA of +99bp and +145bp for 1-year and 3-year respectively. The graph below, which illustrates the spread over ZARONIA (historic spreads adjusted from 3-month JIBAR to ZARONIA using the published credit adjustment spread) for all auctions held, demonstrates the Group’s success in the SA debt capital markets. BALANCE 47% DMTN 9% ABSA 14% NEDBANK 11% RMB 15% SBSA FACILITY 42% DMTN 8% ABSA3% INVESTEC 4% INVESTEC 23% NEDBANK 11% RMB 13% SBSA 250 200 150 100 50 0 FEB-20 AUG-20 FEB-21 AUG-21 FEB-22 AUG-22 FEB-23 AUG-23 FEB-24 AUG-24 FEB-25 AUG25 FEB-26 AUG-26 • ONE YEAR • THREE YEAR • FIVE YEAR • SEVEN YEAR SPREAD OVER ZARONIA EQT031 +103 EQT030 +90 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 14 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 7. TREASURY RISK MANAGEMENT (CONTINUED) 7.4 PHASING THE MATURITY OF FINANCIAL LIABILITIES The Group manages the term profile of its loans and borrowings to balance refinancing risk against the cost of debt. The weighted average debt maturity profile remained 2.9 years at August 2026, albeit that the Aviva debt of £105 million (R2.3 billion), with 6 years remaining to maturity, is no longer included. Aside from the issuance of 3-year and 5-year listed debt, the Group refinanced R1.6 billion debt for maturity in 2031. At August 2026, the Group had R1.5 billion of debt maturing within the next 12 months, of which R0.8 billion relates to DMTN notes which will be refinanced in the November 2026 auction. Given that the Group has R2.9 billion in cash and available facilities, has R1.2 billion in liquid listed equities, and continues to receive strong support in the debt capital markets, it is confident that the risk associated with repaying or refinancing maturing debt is appropriately managed. 7.5 MAINTAINING STRONG LIQUIDITY The Group has a policy-driven contingent liquidity buffer of R300 million which requires that this amount be held in cash or undrawn facilities at any point in time, and this liquidity buffer is incorporated into the four-year funding forecast projections reported to the Risk & Capital committee at each meeting. The Group has R1.13 billion in undrawn available funding facilities and R1.74 billion in cash. In total, the Group has R2.9 billion in cash and available committed facilities. Equites continues to receive strong support in both the debt capital markets and bilateral lending from financial institutions, as evidenced by the lower credit spreads at which debt was raised. 7.6 APPROPRIATELY MANAGING FINANCIAL RISKS 7.6.1 INTEREST RATE RISK The Group uses a combination of natural hedges and derivative financial instruments to manage its exposure to interest rate risk. Group policy is to hedge at least 80% of the interest rate exposure on all debt with a remaining maturity of more than one year, either through interest rate derivatives or fixed-rate loan agreements. 83.4% of all long-dated debt maturing after August 2027 was hedged. The Group also seeks to limit debt with a contractual maturity of one year or less to below 20% of total debt. In this regard, 2.1% of outstanding debt was short-dated in nature at August 2026, compared with 11.6% at February 2026. The Group monitors interest rate sensitivity and enters into hedging arrangements to contain the impact of rising rates on the cost of debt, with an aim to keep interest rate sensitivity below 50%. At August 2026, a 100bp increase in interest rates would result in a 20bp increase in the cost of debt, a sensitivity of 19.8% compared with 31.6% at February 2026. Debt within RLF is not directly hedged. To mitigate this exposure, Equites hedges its 50.1% share of that debt within the broader Group structure. 7.6.2 FOREIGN EXCHANGE RATE RISK The Treasury policy of the Group dictates the parameters within which foreign exchange risk is managed, with the over-arching precept to reduce exchange rate volatility for investors. The Group’s UK operations are exposed to movements in the GBP/ZAR exchange rate and, in line with Treasury policy, uses foreign exchange derivative instruments to hedge net operating cash flows denominated in foreign currency. Following the cessation of UK development activity, surplus rental cash flows are no longer being reinvested into developments. Net operating income continues to be hedged using monthly average forwards and collars in accordance with Treasury policy, while any material non-operating cash flows are assessed on a case-by-case basis, taking into account associated debt repayments and hedging positions. 3.0 2.5 2.0 1.5 1.0 0.5 0.0 • UNDRAWN • UTILISED 1.5 2.1 1.8 0.8 0.9 2.1 0.4 1.0 WITHIN 1 YEAR 1 – 2 YEARS 2 – 3 YEARS 3 – 4 YEARS 4 – 5 YEARS BEYOND 5 YEARS ZAR BN EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 15 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 8. ESG 8.1 WATER STEWARDSHIP Equites continues to invest in a range of strategic interventions to improve water efficiency across its portfolio, reinforcing its commitment to operational resilience and stewardship on this resource. The first water re-use treatment facility located at the Riverfields precinct is scheduled to become operational during 2H27 and will meet all non-potable water requirements. Additionally, further investments in recovering and treating groundwater will contribute to a lower dependence on municipal infrastructure while strengthening water resilience within the node. Equites also expanded its water stewardship strategy through strategic collaboration with national water management bodies that provide access to specialist technical and regulatory expertise, to support the responsible scaling of these water reuse projects across the municipalities in which the Group operates. 8.2 RENEWABLE ENERGY The Group’s strategy on renewable energy is designed to provide tenants with a comprehensive energy solution through a PPA which meets their needs while generating alternative revenue for the Group. This arrangement facilitates the delivery of clean energy and is installed to seamlessly integrate with battery energy storage systems, thereby enhancing energy security, meeting environmental objectives and decreasing reliance on diesel generators. Installed solar capacity grew to 28.2MW, while the number of buildings with solar PV now constitute 75% of the portfolio. An additional two PPAs were contracted on long-term lease agreements. Within the next 24 months, Equites expects to commission 5.1MW of green energy from a combination of grid-tied and hybrid solar-plus-battery storage systems, at a forecasted capital expenditure of R62 million. 8.3 GREEN BUILDINGS The Group’s commitment to its green building objectives have remained consistent over the period. All new developments are certified under the IFC EDGE Advanced Green Building Standard, reinforcing Equites’ commitment to climate-conscious construction. In parallel, the sustainability credentials of existing assets are being enhanced to meet both EDGE Advanced and EDGE Net Zero Carbon standards. EDGE Green Certified buildings now represent 60% of the portfolio, with 77% of certified facilities achieving EDGE Advanced. On average, these facilities outperform EDGE certification requirements by 28% for energy efficiency, 12% for water efficiency and 39% for embodied carbon savings. Building on the strong performance achieved through its energy initiatives, Equites is increasingly shifting its focus towards water efficiency, with the objective of replicating similar portfolio wide outcomes through optimised consumption, increased reuse and alternative water supply solutions. 8.4 TRANSFORMATION The Group has maintained a Level 2 B-BBEE rating. This is attributable to: • 80.0% verified black ownership • The Board comprises 27.3% black females and a further 18.2% black males • Transformed workforce with 68.6% black employees • Active learnership and bursary programme • Enterprise supplier development programme The Group intends to maintain its B-BBEE level in the medium-term. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 16 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 9. PROSPECTS Management reaffirm full-year distribution guidance of 147.7–150.5cps for FY27, representing growth of 5–7% on FY26 at a 100% pay-out ratio. This guidance is underpinned by the continued strength of the SA portfolio. The assumptions on which the guidance is based remain unchanged from those disclosed in the FY26 results. The guidance has not been audited or reviewed by the external auditors. 10. SUBSEQUENT EVENTS The directors are not aware of any events that have occurred since the end of this reporting period which have a material impact on the results. 11. BASIS OF PREPARATION The condensed unaudited consolidated interim financial statements for the six months ended 31 August 2026 are prepared in accordance with International Financial Reporting Standards, IAS 34 Interim Financial Reporting, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by Financial Reporting Standards council, the JSE Listings Requirements and the requirements of the Companies Act of South Africa. The accounting policies applied in the preparation of these interim financial statements are in terms of IFRS and are consistent with those applied in the previous annual financial statements. These condensed consolidated interim financial statements have not been reviewed or audited by the Group’s external auditors. Laila Razack CA(SA), in her capacity as Chief Financial Officer, was responsible for the preparation of these condensed consolidated interim financial statements. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 17 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Commentary (continued) 12. DECLARATION OF INTERIM DIVIDEND Dividend number 26 for 72.57251 cents per share was declared on 14 October 2026. The Board has declared an interim gross dividend of 72.57cps on 14 October 2026 which is an increase of 5.1% over the prior year interim distribution of 69.04cps. The DPS is line with previous guidance of between 147.7–150.5cps. DIVIDENDS DECLARED FOR THE YEAR (CENTS PER SHARE) % CHANGE AUG-26 AUG-25 Interim dividend 5.1% 72.57 69.04 Shareholders will be entitled, in respect of all or part of their shareholdings, to elect to reinvest the cash dividend in return for Equites shares (the “dividend reinvestment alternative”). The entitlement for shareholders to receive the dividend reinvestment alternative is subject to the Board agreeing on the pricing and terms of the dividend reinvestment alternative. The Board in its discretion may withdraw the dividend reinvestment alternative should market conditions warrant such actions and such withdrawal will be communicated to shareholders prior to the finalisation announcement to be published by 11:00 on Monday, 26 October 2026. A circular providing further information in respect of the cash dividend and dividend reinvestment alternative will be posted/electronically delivered to shareholders on Thursday, 15 October 2026. SALIENT DATES 2026 Equites results for the six-months ended 31 August 2026 including declaration of an interim distribution published on SENS Thursday, 15 October Circular and form of election posted to shareholders Thursday, 15 October Finalisation information including the share ratio and reinvestment price per share published on SENS by 11:00 (SA time) Monday, 26 October Last day to trade in order to participate in the election to receive shares in terms of the dividend reinvestment alternative or to receive a cash dividend (“LDT”) Monday, 2 November Shares trade ex-dividend Tuesday, 3 November Listing of maximum possible number of shares under the dividend reinvestment alternative Friday, 6 November Last day to elect to receive shares in terms of the dividend reinvestment alternative or to receive a cash dividend (no late forms of election will be accepted) at 12:00 (SA time) Friday, 6 November Record date for the election to receive shares in terms of the dividend reinvestment alternative or to receive a cash dividend (“record date”) Friday, 6 November Announcement of results of cash dividend and dividend reinvestment alternative released on SENS Monday, 9 November Payment of cash dividends to certificated shareholders by electronic funds transfer Monday, 9 November Dematerialised shareholders’ CSDP or broker accounts credited with the cash dividend payment (if applicable) Monday, 9 November Share certificates posted to certificated shareholders on or about Wednesday, 11 November Dematerialised shareholders’ CSDP or broker accounts credited with the new shares (if applicable) Wednesday, 11 November Adjustment to shares listed on or about Friday, 13 November Notes: 1. Shareholders electing the dividend reinvestment alternative are alerted to the fact that the new shares will be listed on LDT + 3 and that these new shares can only be traded on LDT + 3, due to the fact that settlement of the shares will be three days after the record date, which differs from the conventional one day after record date settlement process. 2. Shares may not be dematerialised or rematerialised between Tuesday, 3 November 2026 and Friday, 6 November 2026, both days inclusive. 3. The above dates and times are subject to change. Any changes will be released on SENS. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 18 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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12. DECLARATION OF INTERIM DIVIDEND (CONTINUED) TAX IMPLICATIONS Equites listed on the JSE as a REIT in line with the REIT structure as provided for in the Income Tax Act, No. 58 of 1962, as amended (the “Income Tax Act”) and section 13 of the JSE Listings Requirements. The REIT structure is a tax regime that allows a REIT to deduct qualifying distributions paid to investors, in determining its taxable income. The cash dividend of 72.57251cps meets the requirements of a “qualifying distribution” for the purposes of section 25BB of the Income Tax Act (a “qualifying distribution”) with the result that: • qualifying distributions received or accrued to SA tax residents must be included in the gross income of such shareholders and will not be exempt from income tax (in terms of the exclusion to the general dividend exemption, contained in paragraph (aa) of section 10(1)(k) (i) of the Income Tax Act) because such qualifying distributions are distributed by a REIT. These qualifying distributions are however exempt from dividends withholding tax in the hands of SA tax resident shareholders, provided that such shareholders provided the following forms to their CSDP or broker, as the case may be, in respect of uncertificated shares, or the company, in respect of certificated shares: – a declaration that the dividend is exempt from dividends tax; and – a written undertaking to inform the CSDP, broker or the company, as the case may be, should the circumstances affecting the exemption change or the beneficial owner cease to be the beneficial owner, both in the form prescribed by the Commissioner for the SA Revenue Service. Shareholders are advised to contact their CSDP, broker or the company, as the case may be, to arrange for the abovementioned documents to be submitted prior to payment of the dividend, if such documents have not already been submitted. • qualifying distributions received by non-resident Equites shareholders will not be taxable as income and instead will be treated as ordinary dividends which are exempt from income tax in terms of the general dividend exemptions per section 10(1)(k)(i) of the Income Tax Act. Any qualifying distributions received by non-residents from a REIT will be subject to dividends withholding tax at 20%, unless the rate is reduced in terms of any applicable agreement for the avoidance of double taxation (“DTA”) between SA and the country of residence of the shareholder. Assuming dividends withholding tax will be withheld at a rate of 20%, the net dividend amount due to non-resident shareholders is 58.05800cps. A reduced dividend withholding rate in terms of the applicable DTA, may only be relied upon if the non-resident shareholder has provided the following forms to their CSDP or broker, as the case may be, in respect of uncertificated shares, or the company, in respect of certificated shares: – a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and – a written undertaking to inform their CSDP, broker or the company, as the case may be, should the circumstances affecting the reduced rate change or the beneficial owner cease to be the beneficial owner, both in the form prescribed by the Commissioner for the SA Revenue Service. Non-resident shareholders are advised to contact their CSDP, broker or the company, as the case may be, to arrange for the abovementioned documents to be submitted prior to payment of the dividend if such documents have not already been submitted, if applicable. OTHER INFORMATION • The issued ordinary share capital of Equites at the date of declaration is 868 244 585. • Income Tax Reference Number of Equites: 9275393180. The cash dividend or dividend reinvestment alternative may have tax implications for resident as well as non-resident shareholders. Shareholders are therefore encouraged to consult their professional advisors should they be in any doubt as to the appropriate action to take. By order of the Board Equites Property Fund Limited 15 October 2026 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 19 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Condensed consolidated financial statements EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 20 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026

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Statement of financial position Equites Property Fund Limited and its subsidiaries at 31 August 2026 UNAUDITED UNAUDITED AUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 ASSETS NON-CURRENT ASSETS Investment property (excluding straight-lining) 4 22 292 070 20 451 201 21 206 418 Straight-lining lease income accrual 1 476 676 1 450 922 1 480 912 Deferred tax asset 1 173 — — Other financial assets 144 300 17 173 2 953 Trade and other receivables 8 18 178 2 947 195 Loan receivable 74 322 83 060 72 024 Property, plant and equipment 26 294 33 311 29 573 24 033 013 22 038 614 22 792 075 CURRENT ASSETS Trading property and development 5 1 007 882 867 981 955 217 Investment in equity instruments 7 1 246 591 — — Trade and other receivables 8 548 494 1 238 215 477 635 Other financial assets 90 951 60 032 61 998 Loan receivable 14 797 5 569 5 392 Cash and cash equivalents 1 739 874 1 570 052 2 081 114 4 648 589 3 741 849 3 581 356 Assets held-for-sale 15 601 779 5 667 713 5 026 899 TOTAL ASSETS 29 283 381 31 448 176 31 400 330 UNAUDITED UNAUDITED AUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 EQUITY AND LIABILITIES EQUITY AND RESERVES Stated capital 13 560 435 12 837 221 13 549 132 Accumulated profit 912 987 74 195 296 446 Foreign currency translation reserve 640 525 1 056 557 604 450 Share-based payment reserve 22 021 19 703 23 358 TOTAL ATTRIBUTABLE TO OWNERS 15 135 968 13 987 676 14 473 386 Non-controlling interest 9 4 104 348 3 944 937 3 989 913 TOTAL EQUITY AND RESERVES 19 240 316 17 932 613 18 463 299 LIABILITIES NON-CURRENT LIABILITIES Loans and borrowings 6 8 062 458 7 863 193 6 142 107 Financial guarantee 10 000 10 000 10 000 Other financial liabilities 27 844 57 520 59 000 Other payables 81 433 94 466 84 708 8 181 735 8 025 179 6 295 815 CURRENT LIABILITIES Loans and borrowings 6 1 404 790 2 243 558 3 721 842 Trade and other payables 384 369 454 412 376 294 Other financial liabilities 483 28 191 49 853 Current tax liability 9 255 636 8 213 1 798 897 2 726 797 4 156 202 Liabilities held-for-sale 15 62 433 2 763 587 2 485 014 TOTAL LIABILITIES 10 043 065 13 515 563 12 937 031 TOTAL EQUITY AND LIABILITIES 29 283 381 31 448 176 31 400 330 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 21 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Statement of comprehensive income Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 CONTINUING OPERATIONS Property revenue and tenant recoveries 1 148 950 1 087 178 2 212 425 Straight-lining of leases adjustment (3 765) 159 975 189 692 Other revenue 357 536 423 679 751 478 GROSS PROPERTY REVENUE 10 1 502 721 1 670 832 3 153 595 Cost of sales (333 155) (536 865) (813 109) Property operating and management expenses (283 464) (250 354) (544 799) Other net losses 11 (100 371) (40 017) (130 190) Administrative expenses (82 844) (61 176) (126 698) Fair value adjustments – investment property 4 586 832 506 692 930 744 OPERATING PROFIT BEFORE FINANCING ACTIVITIES 1 289 719 1 289 112 2 469 543 Finance cost 12 (148 575) (415 486) (792 687) Finance income 134 434 180 810 369 017 Investment income 13 161 548 — — NET PROFIT BEFORE TAX 1 437 126 1 054 436 2 045 873 Taxation (2 161) (7) (18 668) PROFIT FROM CONTINUING OPERATIONS 1 434 965 1 054 429 2 027 205 PROFIT FROM DISCONTINUED OPERATIONS 15 50 827 53 998 132 458 PROFIT FOR THE PERIOD 1 485 792 1 108 427 2 159 663 OTHER COMPREHENSIVE INCOME/(LOSS) ITEMS THAT MAY SUBSEQUENTLY BE RECLASSIFIED TO PROFIT OR LOSS: Translation of foreign operations (60 367) 81 080 (384 796) from continuing operations 95 269 6 286 (476 712) from discontinuing operations (155 636) 74 794 91 916 ITEMS RECLASSIFIED TO PROFIT OR LOSS: Reclassification of FCTR on disposal 96 895 1 136 5 080 from continuing operations (254) 27 6 189 from discontinuing operations 97 149 1 109 (1 109) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 1 522 320 1 190 643 1 779 947 UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 PROFIT/(LOSS) ATTRIBUTABLE TO: OWNERS OF THE PARENT 1 240 719 838 930 1 631 446 from continuing operations 1 189 795 784 904 1 498 828 from discontinuing operations 50 924 54 025 132 618 NON-CONTROLLING INTEREST 245 073 269 498 528 217 from continuing operations 245 170 269 524 528 377 from discontinuing operations (97) (26) (160) 1 485 792 1 108 427 2 159 663 TOTAL COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO: OWNERS OF THE PARENT 1 276 794 918 412 1 258 823 from continuing operations 1 284 809 791 372 1 035 408 from discontinuing operations (8 015) 127 040 223 415 NON-CONTROLLING INTEREST 245 526 272 231 521 124 from continuing operations 245 171 269 370 521 274 from discontinuing operations 355 2 861 (150) 1 522 320 1 190 643 1 779 947 BASIC EARNINGS PER SHARE (CENTS) 1 143.0 101.1 194.5 from continuing operations 137.1 94.6 178.7 from discontinuing operations 5.9 6.5 15.8 DILUTED EARNINGS PER SHARE (CENTS) 1 141.9 99.9 193.0 from continuing operations 136.1 93.5 177.3 from discontinuing operations 5.8 6.4 15.7 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 22 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Statement of cash flows Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 CASH FLOWS FROM OPERATING ACTIVITIES Cash generated from operations 14 678 291 637 687 1 700 535 Finance cost paid 12 (360 130) (407 898) (869 600) Finance income received 130 464 159 396 355 993 Tax paid (1 128) (891) (10 185) Dividends paid (752 945) (667 221) (1 441 970) NET CASH FLOWS UTILISED BY OPERATING ACTIVITIES (305 448) (278 927) (265 227) CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of investment properties 4 (137 981) (146 087) (129 817) Development of investment properties 4 (426 041) (233 149) (610 918) Finance cost paid capitalised to investment properties 4 (59 031) (89 861) (110 074) Proceeds from disposal of investment property and subsidiaries (net of disposal costs) 2 110 062 361 629 350 572 Purchases of current financial assets1 (4 010 000) (3 610 000) (8 268 338) Proceeds on divestment of current financial assets1 4 010 000 3 610 000 8 268 338 Purchases of equity instruments 7 (1 743 308) — — Proceeds on disposal of equity instruments 7 596 288 — — Dividends received 14 052 — — Proceeds from loan receivable — — 12 000 Loans advanced (7 810) — (549) Proceeds from disposal of property, plant and equipment 4 — 35 Purchase of property, plant and equipment (255) (140) (289) NET CASH FLOWS GENERATED FROM/ (UTILISED BY) INVESTING ACTIVITIES 345 980 (107 608) (489 040) UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 CASH FLOWS FROM FINANCING ACTIVITIES Share issue costs paid (5 473) (455) (961) Proceeds from shares issued for cash — — 712 417 Repurchase of shares (6 253) (132 932) (132 932) Proceeds from transactions with NCI 221 — — Repayment of lease liability (4 036) (4 825) (8 717) Proceeds from borrowings 6 1 739 408 2 000 000 4 198 241 Repayment of borrowings 6 (2 115 000) (1 294 976) (3 433 303) NET CASH FLOWS (UTILISED BY)/ RAISED FROM FINANCING ACTIVITIES (391 133) 566 812 1 334 745 Net increase in cash and cash equivalents (350 601) 180 277 580 478 Effect on exchange rate movements in cash and cash equivalents 9 350 4 982 (26 076) Cash and cash equivalents at the beginning of the period 2 081 571 1 527 169 1 527 169 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 1 740 320 1 712 428 2 081 571 Cash and cash equivalents 1 739 874 1 570 052 2 081 114 Cash from discontinued operations 15 446 142 376 457 1 This primarily consists of investments in and divestments of surplus cash held in money market funds. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 23 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Statement of changes in equity Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 R’000 STATED CAPITAL ACCUMULATED PROFIT/(LOSS) FOREIGN CURRENCY TRANSLATION RESERVE SHARE-BASED PAYMENT RESERVE TOTAL ATTRIBUTABLE TO PARENT NON- CONTROLLING INTEREST TOTAL AUDITED BALANCE AT 28 FEBRUARY 2025 12 964 573 (208 129) 977 073 38 431 13 771 948 3 785 154 17 557 102 Profit/(loss) for the period — 838 929 — — 838 929 269 498 1 108 427 from continuing operations — 784 904 — — 784 904 269 524 1 054 428 from discontinuing operations — 54 025 — — 54 025 (26) 53 999 Other comprehensive income/(loss) — — 79 484 — 79 484 2 732 82 216 from continuing operations — — 6 468 — 6 468 (155) 6 313 from discontinuing operations — — 73 016 — 73 016 2 887 75 903 Transactions with non-controlling interest — — — — — (1 831) (1 831) Shares repurchased and cancelled (126 906) — — — (126 906) — (126 906) Shares repurchased and issued in terms of conditional share plan — — — (6 026) (6 026) — (6 026) Treasury shares issued in terms of conditional share plan 9 — — (9) — — — Equity-settled share-based payment charge — — — (12 693) (12 693) — (12 693) Dividends distributed to shareholders — (556 605) — — (556 605) (110 616) (667 221) Share issue costs (455) — — — (455) — (455) UNAUDITED BALANCE AT 31 AUGUST 2025 12 837 221 74 195 1 056 557 19 703 13 987 676 3 944 937 17 932 613 Profit/(loss) for the period — 792 517 — — 792 517 258 719 1 051 236 from continuing operations — 713 924 — — 713 924 258 853 972 777 from discontinuing operations — 78 593 — — 78 593 (134) 78 459 Other comprehensive (loss)/income — — (452 107) — (452 107) (9 825) (461 932) from continuing operations — — (469 888) — (469 888) (6 948) (476 836) from discontinuing operations — — 17 781 — 17 781 (2 877) 14 904 Transactions with non-controlling interest — — — — — 565 565 Shares issued for cash 712 417 — — — 712 417 — 712 417 Equity-settled share-based payment charge — — — 3 655 3 655 — 3 655 Dividends distributed to shareholders — (570 266) — — (570 266) (204 483) (774 749) Share issue costs (506) — — — (506) — (506) AUDITED BALANCE AT 28 FEBRUARY 2026 13 549 132 296 446 604 450 23 358 14 473 386 3 989 913 18 463 299 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 24 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Statement of changes in equity (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 R’000 STATED CAPITAL ACCUMULATED PROFIT/(LOSS) FOREIGN CURRENCY TRANSLATION RESERVE SHARE-BASED PAYMENT RESERVE TOTAL ATTRIBUTABLE TO PARENT NON- CONTROLLING INTEREST TOTAL AUDITED BALANCE AT 28 FEBRUARY 2026 13 549 132 296 446 604 450 23 358 14 473 386 3 989 913 18 463 299 Profit/(loss) for the period — 1 240 719 — — 1 240 719 245 073 1 485 792 from continuing operations — 1 189 795 — — 1 189 795 245 170 1 434 965 from discontinuing operations — 50 924 — — 50 924 (97) 50 827 Other comprehensive income/(loss) — — 36 075 — 36 075 453 36 528 from continuing operations — — 95 014 — 95 014 1 95 015 from discontinuing operations — — (58 939) — (58 939) 452 (58 487) Transactions with non-controlling interest — — — — — (2 324) (2 324) Shares repurchased and cancelled (6 253) — — — (6 253) — (6 253) Shares issued in terms of conditional share plan 23 029 — — (23 029) — — — Equity-settled share-based payment charge — — — 21 692 21 692 — 21 692 Dividends distributed to shareholders — (624 178) — — (624 178) (128 767) (752 945) Share issue costs (5 473) — — — (5 473) — (5 473) UNAUDITED BALANCE AT 31 AUGUST 2026 13 560 435 912 987 640 525 22 021 15 135 968 4 104 348 19 240 316 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 25 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 1. EARNINGS PER SHARE This note provides the obligatory information in terms of IAS 33 Earnings per share and SAICA Circular 1/2023 for the Group and should be read in conjunction with Appendix 1, where earnings are reconciled to distributable earnings. Distributable earnings determine the dividend declared to shareholders, which is a meaningful metric for a shareholder in a REIT. RECONCILIATION BETWEEN BASIC EARNINGS AND HEADLINE EARNINGS 6 MONTHS RESTATED1 6 MONTHS 12 MONTHS 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 BASIC EARNINGS CONTINUING OPERATIONS DISCONTINUED OPERATION TOTAL CONTINUING OPERATIONS DISCONTINUED OPERATION TOTAL CONTINUING OPERATIONS DISCONTINUED OPERATION TOTAL Earnings (profit attributable to owners of the parent) 1 189 795 50 924 1 240 719 784 904 54 025 838 929 1 498 828 132 618 1 631 446 Adjusted for: Fair value adjustments to investment properties 4.1 (586 832) — (586 832) (506 692) 1 531 (505 161) (930 744) — (930 744) Fair value adjustment of non-current assets held-for-sale 4.2 — 74 075 74 075 — (90) (90) — (40 584) (40 584) Less: Fair value adjustment to investment properties (NCI) 9.1 114 444 — 114 444 79 839 — 79 839 205 342 — 205 342 Impairment of land options 15.2 — 6 212 6 212 — 6 247 6 247 — 12 923 12 923 (Profit)/loss on sale of non-current assets 10 & 15 31 093 (94 831) (63 738) 7 383 10 184 17 567 3 206 14 494 17 700 Less: (Loss)/profit on sale of non-current assets (NCI) 9.1 (13 722) — (13 722) 3 742 — 3 742 3 974 — 3 974 HEADLINE EARNINGS 734 778 36 380 771 158 369 176 71 897 441 073 780 606 119 451 900 057 1 Comparatives have been restated to reclassify balances for the effect of the discontinued operation EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 26 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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1. EARNINGS PER SHARE (CONTINUED) RECONCILIATION BETWEEN BASIC EARNINGS AND HEADLINE EARNINGS (CONTINUED) NUMBER OF SHARES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Shares in issue 868 244 585 825 990 801 867 290 341 Weighted average number of shares in issue 867 746 719 829 899 089 838 552 157 Add: weighted potential dilutive impact of conditional shares 6 221 345 9 168 511 6 600 436 Diluted weighted average number of shares in issues 873 968 064 839 067 600 845 152 593 6 MONTHS RESTATED1 6 MONTHS 12 MONTHS CENTS 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 BASIC & HEADLINE EARNINGS PER SHARE CONTINUING OPERATIONS DISCONTINUED OPERATION TOTAL CONTINUING OPERATIONS DISCONTINUED OPERATION TOTAL CONTINUING OPERATIONS DISCONTINUED OPERATION TOTAL Basic earnings per share 137.1 5.9 143.0 94.6 6.5 101.1 178.7 15.8 194.5 Diluted earnings per share 136.1 5.8 141.9 93.5 6.4 99.9 177.3 15.7 193.0 Headline earnings per share 84.7 4.2 88.9 44.5 8.7 53.1 93.1 14.2 107.3 Diluted headline earnings per share 84.1 4.2 88.3 44.0 8.6 52.6 92.4 14.1 106.5 1 Comparatives have been restated to reclassify balances for the effect of the discontinued operation Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 27 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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2. SEGMENT INFORMATION The unaudited segment information for the Group for the period ended 31 August 2026 is set out below: OPERATING SEGMENTS R’000 NOTES SA INDUSTRIAL UK DEVELOPER OTHER DISCONTINUED OPERATION (UK INDUSTRIAL) TOTAL STATEMENT OF COMPREHENSIVE INCOME Property revenue and tenant recoveries 10 & 15 1 148 950 — — 58 229 1 207 179 Straight-lining of leases adjustment 10 & 15 (3 765) — — 16 902 13 137 Other revenue 10 2 980 354 430 126 — 357 536 Cost of sales (622) (332 533) — — (333 155) Property operating and management expenses (283 464) — — (2 643) (286 107) Administrative cost (81 662) (1 158) (24) (16 713) (99 557) Fair value adjustments – investment property 4 586 832 — — (74 076) 512 756 Operating profit before financing activities 1 289 618 — 101 70 319 1 360 038 Finance income 134 434 — — — 134 434 Finance cost 12 & 15 (148 575) — — (18 146) (166 721) Current tax expense — (2 150) (11) (48) (2 209) STATEMENT OF FINANCIAL POSITION Investment property (including straight-lining) 4 23 768 746 — — — 23 768 746 Investment property held-for-sale 4 88 700 — — 498 282 586 982 Trading property 5 — 1 007 882 — — 1 007 882 Trade and other receivables 8 & 15 388 881 177 482 309 14 351 581 023 Loans and borrowings 6 9 467 248 — — — 9 467 248 Total assets 27 517 244 1 250 667 2 391 513 079 29 283 381 Total liabilities 9 917 194 61 408 2 030 62 433 10 043 065 Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 28 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 2. SEGMENT INFORMATION (CONTINUED) The unaudited segment information for the Group for the period ended 31 August 2025 is set out below: OPERATING SEGMENTS R’000 NOTES SA INDUSTRIAL UK DEVELOPER OTHER DISCONTINUED OPERATION (UK INDUSTRIAL) TOTAL STATEMENT OF COMPREHENSIVE INCOME Property revenue and tenant recoveries 10 & 15 1 087 178 — — 149 351 1 236 529 Straight-lining of leases adjustment 10 & 15 159 975 — — 2 580 162 556 Other revenue 10 1 696 421 728 255 — 423 679 Cost of sales (965) (535 900) — — (536 865) Property operating and management expenses (250 354) — — (3 187) (253 541) Administrative cost (57 190) (3 959) (27) (11 905) (73 081) Fair value adjustments – investment property 4 506 692 — — (1 441) 505 251 Operating profit/(loss) before financing activities 1 397 661 (108 776) 227 118 961 1 408 073 Finance income 147 186 33 624 — 6 245 187 055 Finance cost 12 & 15 (415 486) — — (70 076) (485 562) Current tax expense — — (7) — (7) STATEMENT OF FINANCIAL POSITION Investment property (including straight-lining) 4 21 902 123 — — — 21 902 123 Investment property held-for-sale 4 117 702 — — 5 382 251 5 499 953 Trading property 5 — 867 981 — — 867 981 Trade and other receivables 8 & 15 261 640 977 914 1 608 25 368 1 266 530 Loans and borrowings 6 & 15 10 106 751 — — 2 500 558 12 607 309 Total assets 24 021 083 1 871 829 5 253 5 550 011 31 448 176 Total liabilities 10 558 045 190 354 3 577 2 763 587 13 515 563 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 29 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 2. SEGMENT INFORMATION (CONTINUED) The audited segment information for the Group for the year ended 28 February 2026 is set out below: OPERATING SEGMENTS R’000 NOTES SA INDUSTRIAL UK DEVELOPER OTHER UK INDUSTRIAL TOTAL STATEMENT OF COMPREHENSIVE INCOME Property revenue and tenant recoveries 10 & 15 2 212 425 — — 287 060 2 499 485 Straight-lining of leases adjustment 10 & 15 189 692 — — (40 534) 149 158 Other revenue 10 4 657 746 413 408 — 751 478 Cost of sales (1 680) (811 429) — — (813 109) Property operating and management expenses (544 799) — — (5 475) (550 274) Administrative cost (112 383) (14 016) (299) (20 147) (146 845) Fair value adjustments – investment property 4 930 744 — — 40 584 971 328 Operating profit/(loss) before financing activities 2 538 531 (69 097) 109 234 084 2 703 627 Finance income 369 017 — — 17 461 386 478 Finance cost 12 & 15 (792 687) — — (117 292) (909 979) Current tax expense — (18 654) (9) — (18 663) STATEMENT OF FINANCIAL POSITION Investment property (including straight-lining) 4 22 687 330 — — — 22 687 330 Investment property held-for-sale 4 117 000 — — 4 895 534 5 012 534 Trading property 5 — 955 217 — — 955 217 Trade and other receivables 8 & 15 212 710 264 881 239 13 908 491 738 Loans and borrowings 6 & 15 9 863 949 — — 2 260 395 12 124 344 Total assets 24 580 737 1 906 751 2 942 4 909 899 31 400 330 Total liabilities 10 328 038 121 304 2 675 2 485 014 12 937 031 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 30 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 3. FAIR VALUE MEASUREMENT Assets and liabilities recognised and subsequently measured at fair value are categorised into a three-tiered hierarchy that reflects the significance of the inputs used in the valuation technique. The levels of the hierarchy are defined as follows: Level 1 – Unadjusted, quoted prices in an active market for identical assets and liabilities. Quoted prices are readily available from an exchange, dealer, broker, industry group, pricing service or regulatory agency and those prices represent actual and regularly occurring market transactions on an arm’s length basis. Level 2 – Valuation techniques using inputs that are observable either directly, (i.e. prices other than quoted prices that are included in level 1) or indirectly (i.e. from derived prices). These inputs are observable for the financial instrument, either directly (i.e. as prices) or indirectly (i.e. from derived prices). Level 3 – Valuation techniques using inputs that are not based on observable market data (unobservable inputs). UNAUDITED UNAUDITED AUDITED R’000 LEVEL OF HIERARCHY 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 ASSETS AND LIABILITIES MEASURED AT FAIR VALUE FINANCIAL ASSETS Investment in equity instruments Level 1 1 246 591 — — Derivative financial instruments Level 2 235 251 77 205 64 951 FINANCIAL LIABILITIES Derivative financial instruments Level 2 (28 326) (85 711) (108 853) NON-FINANCIAL ASSETS Investment property (note 4) Level 3 22 166 207 21 902 122 22 687 330 Investment property held-for-sale Level 3 — — 338 425 There were no transfers between level 1, level 2 or level 3 during the period. Derivative financial instruments are measured with reference to observable market inputs (interest rates, yield curves, FX rates) based on mid-market levels. DETAILS OF VALUATION TECHNIQUES INVESTMENT PROPERTY The Group has appointed a panel of external valuers to conduct the valuation for each property. The independent valuers applied, amongh other inputs, current market prices for properties with similar characteristics, leases and cash flow projections. All SA valuations are performed using a discounted cash flow method. UK valuations are performed using an income capitalisation method, however, no external valuations were performed on the UK portfolio as these assets are held-for-sale and classified under IFRS 5: Non-current assets held-for-sale, and the measurement is considered to be the fair value less the costs to sell. DISCOUNTED CASH FLOW METHOD The fair value of each income-producing SA property is determined by calculating its net present value by discounting forecasted future net cash flows and a residual value at the end of the cash flow projection period by the discount rate of each property. The residual value is calculated using an appropriate exit capitalisation rate. The discount rate used to determine the fair value of each property is a function of the exit capitalisation rate and the long-term market rental growth rate. The exit capitalisation rate is dependent on a number of factors, including location, asset class, market conditions, lease covenants and the risks inherent in the property. SIGNIFICANT UNOBSERVABLE INPUTS • Exit capitalisation rates varied between 7.3% and 9.0% (Aug 25: 7.3% and 9.0%; Feb 26: 7.3% and 9.5%) for SA properties. • Discount rates varied between 12.0% and 13.5% (Aug 25: 12.0% and 13.5%; Feb 26: 12.0% and 13.5%) for SA properties. • Expected market rentals. INTER-RELATIONSHIP BETWEEN UNOBSERVABLE INPUTS AND FAIR VALUE MEASUREMENT The overall valuations are sensitive to the assumptions listed above. The impact of vacancy is deemed to be immaterial on the valuations as the majority of the Group’s leases are long dated, with no view of material vacancies in the portfolio in the near future. Management deems that the range of possible alternative assumptions is greatest for the exit capitalisation rates. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 31 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 3. FAIR VALUE MEASUREMENT (CONTINUED) DERIVATIVE FINANCIAL ASSETS AND LIABILITIES INTEREST RATE SWAPS AND FOREIGN CURRENCY INSTRUMENTS: The fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Estimated cash flows are discounted using a yield curve constructed from similar sources which reflects the relevant benchmark interbank rate used by market participants for this purpose when pricing interest rate swaps. The fair value estimate is subject to a credit risk adjustment that reflects the credit risk of the Group and of the counterparty. This is calculated based on credit spreads derived from current credit default swap or bond prices. SENSITIVITY OF FAIR VALUES TO CHANGES IN UNOBSERVABLE INPUTS (LEVEL 3): Valuation of investment properties is sensitive to changes in unobservable inputs used in determining fair value. R’000 DISCOUNT RATE EXIT CAPITALISATION RATE MARKET RENTALS 31-AUG-26 Change in input -0.1% +0.1% -0.1% +0.1% +5% -5% Increase/(decrease) SA industrial 264 427 (254 814) 270 697 (240 433) 477 963 (521 555) 31-AUG-25 Change in input -0.1% +0.1% -0.1% +0.1% +5% -5% Increase/(decrease) SA industrial 205 669 (194 593) 381 310 (269 039) 463 532 (417 858) 28-FEB-26 Change in input -0.1% +0.1% -0.1% +0.1% +5% -5% Increase/(decrease) SA industrial 273 757 (292 527) 226 454 (348 250) 426 861 (475 472) 4. INVESTMENT PROPERTY UNAUDITED UNAUDITED AUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Income-producing investment property 20 795 034 19 203 126 19 983 971 Investment property under development 1 192 522 355 265 920 302 Freehold land 293 226 879 370 289 169 Right-of-use asset 11 288 13 441 12 976 INVESTMENT PROPERTY (EXCLUDING STRAIGHT-LINING) 4.1 22 292 070 20 451 200 21 206 418 Straight-lining lease income accrual 1 476 676 1 450 922 1 480 912 Investment property held-for-sale 4.2 586 982 5 499 953 5 012 534 FAIR VALUE OF INVESTMENT PROPERTY 24 355 728 27 402 075 27 699 864 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 32 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 4. INVESTMENT PROPERTY (CONTINUED) 4.1 RECONCILIATION OF INVESTMENT PROPERTY SA UK R’000 LOGISTICS INDUSTRIAL PROPERTIES UNDER DEVELOPMENT LAND RIGHT-OF-USE ASSET LOGISTICS TOTAL AUDITED BALANCE AT 28 FEBRUARY 2025 18 326 288 358 825 204 530 797 576 9 919 4 740 033 24 437 171 Acquisitions 86 660 — — 59 427 — — 146 087 Improvements and extensions 98 091 9 740 — — — (1 808) 106 023 Construction and development costs — — 150 735 47 712 — — 198 446 Transfers (116 636) — — — (202) (4 735 052) (4 851 890) Letting commission amortised (3 099) — — — — (234) (3 333) Lease incentives capitalised 720 950 — — — — 1 670 Lease incentives amortised (1 338) (66) — — — — (1 404) Remeasurements — — — — 6 076 — 6 076 Fair value adjustment 515 167 19 223 — (25 346) (2 352) (1 531) 505 161 Disposals (91 399) — — — — — (91 399) Foreign exchange loss — — — — — (1 408) (1 408) UNAUDITED BALANCE AT 31 AUGUST 2025 18 814 454 388 672 355 265 879 370 13 441 — 20 451 201 Acquisitions — — — (86) — — (86) Improvements and extensions 54 640 (7 554) — — — — 47 086 Construction and development costs — 8 143 288 450 (38 999) — — 257 594 Transfers 283 817 — 264 227 (545 496) 202 — 2 750 Letting commission capitalised 6 924 — 10 000 — — — 16 924 Letting commission amortised (2 067) — — — — — (2 067) Lease incentives capitalised 9 793 — — — — — 9 793 Lease incentives amortised (1 254) (78) — — — — (1 332) Remeasurements — — — — 1 282 — 1 282 Fair value adjustment 490 570 (61 310) 2 360 (5 619) (1 949) — 424 052 Disposals (779) — — — — — (779) AUDITED BALANCE AT 28 FEBRUARY 2026 19 656 098 327 873 920 302 289 169 12 976 — 21 206 418 Acquisitions — 105 503 32 478 — — — 137 981 Improvements and extensions 30 478 61 — — — — 30 539 Construction and development costs — 472 410 179 10 637 — — 421 288 Transfers 173 263 (87 638) (173 265) — — — (87 640) Letting commission amortised (2 665) — — — — — (2 665) Lease incentives capitalised 1 559 — — — — — 1 559 Lease incentives amortised (2 163) (79) — — — — (2 242) Fair value adjustment 516 889 75 383 2 828 (6 580) (1 688) — 586 832 UNAUDITED BALANCE AT 31 AUGUST 2026 20 373 459 421 575 1 192 522 293 226 11 288 — 22 292 070 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 33 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 4. INVESTMENT PROPERTY (CONTINUED) 4.2 INVESTMENT PROPERTY HELD-FOR-SALE SA UK R’000 LOGISTICS INDUSTRIAL ZONED INDUSTRIAL LAND LOGISTICS STRATEGIC LAND HOLDINGS LAND OPTIONS TOTAL AUDITED BALANCE AS AT 28 FEBRUARY 2025 — 120 000 19 300 720 855 12 292 87 883 960 330 Transfers 117 702 — — 4 858 767 — — 4 976 469 Improvements — — — — — — — Construction and development costs — — 678 — — 21 715 22 393 Letting commission amortised — — — (104) — — (104) Straight-lining of leases adjustment — — — (759) — — (759) Fair value adjustment — — — 90 — — 90 Impairment — — — — — (6 247) (6 247) Foreign exchange gain — — — 122 097 — 1 924 124 021 Disposals — (120 000) (19 978) (412 431) (12 292) (11 539) (576 240) UNAUDITED BALANCE AS AT 31 AUGUST 2025 117 702 — — 5 288 515 — 93 736 5 499 953 Transfers (702) (33) — (2 299) — — (3 035) Improvements — — — (74) — — (74) Construction and development costs — — (593) — 5 635 37 080 42 121 Letting commission amortised — — — (520) — — (520) Straight-lining of leases adjustment — — — (39 775) — — (39 775) Fair value adjustment — — — 40 494 — — 40 494 Impairment — — — — — (6 676) (6 676) Foreign exchange loss — — — (542 813) — (10 025) (552 839) Disposal — 33 593 32 207 (5 635) 5 685 32 883 AUDITED BALANCE AS AT 28 FEBRUARY 2026 117 000 — — 4 775 735 — 119 799 5 012 534 Transfers 88 700 — — — — — 88 700 Improvements 295 — — — — — 295 Construction and development costs — — — — — 31 391 31 391 Letting commission amortised — — — (146) — — (146) Straight-lining of leases adjustment — — — 16 902 — — 16 902 Fair value adjustment — — — (74 075) — — (74 075) Impairment — — — — — (6 212) (6 212) Foreign exchange gain — — — 168 417 — 2 299 170 716 Disposals (117 295) — — (4 535 828) — — (4 653 123) UNAUDITED BALANCE AS AT 31 AUGUST 2026 88 700 — — 351 005 — 147 277 586 982 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 34 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 5. TRADING PROPERTY & DEVELOPMENT R’000 AUDITED BALANCE AS AT 28 FEBRUARY 2025 900 856 Capital expenditure 497 333 Disposals (444 588) Impairment (99 364) Foreign exchange gain 13 744 UNAUDITED BALANCE AS AT 31 AUGUST 2025 867 981 Capital expenditure 434 572 Disposals (300 124) Impairment reversal 24 323 Foreign exchange loss (71 535) AUDITED BALANCE AT 28 FEBRUARY 2026 955 217 Capital expenditure 389 695 Disposals (344 354) Foreign exchange gain 7 324 UNAUDITED BALANCE AS AT 31 AUGUST 2026 1 007 882 6. LOANS AND BORROWINGS RECONCILIATION OF LOANS AND BORROWINGS UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 OPENING BALANCE Debt balance 12 058 098 11 784 675 11 784 675 Loan fees (15 062) (25 766) (25 766) Accrued interest 81 308 74 968 74 968 OPENING LOANS AND BORROWINGS 12 124 344 11 833 877 11 833 877 Opening balance 12 124 344 11 833 877 11 833 877 Proceeds from borrowings 1 739 408 2 000 000 4 198 241 Repayment of borrowings (2 115 000) (1 294 976) (3 748 104) Foreign exchange loss/(gain) 69 174 41 700 (176 714) Disposal of investment in subsidiary (2 343 873) — — Loan fees paid and amortised 7 438 5 118 10 704 Movement in accrued interest (14 243) 21 590 6 340 LOANS AND BORROWINGS 9 467 248 12 607 309 12 124 344 CLOSING BALANCE Debt balance 9 407 807 12 531 398 12 058 098 Loan fees (7 624) (20 648) (15 062) Accrued interest 67 065 96 558 81 308 LOANS AND BORROWINGS 9 467 248 12 607 309 12 124 344 Non-current borrowings 8 062 458 7 863 193 6 142 107 Current borrowings 1 404 790 2 243 558 3 721 842 Discontinued operation (note 15) — 2 500 558 2 260 395 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 35 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 7. INVESTMENT IN EQUITY INSTRUMENTS UNAUDITED UNAUDITED AUDITED 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 LISTED SHARES 1 246 591 — — R’000 RECONCILIATION OF INVESTMENT IN EQUITY INSTRUMENTS Acquisitions 1 743 308 Dividend accrued 7 445 Fair value adjustment 92 550 Disposals (596 288) Foreign exchange loss (424) UNAUDITED BALANCE AS AT 31 AUGUST 2026 1 246 591 8. TRADE AND OTHER RECEIVABLES UNAUDITED UNAUDITED AUDITED R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Gross trade receivables (tenants) 60 894 55 050 38 884 Deferred rent receivables 234 307 271 Loss allowance (1 443) (528) (667) NET TENANT RECEIVABLES 59 685 54 829 38 488 Trading property receivables 135 028 45 751 51 883 Municipal and rental deposits 37 264 32 223 36 707 Supplier development loan 34 230 22 500 27 750 Sundry debtors 121 752 162 017 127 225 Deferred consideration 27 523 774 753 8 357 Accrued income 60 190 52 503 128 555 Municipal receivables 21 965 22 932 34 583 VAT receivable 6 227 — 17 507 Prepaid expenses 32 785 95 380 32 217 Insurance receivable 14 680 — — Loss allowance – sundry debtors — (22 881) (26 794) Other receivables 15 343 1 156 1 352 TRADE AND OTHER RECEIVABLES 566 672 1 241 163 477 830 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 36 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST R’000 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP TOTAL NCI % 40% 49% 49.9% 100% AUDITED BALANCE AT 28 FEBRUARY 2025 110 572 956 217 2 675 031 43 334 3 785 154 Transactions with non-controlling interest (1 831) — — — (1 831) Share of profit/(loss) for the period (6 048) 71 602 207 438 (3 494) 269 498 Share of other comprehensive income for the period 2 732 — — — 2 732 Dividend declared — (27 577) (83 039) — (110 616) UNAUDITED BALANCE AT 31 AUGUST 2025 105 425 1 000 242 2 799 430 39 840 3 944 937 Transactions with non-controlling interest 565 — — — 565 Share of profit/(loss) for the period 9 660 59 518 180 547 8 995 258 720 Share of other comprehensive loss for the period (9 825) — — — (9 825) Dividend declared (81 744) (30 380) (92 359) — (204 483) AUDITED BALANCE AT 28 FEBRUARY 2026 24 080 1 029 380 2 887 618 48 835 3 989 913 Share of profit for the period (3 964) 77 986 202 295 (31 244) 245 073 Share of other comprehensive loss for the period 453 — — — 453 Transactions with non-controlling interest (2 324) — — — (2 324) Dividend declared — (31 790) (96 977) — (128 767) UNAUDITED BALANCE AT 31 AUGUST 2026 18 245 1 075 576 2 992 936 17 591 4 104 348 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 37 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.1 SHARE OF PROFIT/(LOSS) FOR THE PERIOD ATTRIBUTABLE TO NON-CONTROLLING INTEREST INCLUDES THE FOLLOWING: EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP TOTAL FOR THE SIX MONTHS ENDED 31 AUGUST 2026 NCI % 40% 49% 49.9% 100% Fair value adjustment – investment property — 41 347 105 049 (31 952) 114 444 Loss on sale of non-current assets (13 722) — — — (13 722) Fair value adjustment – derivatives — (2 778) — — (2 778) Straight-lining of leases adjustment — 3 158 (499) (1 656) 1 003 Net profit from trading properties and developments 6 735 — — — 6 735 Items of a capital nature — — (39) — (39) Deferred tax 474 — — — 474 ADJUSTMENT TO DISTRIBUTABLE EARNINGS (6 513) 41 727 104 511 (33 608) 106 117 CONTRIBUTION TO DISTRIBUTABLE EARNINGS 2 549 36 259 97 784 2 364 138 956 FOR THE SIX MONTHS ENDED 31 AUGUST 2025 NCI % 40% 49% 49.9% 100% Fair value adjustment – investment property — 34 426 59 427 (14 014) 79 839 Loss on sale of non-current assets 3 742 — — — 3 742 Fair value adjustment – derivatives — (1 165) — — (1 165) Straight-lining of leases adjustment — 6 467 55 652 8 044 70 163 Net loss from trading properties and developments (16 081) — — — (16 081) Items of a capital nature 11 875 — — — 11 875 ADJUSTMENT TO DISTRIBUTABLE EARNINGS (464) 39 728 115 079 (5 970) 148 373 CONTRIBUTION TO DISTRIBUTABLE EARNINGS (5 584) 31 874 92 359 2 476 121 125 FOR THE YEAR ENDED 28 FEBRUARY 2026 NCI % 40% 49% 49.9% 100% Fair value adjustment – investment property — 55 646 155 171 (5 475) 205 342 Profit on sale of non-current asset 3 974 — — — 3 974 Fair value adjustment – derivatives — (1 910) — — (1 910) Straight-lining of leases adjustment — 11 275 43 477 6 517 61 269 Net profit from trading properties and developments 2 — — — 2 Items of a capital nature 15 457 — — — 15 457 ADJUSTMENT TO DISTRIBUTABLE EARNINGS 139 076 57 459 134 345 7 865 284 134 CONTRIBUTION TO DISTRIBUTABLE EARNINGS (88 517) 57 956 166 013 39 244 083 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 38 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.2 UNAUDITED SUMMARISED STATEMENTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP R’000 100% 100% 100% 100% SUMMARISED STATEMENT OF FINANCIAL POSITION Non-current assets 178 977 2 684 773 7 627 198 161 735 Current assets 209 469 153 069 104 568 2 031 TOTAL ASSETS 388 446 2 837 842 7 731 766 163 766 Non-current liabilities — 623 226 1 666 998 144 550 Current liabilities 342 833 19 563 66 898 1 627 TOTAL LIABILITIES 342 833 642 789 1 733 896 146 177 NET ASSET VALUE 45 613 2 195 053 5 997 870 17 589 SUMMARISED STATEMENT OF PROFIT AND LOSS Property revenue and tenant recoveries — 121 345 394 205 12 775 Straight-lining of leases adjustment — 6 444 (1 000) (1 656) Net profit from trading properties and turnkey developments 27 228 — — — Property operating and management expenses — (23 106) (133 450) (2 113) Administrative costs 1 506 (17) (427) (307) Fair value adjustment – investment property — 84 383 210 519 (31 952) Other net losses (34 306) — — (427) Finance income — 1 758 1 417 — Finance cost (3 327) (31 652) (65 862) (7 564) Taxation (1 012) — — — PROFIT/(LOSS) FOR THE PERIOD (9 909) 159 155 405 402 (31 244) SUMMARISED STATEMENT OF CASH FLOWS Cash flows from operating activities (9 211) 3 217 18 794 (1 257) Cash flows from investing activities (24 958) (2 883) (106 126) (133) Cash flows from financing activities — — 105 000 — Effect of exchange rate movements 1 589 — — — NET CASH MOVEMENT (32 580) 333 17 668 (1 390) EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 39 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.2 UNAUDITED SUMMARISED STATEMENTS FOR THE SIX MONTHS ENDED 31 AUGUST 2025 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP R’000 100% 100% 100% 100% SUMMARISED STATEMENT OF FINANCIAL POSITION Non-current assets 149 121 2 531 687 7 129 959 184 418 Current assets 896 938 143 833 79 418 2 046 TOTAL ASSETS 1 046 059 2 675 520 7 209 377 186 464 Non-current liabilities — 616 239 1 548 546 144 550 Current liabilities 782 137 17 972 50 748 2 075 TOTAL LIABILITIES 782 137 634 211 1 599 294 146 625 NET ASSET VALUE 263 922 2 041 309 5 610 083 39 839 SUMMARISED STATEMENT OF PROFIT AND LOSS Property revenue and tenant recoveries — 113 213 365 707 12 029 Straight-lining of leases adjustment — 13 198 111 526 8 044 Net loss from trading properties and turnkey developments (14 937) — — — Property operating and management expenses — (21 766) (117 862) (2 267) Administrative costs (1 753) (9) (79) (437) Fair value adjustment – investment property — 70 257 119 092 (14 014) Other net gains/(losses) (9 355) — 3 828 1 073 Finance income 24 262 4 612 2 218 — Finance cost (13 337) (33 379) (68 722) (7 922) PROFIT/(LOSS) FOR THE PERIOD (15 120) 146 126 415 708 (3 494) SUMMARISED STATEMENT OF CASH FLOWS Cash flows from operating activities (195 703) (273) (49 858) 2 306 Cash flows from investing activities (13 014) (545) (38 444) (2) Cash flows from financing activities 177 751 — — (1 000) Effect of exchange rate movements 1 615 — — — NET CASH MOVEMENT (29 351) (818) (88 302) 1 304 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 40 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.2 AUDITED SUMMARISED STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP R’000 100% 100% 100% 100% SUMMARISED STATEMENT OF FINANCIAL POSITION Non-current assets 143 438 2 587 500 7 311 554 195 250 Current assets 407 084 143 575 — 2 038 TOTAL ASSETS 550 522 2 731 075 7 311 554 197 288 Non-current liabilities — 614 944 — 144 550 Current liabilities 490 321 15 356 1 060 497 3 903 TOTAL LIABILITIES 490 321 630 300 1 060 497 148 453 NET ASSET VALUE 60 201 2 100 775 6 251 057 48 835 SUMMARISED STATEMENT OF PROFIT AND LOSS Property revenue and tenant recoveries — 230 006 744 338 24 344 Straight-lining of leases adjustment — 23 010 87 128 6 517 Other revenue — — 9 100 Net profit from trading properties and turnkey developments 30 946 — — — Property operating and management expenses — (43 666) (234 340) (4 214) Administrative costs (6 122) (661) (717) (2 461) Other net gains 1 074 — — 2 040 Fair value adjustment – investment property — 113 564 310 964 (5 475) Finance income 29 599 7 720 3 571 — Finance cost (27 539) (62 382) (133 428) (15 350) Current taxation (18 929) — — — PROFIT FOR THE YEAR 9 029 267 591 777 525 5 501 SUMMARISED STATEMENT OF CASH FLOWS Cash flows from operating activities 50 462 948 — 7 167 Cash flows from investing activities 459 795 (4 926) 23 955 (4 202) Cash flows from financing activities (493 723) — 109 653 (1 000) Effect of exchange rate movements (5 428) — — — NET CASH MOVEMENT 11 106 (3 978) 133 608 1 965 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 41 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 10. GROSS PROPERTY REVENUE UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Contractual rental income 844 834 814 857 1 641 007 Tenant recoveries 304 116 272 321 571 418 PROPERTY REVENUE AND TENANT RECOVERIES 1 148 950 1 087 178 2 212 425 Straight-lining of leases adjustment (3 765) 159 975 189 692 Revenue from trading properties and developments 354 430 421 728 746 413 Revenue from electricity generation 2 643 1 286 3 617 Property management fees 463 665 1 448 TOTAL 1 502 721 1 670 832 3 153 595 11. OTHER NET (LOSSES)/GAINS UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Income from foreign exchange derivative instruments 2 768 — 4 370 Fair value adjustment on derivative instruments (74 251) (2 819) 2 293 Insurance recoveries 27 — 109 (Loss)/gain on sale of subsidiary companies (33 006) (3 202) 10 660 Gain/(loss) on sale of investment property 1 909 (4 181) (13 866) Gain on sale of property, plant and equipment 4 — — Foreign exchange loss on investments in equity instruments (424) — — Foreign exchange gain/(loss) 2 563 (33 821) (138 103) Sundry income 41 4 006 4 347 TOTAL (100 371) (40 017) (130 190) 12. FINANCE COST UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Interest expense on borrowings 369 888 449 192 861 678 Interest on lease liabilities 1 218 1 423 2 755 Finance cost relating to interest rate derivatives 16 846 7 597 21 200 Fair value movement on interest rate derivatives (148 604) 58 481 91 928 Interest on utility accounts and other 3 768 2 121 3 403 Borrowing costs capitalised to investment and trading property (94 541) (103 328) (188 277) FINANCE COST 148 575 415 486 792 687 The capitalisation rate applied during the 6-month period was 8.1% (Aug 25: 8.4%; Feb 26: 8.3%) in relation to general borrowings and 3.9% (Aug 25: 3.9%; Feb 26: 3.5%) in relation to specific borrowings. RECONCILIATION OF FINANCE COST TO FINANCE COST PAID Interest accrued opening balance 85 901 76 211 76 211 Finance cost from continuing operations 148 575 415 487 792 687 Finance cost from discontinuing operations (note 15) 18 146 70 076 117 291 Fair value movement on interest rate derivatives 148 604 (64 244) (97 521) Interest on lease liabilities (1 218) (1 423) (2 755) Loan fees amortised (11 107) (6 029) (9 660) Loan fees paid 3 668 911 1 044 Borrowing costs capitalised to trading property 35 510 13 467 78 203 Interest accrued closing balance (67 949) (96 558) (85 901) FINANCE COST PAID 360 130 407 898 869 599 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 42 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 13. INVESTMENT INCOME UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Dividend income 68 998 — — Fair value adjustment on equity instruments 92 550 — — TOTAL 161 548 — — 14. CASH GENERATED FROM OPERATIONS UNAUDITED UNAUDITED AUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Profit before tax: 1 489 299 1 109 566 2 180 126 from continuing operations 1 437 126 1 054 436 2 045 873 from discontinuing operations 52 173 55 130 134 253 Adjusted for: Finance costs 12 & 15 166 721 485 562 909 980 Finance income (134 434) (187 055) (386 479) Investment income 13 (161 548) — — (Profit)/loss on disposals 11 & 15 (63 738) 17 567 17 700 Foreign exchange differences 11 & 15 (2 138) 33 827 138 090 Straight-lining of leases adjustment 10 & 15 (13 137) (162 555) (149 158) Fair value adjustment – investment property 4 (512 756) (505 251) (971 327) Fair value adjustment – derivative instruments 11 & 15 74 251 2 819 (2 293) Impairment of land options 15 6 212 6 247 12 923 Impairment of trading property 5 — 99 364 75 041 Depreciation and amortisation 8 588 9 129 16 696 IFRS 2 share-based payment charge 21 393 (1 250) 9 735 Loss allowance 743 (1 103) 5 337 Working capital movements: (Increase)/decrease in trading property (10 052) (39 278) 6 592 (Increase)/decrease in trade and other receivables (42 173) (163 161) 608 074 (Increase)/decrease in derivative instruments (171 880) 11 678 7 954 Increase/(decrease) in trade and other payables 22 940 (78 419) (778 456) CASH GENERATED FROM OPERATIONS 678 291 637 687 1 700 533 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 43 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 15. ASSETS HELD-FOR-SALE UNAUDITED UNAUDITED AUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Investment property held-for-sale 4.2 88 700 117 702 117 000 Discontinued operation 15.1 513 079 5 550 011 4 909 899 601 779 5 667 713 5 026 899 15.1 DISCONTINUED OPERATION In May 2025, the Group communicated its intention to exit the UK and dispose of its investment in the UK stabilised portfolio. The portfolio included seven income-producing properties and third-party debt. The portfolio, being the UK Industrial segment has been classified as a discontinued operation in accordance with IFRS 5. Five properties were disposed in May 2026 and only one income-producing property and one land parcel remains within this segment. Financial information relating to the discontinued operation is disclosed below: UNAUDITED UNAUDITED AUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SUMMARISED STATEMENT OF FINANCIAL POSITION ASSETS Investment property held-for-sale 4.2 498 282 5 382 251 4 895 534 Property, plant and equipment — 16 — Trade and other receivables 14 351 25 368 13 908 Cash and cash equivalents 446 142 376 457 TOTAL ASSETS 513 079 5 550 011 4 909 899 LIABILITIES Loans and borrowings 6 — 2 500 558 2 260 395 Trade and other payables 35 187 58 967 39 708 Deferred tax liability 27 220 204 062 184 911 Current tax liability 26 — — TOTAL LIABILITIES 62 433 2 763 587 2 485 014 NET ASSET VALUE 450 646 2 786 424 2 424 885 FCTR (290 130) (407 464) (239 714) UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SUMMARISED STATEMENT OF PROFIT OR LOSS Property revenue and tenant recoveries 58 229 149 351 287 060 Straight-lining of leases adjustment 16 902 2 580 (40 534) GROSS PROPERTY REVENUE 75 131 151 931 246 526 Property operating and management expenses (2 643) (3 187) (5 475) Other net gains/(losses) 15.2 88 619 (16 437) (27 404) Administrative expenses (16 712) (11 905) (20 147) Fair value adjustments – investment property (74 076) (1 441) 40 584 OPERATING PROFIT BEFORE FINANCING ACTIVITIES 70 319 118 961 234 084 Finance cost 15.3 (18 146) (70 076) (117 292) Finance income — 6 245 17 461 NET PROFIT BEFORE TAX 52 173 55 130 134 253 Taxation (1 346) (1 132) (1 795) PROFIT FROM DISCONTINUED OPERATION 50 827 53 998 132 458 OTHER COMPREHENSIVE (LOSS)/INCOME Translation of foreign operations (155 636) 74 794 91 916 Items reclassified to profit or loss: 97 149 1 109 (1 109) TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD (7 660) 129 901 223 265 SUMMARISED STATEMENT OF CASH FLOWS Cash flows from operating activities (1 979 386) 221 516 (79 238) Cash flows from investing activities 1 980 845 111 580 78 426 Cash flows from financing activities — (314 835) — Effect of exchange rate movements (1 448) 19 106 (146) NET CASH MOVEMENT (11) 37 367 (958) EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 44 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 15. ASSETS HELD-FOR-SALE (CONTINUED) 15.2 OTHER NET GAINS/(LOSSES) FROM DISCONTINUING OPERATION UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Gain/(loss) on sale of subsidiary companies 94 831 (9 265) (9 080) Loss on sale of investment property — (919) (5 414) Impairment on land options (6 212) (6 247) (12 923) Foreign exchange (loss)/gain — (6) 13 OTHER NET GAINS/(LOSSES) 88 619 (16 437) (27 405) 15.3 FINANCE COST FROM DISCONTINUED OPERATION Interest expense on borrowings (18 146) (64 313) (111 699) Fair value movement on interest rate derivatives — (5 763) (5 593) FINANCE COST (18 146) (70 077) (117 291) 16. RELATED PARTIES Related party relationships exist between the company, its subsidiaries, directors, and key management of the Group. In the ordinary course of business, the Group entered into the following transactions with related parties: UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 RELATED PARTY BALANCES TRADE AND OTHER RECEIVABLES/ (TRADE AND OTHER PAYABLES) Goldthorpe Development Partnership LLP — 19 589 20 365 Executive directors (35 209) (28 682) (42 250) Non-executive directors — — (172) (35 209) (9 093) (22 057) RELATED PARTY TRANSACTIONS Insurance premiums paid to Commsure Financial Solutions (indirectly owned by Cindy Robertson’s spouse) 17 414 15 152 39 475 Directors remuneration 37 299 34 535 46 239 Dividend paid to directors 15 616 14 267 29 089 70 329 63 955 114 803 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 45 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Other information 46 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026

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Appendix 1 Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 DISTRIBUTABLE EARNINGS DISTRIBUTION POLICY The Group has established strict guidelines regarding its distribution policy to ensure that the distributable earnings is a fair reflection of sustainable earnings; this comprises property related income net of property related expenditure, interest expense and administrative costs. The principles encompassed in the calculation below are largely aligned with the best practice recommendations established by the SA REIT Association published in 2016 and the guidelines further developed in the revised best practice recommendations which were published in November 2019. As distributable earnings is a measure of core earnings, the company has adjusted for the following key items in the determination of this metric: • certain non-cash and accounting adjustments; • gains or losses on the disposal of assets and the associated tax treatment; • certain foreign exchange and hedging items; • net profit arising from land sale and turnkey developments; • antecedent earnings adjustment. The specific adjustments are detailed in the statement of distributable earnings presented below. All of these adjustments are derived from the face of the income statement presented and the notes accompanying these financial statements. UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Adjusted for: Straight-lining of leases adjustment 10 & 15 (13 137) (162 556) (149 158) Fair value adjustment to derivative financial assets and liabilities 11, 12 & 15 (74 353) 67 062 95 228 Fair value adjustment to equity instruments 13 (92 550) — — Share-based payments SOCE 21 692 (1 250) 9 735 Foreign exchange (gain)/loss 11 & 15 (2 138) 33 827 138 090 Depreciation 3 534 4 288 8 170 Other capital items 27 434 6 515 3 836 Deferred taxation 1 298 1 132 1 800 Net development (profit)/loss 2 (18 589) 118 131 97 685 Non-controlling interest 9 5 395 64 792 74 817 Antecedent dividend1 365 (2 733) 42 724 DISTRIBUTABLE EARNINGS 630 110 570 282 1 222 985 RECONCILIATION BETWEEN EARNINGS AND DISTRIBUTABLE EARNINGS UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 PROFIT FOR THE PERIOD (ATTRIBUTABLE TO OWNERS OF THE PARENT) 1 240 719 838 930 1 631 446 Continuing operations 1 189 795 784 904 1 498 828 Discontinuing operations 50 924 54 025 132 618 Adjusted for: Fair value adjustments to investment properties 4 (512 756) (505 251) (971 327) Less: Fair value adjustment to investment properties (NCI) 9 114 444 79 839 205 342 Impairment on land options 15 6 212 6 247 12 923 Loss on sale of non-current assets 11 & 15 (63 738) 17 567 17 700 Less: Loss on sale of non-current assets (NCI) 9 (13 722) 3 742 3 974 HEADLINE EARNINGS 771 159 441 073 900 058 1 In the determination of distributable earnings, an adjustment is made where equity capital is raised or shares are repurchased during the financial year. During the reporting period, the Group repurchased and cancelled shares during June 2026 in relation to the conditional share plan. These movements in share capital gave rise to an antecedent adjustment included above. EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 47 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 1 (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 DISTRIBUTABLE EARNINGS (CONTINUED) RECONCILIATION BETWEEN EARNINGS AND DISTRIBUTABLE EARNINGS (CONTINUED) UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS NUMBER OF SHARES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 THE FOLLOWING INPUTS IMPACTED THE ANTECEDENT EARNINGS ADJUSTMENT: Opening balance – shares in issue 867 290 341 835 179 723 835 179 723 Shares issued for cash — — 41 299 540 Shares issued in terms of conditional share plan 1 309 945 — 392 593 Shares repurchased and cancelled (355 701) (9 188 922) (9 581 515) CLOSING BALANCE – SHARES IN ISSUE 868 244 585 825 990 801 867 290 341 DIVIDENDS DECLARED AND DISTRIBUTION PER SHARE TOTAL DISTRIBUTION FOR THE YEAR – 2027 CENTS PER SHARE R’000 INTERIM DIVIDEND DECLARED ON 14 OCTOBER 2026 (DIVIDEND NUMBER 26) 72.57 630 110 TOTAL DISTRIBUTION FOR THE YEAR – 2026 CENTS PER SHARE R’000 Interim dividend declared on 8 October 2025 (Dividend number 24) 69.04 570 282 Final dividend declared on 13 May 2026 (Dividend number 25) 71.97 652 703 TOTAL DISTRIBUTION FOR THE YEAR ENDED 28 FEBRUARY 2026 141.01 1 222 985 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 48 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 2 Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 SA REIT BPR UNAUDITED UNAUDITED UNAUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SA REIT FUNDS FROM OPERATIONS (“SA REIT FFO”) PROFIT FOR THE PERIOD (ATTRIBUTABLE TO OWNERS OF THE PARENT) 1 240 719 838 929 1 631 446 Adjusted for: Accounting/specific adjustments: (514 850) (656 140) (1 097 591) Fair value adjustments to: Investment property – continued operations 4 (586 832) (506 692) (930 743) Investment property – discontinued operations 15 74 076 1 441 (40 584) Impairment on land options – discontinued operations 15 6 212 6 247 12 923 Depreciation and amortisation – continued operations 3 534 4 271 8 147 Depreciation and amortisation – discontinued operations — 17 23 Deferred tax movement recognised in profit or loss – continued operations (1 186) — — Deferred tax movement recognised in profit or loss – discontinued operations 2 483 1 132 1 800 Straight-lining operating lease adjustment – continued operations 10 3 765 (159 976) (189 692) Straight-lining operating lease adjustment – discontinued operations 15 (16 902) (2 580) 40 534 Adjustments arising from investing activities: (156 288) 17 567 17 701 (Gain)/loss on disposal of: Investment property and property, plant and equipment – continued operations 11 (1 913) 4 181 13 866 Investment property and property, plant and equipment – discontinued operations 15 — 919 5 414 Subsidiaries – continued operations 11 33 006 3 202 (10 660) Subsidiaries – discontinued operations 15 (94 831) 9 265 9 080 Fair value adjustments to: Investment in equity instruments 13 (92 550) — — Foreign exchange and hedging items: (76 491) 100 889 233 317 Fair value adjustments on derivative financial instruments employed solely for hedging purposes – continued operations App 1 (74 353) 61 299 89 635 Fair value adjustments on derivative financial instruments employed solely for hedging purposes – discontinued operations 15 — 5 763 5 593 Foreign exchange (gains)/ losses relating to capital items – realised and unrealised – continued operations 11 (2 138) 33 821 138 103 Foreign exchange (gains)/ losses relating to capital items – realised and unrealised – discontinued operations 15 — 6 (13) Other adjustments: 106 482 145 640 326 857 Non-controlling interests in respect of the above adjustments App 1 106 117 148 373 284 133 Antecedent earnings adjustment App 1 365 (2 733) 42 724 SA REIT FFO 599 572 446 885 1 111 729 Number of shares outstanding at year-end 868 244 585 825 990 801 867 290 341 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 49 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 2 (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 UNAUDITED UNAUDITED UNAUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SA REIT FFO PER SHARE (CENTS) 69.06 54.10 128.18 Company-specific adjustments per share (cents) 3.52 14.94 12.83 Equity-settled share-based payment charge 2.50 (0.15) 1.12 Net development (profit)/loss (2.14) 14.30 11.26 Capital items (non-distributable) 3.16 0.79 0.45 DISTRIBUTABLE EARNINGS PER SHARE (CENTS) 72.57 69.04 141.01 SA REIT NET ASSET VALUE (“SA REIT NAV”) Reported NAV attributable to the parent 15 135 969 13 987 676 14 473 386 Adjustments: Dividend to be declared App 1 (630 109) (570 282) (652 703) Fair value of certain derivative financial instruments (206 924) 8 507 43 902 Deferred tax – discontinued operations 15 27 220 204 062 184 911 SA REIT NAV 14 326 156 13 629 963 14 049 495 SHARES OUTSTANDING Number of shares in issue at period end (net of treasury shares) 868 244 585 825 990 801 867 290 341 Effect of dilutive instruments 6 221 345 9 168 511 6 600 436 DILUTIVE NUMBER OF SHARES IN ISSUE 874 465 930 835 159 312 873 890 777 SA REIT NAV PER SHARE (RAND): 16.38 16.32 16.08 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 50 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 2 (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 UNAUDITED UNAUDITED UNAUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SA REIT COST-TO-INCOME RATIO RENTAL INCOME Contractual rental income per IFRS income statement (excluding straight-lining) – continued operations 10 844 834 814 857 1 641 007 Contractual rental income per IFRS income statement (excluding straight-lining) – discontinued operations 57 096 146 344 281 781 Utility and operating recoveries per IFRS income statement – continued operations 10 304 116 272 321 571 418 Utility and operating recoveries per IFRS income statement – discontinued operations 1 133 3 008 5 279 GROSS RENTAL INCOME 1 207 179 1 236 530 2 499 485 EXPENSES Operating expenses per IFRS income statement (includes municipal expenses) – continued operations SOCI 283 464 250 354 544 799 Operating expenses per IFRS income statement (includes municipal expenses) – discontinued operations 15 2 643 3 187 5 475 Administrative expenses per IFRS income statement – continued operations SOCI 82 844 61 176 126 698 Administrative expenses per IFRS income statement – discontinued operations 15 16 713 11 905 20 147 Exclude: Depreciation expense in relation to property, plant and equipment – continued operations App 1 (3 534) (4 271) (6 573) Depreciation expense in relation to property, plant and equipment – discontinued operations — (17) (23) OPERATING COSTS 382 130 322 334 690 522 SA REIT COST-TO-INCOME RATIO 31.7% 26.1% 27.6% SA REIT ADMINISTRATIVE COST-TO-INCOME RATIO ADMINISTRATIVE EXPENSES Administrative expenses per IFRS income statement – continued operations SOCI 82 844 61 176 126 698 Administrative expenses per IFRS income statement – discontinued operations 15 16 713 11 905 20 147 ADMINISTRATIVE COSTS 99 557 73 081 146 845 SA REIT ADMINISTRATIVE COST-TO-INCOME RATIO 8.2% 5.9% 5.9% SA REIT GLA VACANCY RATE Gross lettable area of vacant space 24 011 22 743 5 097 Gross lettable area of total property portfolio 1 569 308 1 518 143 1 555 015 SA REIT GLA VACANCY RATE 1.5% 1.5% 0.3% EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 51 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 2 (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 COST OF DEBT SA UK SA UK SA UK Variable interest-rate borrowings Floating reference rate plus weighted average margin 8.27% 5.07% 8.37% n/a 7.92% n/a Fixed interest-rate borrowings Weighted average fixed rate n/a n/a n/a 3.92% n/a 3.92% PRE-ADJUSTED WEIGHTED AVERAGE COST OF DEBT 8.27% 5.07% 8.37% 3.92% 7.92% 3.92% ADJUSTMENTS: Impact of interest rate derivatives (0.07%) 0.00% (0.15%) (0.06%) 0.19% (0.06%) Impact of cross-currency interest rate swaps 0.00% 0.00% 0.00% 0.00% Amortised transaction costs imputed into the effective interest rate — — 0.03% 0.13% 0.03% 0.20% ALL-IN WEIGHTED AVERAGE COST OF DEBT 8.20% 5.07% 8.26% 3.99% 8.14% 4.06% All rates are nominal annual compounded quarterly (nacq) UNAUDITED UNAUDITED UNAUDITED NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SA REIT LOAN-TO-VALUE (“SA REIT LTV”) Gross debt – continued operations 6 9 467 247 10 106 751 9 863 949 Gross debt – discontinued operations 15 — 2 500 558 2 260 395 Less: Cash and cash equivalents (and including short-term deposits) – continued operations SOFP (1 739 874) (1 570 052) (2 081 114) Cash and cash equivalents (and including short-term deposits) – discontinued operations 15 (446) (142 376) (457) Less: Derivative financial instruments (206 924) 8 507 43 902 NET DEBT A 7 520 003 10 903 387 10 086 676 Total assets – per statement of financial position 29 283 381 31 448 176 31 400 330 Less: Cash and cash equivalents (and including short-term deposits) – continued operations SOFP (1 739 874) (1 570 052) (2 081 114) Cash and cash equivalents (and including short-term deposits) – discontinued operations 15 (446) (142 376) (457) Derivative financial assets 3 (235 251) (77 205) (64 951) Property, plant and equipment – continued operations SOFP (26 294) (33 311) (29 573) Property, plant and equipment – discontinued operations 15 — (16) — Deferred Tax SOFP (1 173) — — Trade and other receivables (less deferred consideration) – continued operations 8 (548 569) (466 410) (469 472) Trade and other receivables – discontinued operations 15 (14 351) (25 368) (13 908) CARRYING AMOUNT OF PROPERTY-RELATED ASSETS B 26 717 423 29 133 438 28 740 855 SA REIT LTV A/B 28.1% 37.4% 35.1% EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 52 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 3 Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 CASH TO DISTRIBUTABLE EARNINGS RECONCILIATION BETWEEN CASH AND DISTRIBUTABLE EARNINGS UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 CASH GENERATED FROM OPERATIONS 14 678 291 637 687 1 700 533 Working capital movements Trading properties 14 10 052 39 278 (6 592) Trade and other receivables 14 42 173 163 161 (608 074) Derivative instruments 14 171 880 (11 678) (7 954) Trade and other payables 14 (22 940) 78 419 778 456 Adjustments to cash flow Depreciation and amortisation 14 (8 588) (9 129) (16 696) Loss allowance 14 (743) 1 103 (5 337) Impairment of trading property 14 — (99 364) (75 041) Fair value adjustment – derivative instruments 14 (74 251) (2 819) 2 293 IFRS 2 share-based payment charge 14 (21 393) 1 250 (9 735) Adjustment to distributable earnings Fair value adjustment to derivative financial assets and liabilities App 1 (74 353) 67 062 95 228 Fair value adjustment to equity instruments App 1 (92 550) — — Net development (profit)/loss App 1 (18 589) 118 131 97 685 Other capital items App 1 27 434 6 515 3 836 Depreciation App 1 3 534 4 288 8 170 Share-based payments App 1 21 692 (1 250) 9 735 Antecedent dividend App 1 365 (2 733) 42 724 Other adjustments Finance cost 12 & 15 (166 721) (485 562) (909 980) Finance income 2 134 434 187 055 386 479 Investment income 13 161 548 — — Current tax 2 (2 209) (7) (18 663) Non-controlling interest 9 (138 956) (121 125) (244 084) DISTRIBUTABLE EARNINGS 630 110 570 282 1 222 985 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 53 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Company information EQUITES PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/080877/06) Share code: EQU ISIN: ZAE000188843 JSE alpha code: EQUI (Approved as a REIT by the JSE) DIRECTORS INDEPENDENT NON-EXECUTIVE DIRECTORS F Tonelli (Chairman), MA Brey, E Cross, K Ntuli, AD Murray, N Mkhize, C Robertson, PL Campher NON-EXECUTIVE DIRECTOR AJ Gouws EXECUTIVE DIRECTORS A Taverna-Turisan (CEO), GR Gous (COO), L Razack (CFO) REGISTERED OFFICE 14th Floor Portside Tower 4 Bree Street Cape Town 8001 CONTACT DETAILS info@equites.co.za COMPANY SECRETARY T Vilakazi TRANSFER SECRETARY Computershare Investor Services Proprietary Ltd AUDITORS Deloitte & Touche EQUITY SPONSOR Java Capital DEBT SPONSOR Nedbank Corporate and Investment Banking, a division of Nedbank Ltd DATE OF PUBLICATION 15 October 2026 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 54 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Glossary 3PL – Third-party logistics App – Appendix Aviva – Aviva plc B-BBEE – Broad-based Black Economic Empowerment bn – billion Board – Equites board of directors bp – Basis point BPR – Best Practice Recommendations c. – circa CEO – Chief Executive Officer CFO – Chief Financial Officer Company – Equites Property Fund Limited COO – Chief Operating Officer CPI – Consumer Price Index CPS – Cents per share CSDP – Central Securities Depository Participant DCM – Debt capital market DHL – DHL Supply Chain (South Africa) Proprietary Limited DMTN – Domestic Medium Term Note DPS – Dividend per share DTA – Double Taxation Agreement EDGE – Excellence in Design for Greater Efficiencies ENGL – Equites Newlands Group Limited Equites – Equites Property Fund Limited ESG – Environmental, Social and Governance FCTR – Foreign currency translation reserve FFO – Funds from operations FMCG – Fast-moving consumer goods FTSE – Financial Times Stock Exchange FV – Fair value FX – Foreign exchange FY – Financial year GBP – Pound sterling GCR – Global Credit Rating GDP – Gross Domestic Product GLA – Gross lettable area Group – Equites Property Fund Limited and its subsidiaries IAS – International Accounting Standards IFC – International Finance Corporation IFRS® – International Financial Reporting Standards Income Tax Act – Income Tax Act, No. 58 of 1962, as amended IP – Investment property JIBAR – Johannesburg Interbank Average Rate JSE – Johannesburg Stock Exchange LfL – Like-for-like LTV – Loan-to-value MW – Mega Watts NACQ – Nominal Annual Compounded Quarterly NAV – Net asset value NCI – Non-controlling interest Newlands – Newlands Property Developers LLP NPC – Non-profit company PPA – Power Purchase Agreement PV – Photovoltaic REIT – Real Estate Investment Trust RFP – Request for proposal RLF – Retail Logistics Fund (RF) Proprietary Limited RMB – Rand Merchant Bank SA – South Africa SAICA – The South African Institute of Chartered Accountants SARB – South African Reserve Bank SBSA – Standard Bank of South Africa SENS – Stock Exchange News Service SHOPRITE – Shoprite Checkers Proprietary Limited SOCE – Statement of changes in equity SOCI – statement of Comprehensive Income SOFP – Statement of Financial Position SONIA – Sterling Overnight Index Average sq ft – Square feet Tridevco – Tridevco Proprietary Limited UK – United Kingdom UN SDGs – United Nations Sustainable Development Goals US – United States WALE – Weighted Average Lease Expiry YRS – years ZAR – South African Rand Z/ZARONIA – South African Rand Overnight Index Average EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 55 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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https://maps.app.goo.gl/ueUZ76VTytQ4Wurz5 https://maps.app.goo.gl/VxYCp4Uia4QDS9GSA https://www.facebook.com/EquitesPropertyFundLimited/ https://www.instagram.com/equitespropertyfundlimited/?hl=en https://www.linkedin.com/company/equites-property-fund-limited https://twitter.com/EquitesPropFund https://www.youtube.com/channel/UCY3v4lu9WR0UFsmntED8wBA https://equites.co.za/ 14th Floor Portside Tower 4 Bree Street Cape Town 8001 South Africa 4 Meadowview Lane Equites Park Meadowview Linbro Park 2065 South Africa +27 21 460 0404 +27 10 286 0469 info@equites.co.za info@equites.co.za Western Cape Gauteng equites.co.za

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Unaudited condensed consolidated interim results for the six months ended 31 August 2026

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 2. SEGMENT INFORMATION (CONTINUED) The audited segment information for the Group for the year ended 28 February 2026 is set out below: OPERATING SEGMENTS R’000 NOTES SA INDUSTRIAL UK DEVELOPER OTHER UK INDUSTRIAL TOTAL STATEMENT OF COMPREHENSIVE INCOME Property revenue and tenant recoveries 10 & 15 2 212 425 — — 287 060 2 499 485 Straight-lining of leases adjustment 10 & 15 189 692 — — (40 534) 149 158 Other revenue 10 4 657 746 413 408 — 751 478 Cost of sales (1 680) (811 429) — — (813 109) Property operating and management expenses (544 799) — — (5 475) (550 274) Administrative cost (112 383) (14 016) (299) (20 147) (146 845) Fair value adjustments – investment property 4 930 744 — — 40 584 971 328 Operating profit/(loss) before financing activities 2 538 531 (69 097) 109 234 084 2 703 627 Finance income 369 017 — — 17 461 386 478 Finance cost 12 & 15 (792 687) — — (117 292) (909 979) Current tax expense — (18 654) (9) — (18 663) STATEMENT OF FINANCIAL POSITION Investment property (including straight-lining) 4 22 687 330 — — — 22 687 330 Investment property held-for-sale 4 117 000 — — 4 895 534 5 012 534 Trading property 5 — 955 217 — — 955 217 Trade and other receivables 8 & 15 212 710 264 881 239 13 908 491 738 Loans and borrowings 6 & 15 9 863 949 — — 2 260 395 12 124 344 Total assets 24 580 737 1 906 751 2 942 4 909 899 31 400 330 Total liabilities 10 328 038 121 304 2 675 2 485 014 12 937 031 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 30 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 3. FAIR VALUE MEASUREMENT (CONTINUED) DERIVATIVE FINANCIAL ASSETS AND LIABILITIES INTEREST RATE SWAPS AND FOREIGN CURRENCY INSTRUMENTS: The fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Estimated cash flows are discounted using a yield curve constructed from similar sources which reflects the relevant benchmark interbank rate used by market participants for this purpose when pricing interest rate swaps. The fair value estimate is subject to a credit risk adjustment that reflects the credit risk of the Group and of the counterparty. This is calculated based on credit spreads derived from current credit default swap or bond prices. SENSITIVITY OF FAIR VALUES TO CHANGES IN UNOBSERVABLE INPUTS (LEVEL 3): Valuation of investment properties is sensitive to changes in unobservable inputs used in determining fair value. R’000 DISCOUNT RATE EXIT CAPITALISATION RATE MARKET RENTALS 31-AUG-26 Change in input -0.1% +0.1% -0.1% +0.1% +5% -5% Increase/(decrease) SA industrial 264 427 (254 814) 270 697 (240 433) 477 963 (521 555) 31-AUG-25 Change in input -0.1% +0.1% -0.1% +0.1% +5% -5% Increase/(decrease) SA industrial 205 669 (194 593) 381 310 (269 039) 463 532 (417 858) 28-FEB-26 Change in input -0.1% +0.1% -0.1% +0.1% +5% -5% Increase/(decrease) SA industrial 273 757 (292 527) 226 454 (348 250) 426 861 (475 472) 4. INVESTMENT PROPERTY UNAUDITED UNAUDITED AUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Income-producing investment property 20 795 034 19 203 126 19 983 971 Investment property under development 1 192 522 355 265 920 302 Freehold land 293 226 879 370 289 169 Right-of-use asset 11 288 13 441 12 976 INVESTMENT PROPERTY (EXCLUDING STRAIGHT-LINING) 4.1 22 292 070 20 451 200 21 206 418 Straight-lining lease income accrual 1 476 676 1 450 922 1 480 912 Investment property held-for-sale 4.2 586 982 5 499 953 5 012 534 FAIR VALUE OF INVESTMENT PROPERTY 24 355 728 27 402 075 27 699 864 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 32 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 4. INVESTMENT PROPERTY (CONTINUED) 4.2 INVESTMENT PROPERTY HELD-FOR-SALE SA UK R’000 LOGISTICS INDUSTRIAL ZONED INDUSTRIAL LAND LOGISTICS STRATEGIC LAND HOLDINGS LAND OPTIONS TOTAL AUDITED BALANCE AS AT 28 FEBRUARY 2025 — 120 000 19 300 720 855 12 292 87 883 960 330 Transfers 117 702 — — 4 858 767 — — 4 976 469 Improvements — — — — — — — Construction and development costs — — 678 — — 21 715 22 393 Letting commission amortised — — — (104) — — (104) Straight-lining of leases adjustment — — — (759) — — (759) Fair value adjustment — — — 90 — — 90 Impairment — — — — — (6 247) (6 247) Foreign exchange gain — — — 122 097 — 1 924 124 021 Disposals — (120 000) (19 978) (412 431) (12 292) (11 539) (576 240) UNAUDITED BALANCE AS AT 31 AUGUST 2025 117 702 — — 5 288 515 — 93 736 5 499 953 Transfers (702) (33) — (2 299) — — (3 035) Improvements — — — (74) — — (74) Construction and development costs — — (593) — 5 635 37 080 42 121 Letting commission amortised — — — (520) — — (520) Straight-lining of leases adjustment — — — (39 775) — — (39 775) Fair value adjustment — — — 40 494 — — 40 494 Impairment — — — — — (6 676) (6 676) Foreign exchange loss — — — (542 813) — (10 025) (552 839) Disposal — 33 593 32 207 (5 635) 5 685 32 883 AUDITED BALANCE AS AT 28 FEBRUARY 2026 117 000 — — 4 775 735 — 119 799 5 012 534 Transfers 88 700 — — — — — 88 700 Improvements 295 — — — — — 295 Construction and development costs — — — — — 31 391 31 391 Letting commission amortised — — — (146) — — (146) Straight-lining of leases adjustment — — — 16 902 — — 16 902 Fair value adjustment — — — (74 075) — — (74 075) Impairment — — — — — (6 212) (6 212) Foreign exchange gain — — — 168 417 — 2 299 170 716 Disposals (117 295) — — (4 535 828) — — (4 653 123) UNAUDITED BALANCE AS AT 31 AUGUST 2026 88 700 — — 351 005 — 147 277 586 982 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 34 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST R’000 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP TOTAL NCI % 40% 49% 49.9% 100% AUDITED BALANCE AT 28 FEBRUARY 2025 110 572 956 217 2 675 031 43 334 3 785 154 Transactions with non-controlling interest (1 831) — — — (1 831) Share of profit/(loss) for the period (6 048) 71 602 207 438 (3 494) 269 498 Share of other comprehensive income for the period 2 732 — — — 2 732 Dividend declared — (27 577) (83 039) — (110 616) UNAUDITED BALANCE AT 31 AUGUST 2025 105 425 1 000 242 2 799 430 39 840 3 944 937 Transactions with non-controlling interest 565 — — — 565 Share of profit/(loss) for the period 9 660 59 518 180 547 8 995 258 720 Share of other comprehensive loss for the period (9 825) — — — (9 825) Dividend declared (81 744) (30 380) (92 359) — (204 483) AUDITED BALANCE AT 28 FEBRUARY 2026 24 080 1 029 380 2 887 618 48 835 3 989 913 Share of profit for the period (3 964) 77 986 202 295 (31 244) 245 073 Share of other comprehensive loss for the period 453 — — — 453 Transactions with non-controlling interest (2 324) — — — (2 324) Dividend declared — (31 790) (96 977) — (128 767) UNAUDITED BALANCE AT 31 AUGUST 2026 18 245 1 075 576 2 992 936 17 591 4 104 348 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 37 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.1 SHARE OF PROFIT/(LOSS) FOR THE PERIOD ATTRIBUTABLE TO NON-CONTROLLING INTEREST INCLUDES THE FOLLOWING: EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP TOTAL FOR THE SIX MONTHS ENDED 31 AUGUST 2026 NCI % 40% 49% 49.9% 100% Fair value adjustment – investment property — 41 347 105 049 (31 952) 114 444 Loss on sale of non-current assets (13 722) — — — (13 722) Fair value adjustment – derivatives — (2 778) — — (2 778) Straight-lining of leases adjustment — 3 158 (499) (1 656) 1 003 Net profit from trading properties and developments 6 735 — — — 6 735 Items of a capital nature — — (39) — (39) Deferred tax 474 — — — 474 ADJUSTMENT TO DISTRIBUTABLE EARNINGS (6 513) 41 727 104 511 (33 608) 106 117 CONTRIBUTION TO DISTRIBUTABLE EARNINGS 2 549 36 259 97 784 2 364 138 956 FOR THE SIX MONTHS ENDED 31 AUGUST 2025 NCI % 40% 49% 49.9% 100% Fair value adjustment – investment property — 34 426 59 427 (14 014) 79 839 Loss on sale of non-current assets 3 742 — — — 3 742 Fair value adjustment – derivatives — (1 165) — — (1 165) Straight-lining of leases adjustment — 6 467 55 652 8 044 70 163 Net loss from trading properties and developments (16 081) — — — (16 081) Items of a capital nature 11 875 — — — 11 875 ADJUSTMENT TO DISTRIBUTABLE EARNINGS (464) 39 728 115 079 (5 970) 148 373 CONTRIBUTION TO DISTRIBUTABLE EARNINGS (5 584) 31 874 92 359 2 476 121 125 FOR THE YEAR ENDED 28 FEBRUARY 2026 NCI % 40% 49% 49.9% 100% Fair value adjustment – investment property — 55 646 155 171 (5 475) 205 342 Profit on sale of non-current asset 3 974 — — — 3 974 Fair value adjustment – derivatives — (1 910) — — (1 910) Straight-lining of leases adjustment — 11 275 43 477 6 517 61 269 Net profit from trading properties and developments 2 — — — 2 Items of a capital nature 15 457 — — — 15 457 ADJUSTMENT TO DISTRIBUTABLE EARNINGS 139 076 57 459 134 345 7 865 284 134 CONTRIBUTION TO DISTRIBUTABLE EARNINGS (88 517) 57 956 166 013 39 244 083 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 38 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.2 UNAUDITED SUMMARISED STATEMENTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP R’000 100% 100% 100% 100% SUMMARISED STATEMENT OF FINANCIAL POSITION Non-current assets 178 977 2 684 773 7 627 198 161 735 Current assets 209 469 153 069 104 568 2 031 TOTAL ASSETS 388 446 2 837 842 7 731 766 163 766 Non-current liabilities — 623 226 1 666 998 144 550 Current liabilities 342 833 19 563 66 898 1 627 TOTAL LIABILITIES 342 833 642 789 1 733 896 146 177 NET ASSET VALUE 45 613 2 195 053 5 997 870 17 589 SUMMARISED STATEMENT OF PROFIT AND LOSS Property revenue and tenant recoveries — 121 345 394 205 12 775 Straight-lining of leases adjustment — 6 444 (1 000) (1 656) Net profit from trading properties and turnkey developments 27 228 — — — Property operating and management expenses — (23 106) (133 450) (2 113) Administrative costs 1 506 (17) (427) (307) Fair value adjustment – investment property — 84 383 210 519 (31 952) Other net losses (34 306) — — (427) Finance income — 1 758 1 417 — Finance cost (3 327) (31 652) (65 862) (7 564) Taxation (1 012) — — — PROFIT/(LOSS) FOR THE PERIOD (9 909) 159 155 405 402 (31 244) SUMMARISED STATEMENT OF CASH FLOWS Cash flows from operating activities (9 211) 3 217 18 794 (1 257) Cash flows from investing activities (24 958) (2 883) (106 126) (133) Cash flows from financing activities — — 105 000 — Effect of exchange rate movements 1 589 — — — NET CASH MOVEMENT (32 580) 333 17 668 (1 390) EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 39 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.2 UNAUDITED SUMMARISED STATEMENTS FOR THE SIX MONTHS ENDED 31 AUGUST 2025 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP R’000 100% 100% 100% 100% SUMMARISED STATEMENT OF FINANCIAL POSITION Non-current assets 149 121 2 531 687 7 129 959 184 418 Current assets 896 938 143 833 79 418 2 046 TOTAL ASSETS 1 046 059 2 675 520 7 209 377 186 464 Non-current liabilities — 616 239 1 548 546 144 550 Current liabilities 782 137 17 972 50 748 2 075 TOTAL LIABILITIES 782 137 634 211 1 599 294 146 625 NET ASSET VALUE 263 922 2 041 309 5 610 083 39 839 SUMMARISED STATEMENT OF PROFIT AND LOSS Property revenue and tenant recoveries — 113 213 365 707 12 029 Straight-lining of leases adjustment — 13 198 111 526 8 044 Net loss from trading properties and turnkey developments (14 937) — — — Property operating and management expenses — (21 766) (117 862) (2 267) Administrative costs (1 753) (9) (79) (437) Fair value adjustment – investment property — 70 257 119 092 (14 014) Other net gains/(losses) (9 355) — 3 828 1 073 Finance income 24 262 4 612 2 218 — Finance cost (13 337) (33 379) (68 722) (7 922) PROFIT/(LOSS) FOR THE PERIOD (15 120) 146 126 415 708 (3 494) SUMMARISED STATEMENT OF CASH FLOWS Cash flows from operating activities (195 703) (273) (49 858) 2 306 Cash flows from investing activities (13 014) (545) (38 444) (2) Cash flows from financing activities 177 751 — — (1 000) Effect of exchange rate movements 1 615 — — — NET CASH MOVEMENT (29 351) (818) (88 302) 1 304 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 40 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 9. NON-CONTROLLING INTEREST (CONTINUED) 9.2 AUDITED SUMMARISED STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 EQUITES NEWLANDS GROUP LIMITED PLUMBAGO INVESTMENT PLATFORM PROPRIETARY LIMITED GROUP RETAIL LOGISTICS FUND (RF) PROPRIETARY LIMITED THE MICHEL LANFRANCHI FOUNDATION NPC GROUP R’000 100% 100% 100% 100% SUMMARISED STATEMENT OF FINANCIAL POSITION Non-current assets 143 438 2 587 500 7 311 554 195 250 Current assets 407 084 143 575 — 2 038 TOTAL ASSETS 550 522 2 731 075 7 311 554 197 288 Non-current liabilities — 614 944 — 144 550 Current liabilities 490 321 15 356 1 060 497 3 903 TOTAL LIABILITIES 490 321 630 300 1 060 497 148 453 NET ASSET VALUE 60 201 2 100 775 6 251 057 48 835 SUMMARISED STATEMENT OF PROFIT AND LOSS Property revenue and tenant recoveries — 230 006 744 338 24 344 Straight-lining of leases adjustment — 23 010 87 128 6 517 Other revenue — — 9 100 Net profit from trading properties and turnkey developments 30 946 — — — Property operating and management expenses — (43 666) (234 340) (4 214) Administrative costs (6 122) (661) (717) (2 461) Other net gains 1 074 — — 2 040 Fair value adjustment – investment property — 113 564 310 964 (5 475) Finance income 29 599 7 720 3 571 — Finance cost (27 539) (62 382) (133 428) (15 350) Current taxation (18 929) — — — PROFIT FOR THE YEAR 9 029 267 591 777 525 5 501 SUMMARISED STATEMENT OF CASH FLOWS Cash flows from operating activities 50 462 948 — 7 167 Cash flows from investing activities 459 795 (4 926) 23 955 (4 202) Cash flows from financing activities (493 723) — 109 653 (1 000) Effect of exchange rate movements (5 428) — — — NET CASH MOVEMENT 11 106 (3 978) 133 608 1 965 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 41 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Notes to the summary consolidated financial statements (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 15. ASSETS HELD-FOR-SALE (CONTINUED) 15.2 OTHER NET GAINS/(LOSSES) FROM DISCONTINUING OPERATION UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 Gain/(loss) on sale of subsidiary companies 94 831 (9 265) (9 080) Loss on sale of investment property — (919) (5 414) Impairment on land options (6 212) (6 247) (12 923) Foreign exchange (loss)/gain — (6) 13 OTHER NET GAINS/(LOSSES) 88 619 (16 437) (27 405) 15.3 FINANCE COST FROM DISCONTINUED OPERATION Interest expense on borrowings (18 146) (64 313) (111 699) Fair value movement on interest rate derivatives — (5 763) (5 593) FINANCE COST (18 146) (70 077) (117 291) 16. RELATED PARTIES Related party relationships exist between the company, its subsidiaries, directors, and key management of the Group. In the ordinary course of business, the Group entered into the following transactions with related parties: UNAUDITED UNAUDITED UNAUDITED 6 MONTHS 6 MONTHS 12 MONTHS R’000 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 RELATED PARTY BALANCES TRADE AND OTHER RECEIVABLES/ (TRADE AND OTHER PAYABLES) Goldthorpe Development Partnership LLP — 19 589 20 365 Executive directors (35 209) (28 682) (42 250) Non-executive directors — — (172) (35 209) (9 093) (22 057) RELATED PARTY TRANSACTIONS Insurance premiums paid to Commsure Financial Solutions (indirectly owned by Cindy Robertson’s spouse) 17 414 15 152 39 475 Directors remuneration 37 299 34 535 46 239 Dividend paid to directors 15 616 14 267 29 089 70 329 63 955 114 803 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 45 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 2 (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 UNAUDITED UNAUDITED UNAUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SA REIT FFO PER SHARE (CENTS) 69.06 54.10 128.18 Company-specific adjustments per share (cents) 3.52 14.94 12.83 Equity-settled share-based payment charge 2.50 (0.15) 1.12 Net development (profit)/loss (2.14) 14.30 11.26 Capital items (non-distributable) 3.16 0.79 0.45 DISTRIBUTABLE EARNINGS PER SHARE (CENTS) 72.57 69.04 141.01 SA REIT NET ASSET VALUE (“SA REIT NAV”) Reported NAV attributable to the parent 15 135 969 13 987 676 14 473 386 Adjustments: Dividend to be declared App 1 (630 109) (570 282) (652 703) Fair value of certain derivative financial instruments (206 924) 8 507 43 902 Deferred tax – discontinued operations 15 27 220 204 062 184 911 SA REIT NAV 14 326 156 13 629 963 14 049 495 SHARES OUTSTANDING Number of shares in issue at period end (net of treasury shares) 868 244 585 825 990 801 867 290 341 Effect of dilutive instruments 6 221 345 9 168 511 6 600 436 DILUTIVE NUMBER OF SHARES IN ISSUE 874 465 930 835 159 312 873 890 777 SA REIT NAV PER SHARE (RAND): 16.38 16.32 16.08 EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 50 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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Appendix 2 (continued) Equites Property Fund Limited and its subsidiaries for the six months ended 31 August 2026 UNAUDITED UNAUDITED UNAUDITED R’000 NOTES 31 AUGUST 2026 31 AUGUST 2025 28 FEBRUARY 2026 SA REIT COST-TO-INCOME RATIO RENTAL INCOME Contractual rental income per IFRS income statement (excluding straight-lining) – continued operations 10 844 834 814 857 1 641 007 Contractual rental income per IFRS income statement (excluding straight-lining) – discontinued operations 57 096 146 344 281 781 Utility and operating recoveries per IFRS income statement – continued operations 10 304 116 272 321 571 418 Utility and operating recoveries per IFRS income statement – discontinued operations 1 133 3 008 5 279 GROSS RENTAL INCOME 1 207 179 1 236 530 2 499 485 EXPENSES Operating expenses per IFRS income statement (includes municipal expenses) – continued operations SOCI 283 464 250 354 544 799 Operating expenses per IFRS income statement (includes municipal expenses) – discontinued operations 15 2 643 3 187 5 475 Administrative expenses per IFRS income statement – continued operations SOCI 82 844 61 176 126 698 Administrative expenses per IFRS income statement – discontinued operations 15 16 713 11 905 20 147 Exclude: Depreciation expense in relation to property, plant and equipment – continued operations App 1 (3 534) (4 271) (6 573) Depreciation expense in relation to property, plant and equipment – discontinued operations — (17) (23) OPERATING COSTS 382 130 322 334 690 522 SA REIT COST-TO-INCOME RATIO 31.7% 26.1% 27.6% SA REIT ADMINISTRATIVE COST-TO-INCOME RATIO ADMINISTRATIVE EXPENSES Administrative expenses per IFRS income statement – continued operations SOCI 82 844 61 176 126 698 Administrative expenses per IFRS income statement – discontinued operations 15 16 713 11 905 20 147 ADMINISTRATIVE COSTS 99 557 73 081 146 845 SA REIT ADMINISTRATIVE COST-TO-INCOME RATIO 8.2% 5.9% 5.9% SA REIT GLA VACANCY RATE Gross lettable area of vacant space 24 011 22 743 5 097 Gross lettable area of total property portfolio 1 569 308 1 518 143 1 555 015 SA REIT GLA VACANCY RATE 1.5% 1.5% 0.3% EQUITES PROPERTY FUND LIMITED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2026 51 THE SIX MONTHS IN REVIEW COMMENTARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OTHER INFORMATION

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