ACCELERATE PROPERTY FUND LIMITED - Trading statement

Trading statement

ACCELERATE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 2005/015057/06)
JSE code: APF ISIN code: ZAE000185815
Bond company code: APFE
LEI: 378900D514788C447E45
(REIT status approved)
("Accelerate" or the "Company")


TRADING STATEMENT


In terms of paragraph 3.4(b) of the JSE Listings Requirements, companies are required to
publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results to be reported upon next, being the interim results for the six months ended
30 September 2025 (the "current reporting period"), will differ by at least 15% (for property
entities which elected distribution per share as the key performance metric for trading
statement purposes) from the financial results for the corresponding period in the prior year,
being the interim results for the six months ended 30 September 2024 ("HY2025" or the
"comparative reporting period").

Accelerate uses distribution per share as its key performance metric for trading statement
purposes. Additionally, Accelerate has undertaken to disclose distributable earnings for
trading statement purposes to provide additional information to shareholders and
noteholders.

Shareholders and noteholders are advised that a reasonable degree of certainty exists that:
-    Accelerate will not be declaring a distribution for the current reporting period, taking
     into consideration the working capital cash flow forecast, expected working capital
     requirements and capital expenditure requirements. No distribution was declared in the
     comparative reporting period.
-    The distributable earnings for the current reporting period will be between R56 million
     and R58 million, when compared to the distributable loss for HY2025 of R11,089 million.
     The increase in distributable earnings reflects the restructuring initiatives that have been
     implemented and that are currently in progress, as well as the insurance settlement
     payment.

This trading statement has not been reviewed or reported on by the Company's external
auditors.

Accelerate intends publishing its interim results for the six months ended 30 September 2025
on or about 28 November 2025.

Fourways
27 November 2025

Equity and Debt Sponsor
Questco Corporate Advisory

Date: 27-11-2025 12:15:00
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