DIPULA PROPERTIES LIMITED - Unaudited Condensed Consolidated Interim Financial Results for the six months ended 28 February 2026

Unaudited Condensed Consolidated Interim Financial Results for the six months ended 28 February 2026

Dipula Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/013963/06)
JSE share code: DIB
ISIN: ZAE000203394
(Approved as a REIT by the JSE) ("Dipula" or "the Company")

Short-Form Announcement
Unaudited Condensed Consolidated Interim Financial Results for the six months ended 28 February 2026

Salient features
- Revenue R809.2 million (2025: R760.1 million)
- Distributable earnings per ordinary share 30.55860 cents (2025: 28.44660 cents)
- Dividend per ordinary share 27.50274 cents (2025: 25.60194 cents)
- Basic earnings per ordinary share 28.37 cents (2025: 27.57 cents)
- Headline earnings per ordinary share 29.09 cents (2025: 27.51 cents)
- NAV per ordinary share R7.31 (2025: R7.01)
- Net profit before finance costs R441.6 million (2025: R424.0 million)
- Attributable comprehensive income R285.7 million (2025: R251.0 million)

Business overview
Dipula is an internally managed, South Africa focused Real Estate Investment Trust ("REIT") that owns a portfolio
of retail, office, industrial and residential property assets throughout South Africa, with the majority of the 
portfolio located in Gauteng. Dipula's strategy is to own a defensive portfolio with a bias towards convenience, 
rural and township retail centres. The portfolio has yielded a solid performance since listing. The Company 
focuses on specific market segments and continuously repositions the portfolio to adapt to changing market 
conditions.

Payment of dividend
The board has approved, and notice is hereby given of the interim gross dividend (dividend number 28) for the
period 1 September 2025 to 28 February 2026 of 27.50274 cents per ordinary share.

Dipula shareholders will be offered an election, in respect of all or part of their shareholding, to re-invest 
the cash dividend of 27.50274 cents per ordinary share in return for new shares (the "re-investment option"). 
By electing to participate in this re-investment option, shareholders will be able to increase their 
shareholding in Dipula without incurring dealing costs. In turn, Dipula will benefit from an increase in 
the amount of shareholders' funds available to support continued growth.

Further details regarding the re-investment option, including the salient dates and times and the action to be
taken by shareholders wishing to participate in the re-investment option, will be set out in a circular to
shareholders to be issued in due course once all regulatory approvals are received.

Short-form announcement
The contents of this short-form announcement are the responsibility of the board of directors of Dipula. The
information above is extracted from the unaudited condensed consolidated interim results for the six months
ended 28 February 2026 and does not contain full or complete details of the financial results. Any investment
decisions made by investors should be based on consideration of the full announcement which is available for
viewing on the Company's website at:
http://dipula.co.za/wp-content/uploads/2026/05/interim-results-feb-2026.pdf
and on the JSE's website at:
https://senspdf.jse.co.za/documents/2026/JSE/ISSE/DPL/HY2026.pdf

Johannesburg

13 May 2026

Directors
ZJ Matlala* (Chairperson)
IS Petersen (CEO)
S Moodley (FD)
Z Adams*
BH Azizollahoff*#
N Khoele*
K Teeroovengadum*^
* Independent non-executive
# British
^ Mauritian

Registered office
12th Floor, Firestation Rosebank, 16 Baker Street Rosebank, 2196

Transfer secretaries
JSE Investor Services

JSE sponsor
Java Capital

Company secretary
Acorim

Independent auditors
Forvis Mazars Gauteng






Date: 13-05-2026 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.