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HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000190724
JSE bond issuer code: HYPI
(Approved as a REIT by the JSE)
("Hyprop" or "the Company")
OPERATIONAL TRADING UPDATE ' SIX MONTHS ENDED 31 DECEMBER 2025
Following the publication of Hyprop's preclose operational update for the four months ended 31 October 2025 on 1 December 2025,
the Company is pleased to provide a further operational update, including November and December 2025.
INTRODUCTION
Hyprop is a retail-focused REIT with a proven track record of delivering value from its portfolios in South Africa (SA) and Eastern
Europe (EE). We create spaces that connect people by owning, managing and redeveloping retail centres in high-growth, mixed-
use precincts strategically located in key economic nodes.
Hyprop is well-positioned to capitalise on future growth opportunities through a disciplined diversification strategy. We leverage
our experienced teams and the quality and resilience of our portfolios to drive superior, risk-adjusted total returns. Our proactive
approach focuses on expanding our presence in preferred regions, such as the Western Cape and EE, while strategically optimising
our Gauteng assets to maximise sustainable, long-term value for stakeholders.
TRADING FOR THE SIX MONTHS ENDED 31 DECEMBER 2025
Hyprop's SA and EE portfolios delivered above-inflation growth in both tenants' turnover and trading density during the six months
ended 31 December 2025.
South Africa (SA) portfolio
Key trading metrics for the SA portfolio, including tenants' turnover, trading density and vehicle count, continue to show steady
growth. This highlights the appeal of our retail centres, which are supported by a resilient LSM shopper base.
November demonstrated strong growth as shopping trends continue to evolve, with consumers increasingly favouring November
purchases due to value-driven Black Friday deals that pull spend forward. Notwithstanding the strong performance in November,
growth in tenants' turnover and trading density in December was pleasing.
SA portfolio key trading metrics for the period:
Total for
Trading metric Year Jul Aug Sep Oct Nov Dec 6-month
period
Tenants' turnover 2024 2 131 537 2 160 345 2 089 937 2 138 312 2 616 244 3 622 504 14 758 881
(R'000) 2025 2 286 364 2 283 375 2 141 738 2 261 998 2 763 939 3 766 045 15 503 458
Variance % 2025 vs 2024 7.3% 5.7% 2.5% 5.8% 5.6% 4.0% 5.0%
Trading density 2024 3 344 3 386 3 287 3 386 4 147 5 732 3 878
(R/m2/month) 2025 3 699 3 709 3 477 3 669 4 431 5 994 4 169
Variance % 2025 vs 2024 10.6% 9.5% 5.8% 8.4% 6.9% 4.6% 7.5%
Foot count ('000) 2024 6 977 7 035 6 858 6 931 7 599 9 544 44 945
2025 7 332 7 136 6 678 7 170 7 873 9 622 45 811
Variance % 2025 vs 2024 5.1% 1.4% -2.6% 3.5% 3.6% 0.8% 1.9%
Vehicle count 2024 1 790 1 783 1 716 1 748 1 897 2 320 11 255
('000) 2025 1 854 1 836 1 715 1 836 1 982 2 385 11 607
Variance % 2025 vs 2024 3.5% 3.0% -0.1% 5.0% 4.5% 2.8% 3.1%
Historic statistics updated for the most recent available information.
EASTERN EUROPE (EE) PORTFOLIO
Our EE centres continued to grow steadily between July and December 2025, particularly tenants' turnover and trading density,
both of which improved compared to the average for the four months ended 31 October 2025. This momentum emanates from our
shopping centres' prime locations and the strong tenant and shopper demand.
EE portfolio key trading metrics for the period:
Total for
Trading metric Year Jul Aug Sep Oct Nov Dec 6-month
period
Tenants' turnover 2024 50 159 45 751 54 190 53 653 58 755 74 452 336 961
(EUR'000) 2025 51 178 46 444 54 548 57 719 61 679 78 090 349 658
Variance % 2025 vs 2024 2.0% 1.5% 0.7% 7.6% 5.0% 4.9% 3.8%
Trading density 2024 298 271 321 318 349 443 333
(EUR/m2/month) 2025 305 275 323 342 365 461 345
Variance % 2025 vs 2024 2.3% 1.4% 0.7% 7.5% 4.6% 4.1% 3.6%
Foot count ('000) 2024 2 222 2 140 2 304 2 325 2 401 2 720 14 111
2025 2 163 2 023 2 177 2 307 2 319 2 695 13 685
Variance % 2025 vs 2024 -2.7% -5.4% -5.5% -0.8% -3.4% -0.9% -3.0%
Vehicle count 2024 366 362 367 398 393 405 2 291
('000) 2025 355 337 347 399 397 423 2 257
Variance % 2025 vs 2024 -3.0% -7.1% -5.5% 0.3% 0.9% 4.5% -1.5%
Historic statistics updated for the most recent available information.
The financial information contained in this SENS announcement has not been reviewed and reported on by the group's auditors.
Hyprop's interim results for the six months ended 31 December 2025 are scheduled to be released on 10 March 2026.
3 February 2026
Sponsor
Java Capital
Date: 03-02-2026 02:15:00
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