Fairvest (FTA) Pre-close call presentation summary

Portfolio overview

• Portfolio valued at R12.3 billion with 127 assets and a market cap of R9.2 billion as of February 2025.

• Sectoral revenue split: 69.8% retail, 18.4% office, 11.8% industrial.

• Gross lettable area totals 1,033,891m², with vacancies rising to 5.9%.

• Tenant retention at 80.6% and positive rental reversion of 4.2%.

• Weighted average lease expiry (WALE) is 30.7 months, with new deals at 49.9 months.

Retail portfolio

• Comprises 72 properties with a GLA of 547,324m² and a 5.1% vacancy rate.

• Tenant retention is strong at 86.4%, with a positive rental reversion of 2.5%.

• Average gross rental per m² is R168.85, with built-in escalations at 6.5%.

• WALE stands at 32.5 months.

Office portfolio

• Consists of 29 properties totaling 214,595m², with vacancies increasing to 14.8%.

• Tenant retention is 67.6%, and rental reversion improved to 7.0%.

• Average gross rental per m² is R127.79, with escalations at 6.9%.

• WALE is 28.3 months.