Southern Sun (SSU) Investor presentation summary

Lessons learned from COVID-19

• Restructured cost base and operations, especially central costs, to improve efficiency.

• Removed dual listing and REIT structure, simplifying the business.

• Sold non-core assets to reduce debt and improve free cash flow.

• Achieved higher occupancy and significant growth in AHEPS and net cash position by FY26.

Portfolio and market position

• Owns a large, irreplaceable portfolio of 78 hotels and resorts with 16,942 rooms across Africa and the UAE.

• Strong local brands across all market tiers and a major presence in the conference and exhibition market.

• Holds some of the most profitable hotels for international operators in South Africa.

• Preferred accommodation partner for leading sports teams and a Level 1 B-BBEE contributor.

Financial performance and cash flow

• Achieved record profits at 62.9% occupancy in FY26, with expectations for further growth if local conditions improve.

• Five-year cash flow shows strong operational cash generation, significant debt reduction, and consistent free cash flow.

• Maintained strong balance sheet and high operational gearing.