Announcement • Jul 25
Vukile Property Fund Limited Announces Board and Committee Changes, Effective September 2, 2026 Vukile Property Fund Limited announced that, as part of the board’s ongoing refresh and succession planning process, Dr Renosi Mokate would step down as Lead Independent Director and as a member of the audit and risk committee with effect from the Company’s next annual general meeting, to be held on September 2, 2026. Dr Mokate would continue to serve as chairperson of the environmental, social and ethics committee, a member of the remuneration and human capital committee and a member of the board. Mr. James Formby would be appointed as Lead Independent Director and retain his current committee memberships, being chairperson of the remuneration and human capital committee and a member of the audit and risk committee. The audit and risk committee would comprise Mrs. Neo Dongwana as chairperson, with Mrs. Tshidi Mokgabudi and Mr. James Formby as committee members. The board again considered and concluded, in line with the findings of the most recent independent board evaluation, that all members of the audit and risk committee, including Mr. James Formby (in his new capacity as LID), and all members of the board retiring at the upcoming AGM (being Mr. Nigel Payne, Mr. Jon Zehner and Ms. Tshidi Mokgabudi), were independent. Upcoming Dividend • Jul 04
Upcoming dividend of R0.84 per share Eligible shareholders must have bought the stock before 08 July 2026. Payment date: 13 July 2026. Trailing yield: 5.8%. Lower than top quartile of South African dividend payers (7.6%). In line with average of industry peers (6.2%). Reported Earnings • Jun 20
Full year 2026 earnings released: EPS: R4.42 (vs R2.71 in FY 2025) Full year 2026 results: EPS: R4.42 (up from R2.71 in FY 2025). Revenue: R5.82b (up 24% from FY 2025). Net income: R5.74b (up 79% from FY 2025). Profit margin: 99% (up from 68% in FY 2025). Revenue is forecast to stay flat during the next 2 years compared to a 1.4% decline forecast for the Retail REITs industry in South Africa. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.