EQUI - Financial Covenant Compliance
EQUITES PROPERTY FUND LIMITED
(Registration no 2013/080877/06)
Incorporated in the Republic of South Africa
JSE alpha code: EQUI
(the "Issuer")
FINANCIAL COVENANT COMPLIANCE
Bondholders are advised that in accordance with the requirements of the Equites Property Fund
Limited R10 billion Domestic Medium Term Note Programme Memorandum dated 30 August 2021,
the Issuer confirms that:
• in terms of the Loan to Value ("LTV") Covenant, Total Borrowings did not exceed 50% (fifty
percent) of the Total Assets;
• in terms of the Interest Cover Covenant, Interest Cover remained at a level of at least 2.0
times cover at all times;
• The Issuer hereby confirms that the LTV financial covenant was tested at 28 February 2026
and has been successfully complied with, and
• there has been no breach of Financial Covenants during the year ended 28 February 2026.
24 April 2026
Debt Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 24-04-2026 12:15:00
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