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SENS announcement

Trading statement

Published: 13 May 2021
Trading statement

(Incorporated in the Republic of South Africa)
(Registration number 1999/018591/06)
JSE share code: RDF ISIN: ZAE000190252
Debt company code: BIRDF
LEI: 37890061EC026A7DA532
(Approved as a REIT by the JSE)
(“Redefine” or the “Company”)


Shareholders and noteholders are referred to the Company’s pre-close investor presentation for the
half year ending 28 February 2021 (the “interim period”) published on 22 February 2021, wherein
it was advised that the board of directors (the “Board”) decision regarding the dividend for the interim
period would be informed by liquidity and trading considerations with due regard to the best interests
of all stakeholders at the time of making such decision.

The Company’s operational performance during the period continued to be impacted by the various
COVID-19 lockdown levels and restrictions as well as a decrease in revenue due to the
deconsolidation of European Logistics Investment B.V. during the second half of 2020 and the sale
of the Leicester Street student accommodation property in Australia and other non-core local
properties during the interim period.

Shareholders and noteholders are accordingly advised that Redefine’s distributable income per
share (“DIPS”) for the interim period is 26.18 cents per share which is a 21.8% decrease when
compared to the DIPS for the six months ended 29 February 2020 of 33.46 cents per share.

The Board’s decision as to whether to declare a dividend for the interim period or defer the decision
of the declaration of the dividend until the publication of Redefine’s results for the financial year
ended 31 August 2021 will be determined at the upcoming Board meeting to review the financial
results for the interim period. The outcome of this decision will be communicated following
conclusion of the Board meeting.

The financial information contained in this trading statement has not been reviewed or reported on
by Redefine’s auditors.

Redefine’s results for the interim period will be published on 17 May 2021.

13 May 2021

Java Capital

Date: 13-05-2021 10:52:00
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