Resilient REIT Ratios and Metrics

Market cap in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	26,420	26,690	19,626	14,808	17,840	21,568
Market Cap Growth	36.36%	35.99%	32.54%	-16.99%	-17.29%	14.57%
Enterprise Value	41,068	40,770	33,613	27,743	27,727	30,707
Last Close Price	79.19	80.00	54.34	37.58	41.52	39.63
PE Ratio	5.81	5.84	6.82	4.20	4.71	5.70
PS Ratio	5.61	5.67	5.16	2.59	4.01	5.89
PB Ratio	1.00	1.01	0.84	0.68	0.90	1.07
P/OCF Ratio	17.99	18.17	17.08	13.20	12.12	14.37
EV/Sales Ratio	8.72	8.66	8.83	4.86	6.23	8.38
EV/EBITDA Ratio	13.08	12.98	14.69	6.40	9.01	13.15
EV/EBIT Ratio	13.18	13.09	14.88	6.44	9.07	13.30
Debt / Equity Ratio	0.54	0.54	0.59	0.61	0.65	0.50
Debt / EBITDA Ratio	4.54	4.54	6.07	3.07	4.15	4.33
Net Debt / Equity Ratio	0.54	0.54	0.59	0.61	0.64	0.49
Net Debt / EBITDA Ratio	4.53	4.53	6.05	3.05	4.12	4.29
Asset Turnover	0.12	0.12	0.10	0.17	0.14	-
Quick Ratio	0.06	0.06	0.06	0.05	0.07	0.05
Current Ratio	0.12	0.12	0.08	0.06	0.09	0.32
Return on Equity (ROE)	19.05%	19.05%	13.19%	18.51%	19.58%	-
Return on Assets (ROA)	4.90%	4.90%	3.83%	7.81%	5.82%	-
Return on Invested Capital (ROIC)	7.97%	7.99%	6.13%	12.73%	9.72%	7.85%
Earnings Yield	17.30%	17.13%	14.67%	23.83%	21.24%	17.55%
Dividend Yield	6.19%	6.13%	8.10%	10.81%	10.55%	-
Payout Ratio	34.28%	34.28%	49.14%	38.84%	42.80%	44.59%
Buyback Yield / Dilution	0.08%	0.07%	0.54%	4.08%	2.90%	-0.13%
Total Shareholder Return	6.29%	6.20%	8.64%	14.89%	13.46%	-0.13%

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.