A diversified portfolio

40% retail sector revenue

43% office sector revenue

5% industrial sector revenue

New Developments

Tower Property Fund Results

Portfolio

value

R5.2bn

Loan to

Value

34.1%

Vacancies

reduced to

6.6%

Net asset value

per share

R9.79

Revenue

[Sectoral]

40% | Retail by Revenue

43% | Office by Revenue

12% | Inventory by Revenue

5% | Industrial by Revenue

Revenue

[Geographic]

31% | Gauteng by Revenue

24% | Croatia by Revenue

37% | Western Cape by Revenue

8% | KZN by Revenue

Asset Value

[Sectoral]

46% | Retail by Asset Value

47% | Office by Asset Value

1% | Inventory by Asset Value

6% | Industrial by Asset Value

Asset Value

[Geographic]

30% | Gauteng by Asset Value

32% | Croatia by Asset Value

31% | Western Cape by Revenue

7% | KZN by Revenue

Listed Property Fund

Tower owns a diversified portfolio of high quality office and retail properties based predominantly in Gauteng and the Western Cape, Zagreb in Croatia and with some exposure in KwaZulu-Natal. Flagship properties include Cape Quarter, a landmark retail and office property in Cape Town and Upper Grayston Drive Office Park, a green star rated office park in Sandton.