DELTA PROPERTY FUND LIMITED - Proposed disposal of Hatfield Forum East and update on successful transfer of In2Fruit and 88 Field Street

Proposed disposal of Hatfield Forum East and update on successful transfer of In2Fruit and 88 Field Street

DELTA PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/005129/06)
JSE share code: DLT
ISIN: ZAE000194049
(Approved as a REIT by the JSE)
("Delta" or the "Company")


PROPOSED DISPOSAL OF HATFIELD FORUM EAST AND UPDATE ON SUCCESSFUL TRANSFER OF IN2FRUIT AND 88 FIELD STREET


A.    PROPOSED DISPOSAL OF HATFIELD FORUM EAST

1.    Introduction

      Delta shareholders are hereby advised that the Company (the "Seller") has entered into a sale of letting enterprise agreement
      (the "Agreement") with NXTGEN Student Housing Proprietary Limited (the "Purchaser"), to dispose of the property
      situated at 1077 Arcadia Street, Hatfield, Pretoria, Gauteng, including immovable assets, known as "Hatfield Forum East"
      (the "Property"), for a cash consideration of R35.0 million (the "Disposal Consideration") (the "Disposal").

2.    Rationale and use of proceeds

      As part of the Company's business and portfolio optimisation strategy, it was decided to dispose of assets which are no longer
      strategic to the Company and are deemed to be "non-core". In keeping with this strategy, the Company has taken a decision
      to dispose of the Property given its "non-core" status. The net proceeds from the Disposal will be utilised by the Company
      to reduce its debt balance.

3.    Terms and conditions of the Disposal

      3.1    Purchaser

             The ultimate beneficial owner of the Purchaser is Jaco Pienaar. The Purchaser is not a 'related party' as defined in the
             Listings Requirements of the JSE Limited ("JSE").

      3.2    Effective date

             The Disposal will become effective on the date on which the registration of transfer of the Property into the name of
             the Purchaser is effected (the "Transfer Date").

      3.3    Disposal Consideration

             The Disposal Consideration is R35.0 million exclusive of VAT, payable in cash, as follows:

             -    A non-refundable deposit of R1.0 million upon signature of the Agreement (which has already been paid), and

             -    The balance of R34.0 million secured by way of guarantees, acceptable to the Seller, which guarantees shall be
                  expressed as payable on the Transfer Date. The guarantees are to be delivered within 90 business days from the
                  date of signature of the Agreement (the "Signature Date").

      3.4    Conditions precedent

             The Disposal is subject to fulfilment of the following condition precedent:

             -    within 120 calendar days of the Signature Date, the Seller has complied with the JSE Listings Requirements
                  (insofar as this may be applicable) and obtained such consents and approvals as may be required.

      3.5    Representations and warranties

             The Agreement contains representations and warranties by the parties in favour of one another which are standard for
             transactions of this nature.

4.    Financial and property-related information in respect of the Property

                                             Hatfield Forum East
      Location                               Pretoria
      Gross lettable area:                   6 390m2
      Weighted average rental (1):           R88.01/m2
      Net operating income (1):              R6.9 million
      Vacancy rate (1):                      39%
      Sector:                                Office - Sovereign
      Valuation (2)                          R45.9 million

      Notes:
      1.     The weighted average rental, net operating income and vacancy rate in respect of the Property have been extracted
             from the Company's audited results for the year ended 28 February 2026, which were prepared in terms of
             International Financial Reporting Standards.

      2.     The valuation of the property was performed as at 28 February 2026 by Hendrik Fouche, (of Knight Frank
             Valuations), who is independent from the Company and registered as a professional valuer in terms of the Property
             Valuers Profession Act, No. 47 of 2000.

      3.     The financial information contained in this announcement is the responsibility of the Board of Directors of Delta and
             has not been reviewed and reported on by Delta's auditors.

5.    Categorisation

      The Disposal is classified as a category 2 transaction in terms of the JSE Listings Requirements. Accordingly, the Disposal
      is not subject to shareholder approval.

B.    VOLUNTARY ANNOUNCEMENT REGARDING THE SUCCESSFUL TRANSFER OF IN2FRUIT AND 88 FIELD STREET

      Delta shareholders are further advised that the Company has now successfully concluded the disposal and transfer of Erf 1281
      Ekurhuleni ("In2Fruit") to Middle Road Property Proprietary Limited (as previously announced on 28 October 2024) and
      Erf 11784 Durban ("88 Field Street") to Jordisys Proprietary Limited (as previously announced on 11 April 2025).

      The net proceeds of the disposals of In2Fruit and 88 Field Street have been utilised to settle outstanding debt in respect of
      those properties.


Johannesburg
21 July 2026


Sponsor
Java Capital

Date: 21-07-2026 12:45:00
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