Resilient REIT : BIRPIF - Availability of the Annual Financial Statements of the Guarantor

Resilient REIT Limited

Incorporated in the Republic of South Africa Registration number: 2002/016851/06

Bond company code: BIRPIF

LEI: 378900F37FF47D486C58

(Approved as a REIT by the JSE)

("Resilient" or "the Issuer")

AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS OF THE GUARANTOR

Noteholders are advised that the annual financial statements of Resilient Properties Proprietary Limited, the Guarantor to the Resilient's ZAR10 000 000 000 Domestic Medium Term Note

Programme (the "Guarantor"), for the six-month period ended 31 December 2021 (the "Financial

Statements") are available for inspection at the Issuer's registered office.

Noteholders are also advised that the audit report on the Financial Statements of the Guarantor is unqualified, with no modifications applicable.

Noteholders are further advised that the Guarantor's comparative financial information for the year ended 30 June 2021, included in the Financial Statements, has been restated for the following prior period errors:

• 1. The reclassification of loans to Group companies from current assets to non-current assets as these loans do not have terms of repayment and there is no intention to call for the repayment of these loans in the next 12 months.

• 2. The separate disclosure of cash inflows and cash outflows relating to interest-bearing borrowings, loans to Group companies and loans from Group companies in the statement of cash flows in line with the requirements of IAS 7: Statement of Cash Flows.

• 3. The disaggregation of investments in the statement of financial position between listed investments measured at fair value and unlisted investments measured at historical cost less accumulated impairment losses to comply with the requirements of IAS 1: Presentation of Financial Statements in that items of a dissimilar nature should be separately presented.

• 4. The impairment of an unlisted investment in a wholly-owned subsidiary due to a devaluation in the underlying assets of the subsidiary. An impairment assessment prepared in the current reporting period indicated that the impairment event occurred in the prior period.

• 5. The disclosure of liquidity risk relating to interest-bearing borrowings to include interest which was erroneously excluded in the previous reporting period.

Noteholders are referred to the respective annual financial statements for further details in relation to the above-mentioned restatements.

29 April 2022

Debt Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)