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Business Profile 2017

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Emerging African Property Holdings (EAP) is a fully fledged black women owned property Investment Company focusing on the listed and unlisted property sector. It has a strong balance sheet and is led by individuals with a proven business track record. The company is a Broad Based Black women owned business, with 52% black women shareholding. The company has business expertise, skills and experience predominantly in the South African commercial property environment and has grown its assets in REIT’s (real estate investment trusts) over the past 10 years.

Executive Summary

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EAP is the company which stemmed from Money Box Investments 86, which has its origins as a 25% shareholder in Eagle Eye Investments. Eagle Eye Investments was the BBBEE (Broad based black economic empowerment) partner to Resilient.

There were four shareholders in Eagle’s Eye Investments, which included a women’s grouping from Limpopo province and one from the Eastern Cape. The fourth shareholder was Siyakha Trust, a non-profit organisation that supports education and the building of schools in disadvantaged communities. The transaction was governed by a 10-year relationship agreement which expired in June 2016 and all outstanding indebtedness in respect of loan facilities have been settled.

Background

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A group of like-minded predominantly black women have remained as shareholders who intend to expand the activities of the company and grow it into a substantial investor in the property sector. We believe the expertise of the individual shareholders in the South African property industry can be successfully leveraged to the benefit of not only EAP, but more specifically the companies within which we invest. We believe we can make a meaningful contribution at all stages of the investment process, bringing our accumulated knowledge, network, insights and experience to create mutual value.

Strategic Vision

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Mzamo Vilakazi – Executive Director

Lynette Finlay– Executive Director

Nonkululeko Nyembezi–Heita – Non Executive

Kgaogelo Mamabola – Non Executive

Maurice Mdlolo – Non Executive

The Board of Directors

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EAP primarily invests in listed Shares on the JSE, with the majority of our share portfolio currently consisting of our investment in Resilient Property Income Fund. Our strategy is to continue to invest in listed and soon to be listed property shares with good capital growth assets in South Africa and Internationally.

Investment Profile

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Nonkululeko Nyembezi-Heita Mzamo Vilakazi Maurice Mdlolo Lynette Finlay Tshiamo Vilakazi Kgaogelo Mamabolo Mathilda Gasela Danisa Baloyi

Shareholders

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The company is well placed to participate in the sphere of opportunities that seek to promote South Africa’s broad transformational agenda with a specific focus on black women. Our focus is property shares in both listed and unlisted sectors, and will not include direct property investments. The focus is on shares that exhibit a strong capital growth trajectory and sufficient yield to cover the debt funding. As individual shareholders, we share a common belief in the power of investing for the long-term based on a set of shared values. Accordingly, EAP is looking to have long-term stable positions.

Strategic Intent

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The Company is predominantly invested in Resilient. The focus is on the opportunities presented to a black women organization and the leverage they can contribute to the transaction. The nature of Investments are conservative and need to focus on areas where the Directors have skills and expertise in knowing and understanding the investment. Given the current economic environment, the use of debt will be on a conservative basis with limited recourse to the Company and Shareholders

Investments

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Mzamo Vilakazi

Mzamo Vilakazi is a property executive with close on 20 years experience. Chairman of EAP, previously Moneybox 86 Investments (Pty) Ltd. His former positions include Executive of Rebserve Ltd; Executive of Atterbury Property Group; Chief Executive Officer of Attcorn Developments ( 50% - 50% Joint venture with Atterbury); Director of Attfund’s former BEE partner; Chairman of Eagles Eye Investments (Pty) Ltd.

Mr Vilakazi has a certificate in International Relations from Canada, a Social Science Degree from UCT Cape Town. Certification in Business Project Management from Wits Graduate School of Bu siness. Currently busy with a Masters in Business Administration from Wits Graduate School of Business.

Board Profile

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Lynette Finlay CA (SA) Lynette Finlay, Non Executive Director of Growthpoint, the largest listed property company in South Africa, Chairman of the Audit Committee and member of the Social Ethics and Transformation Committee. Director of Finlay, a specialist retail leasing company, specialising in Rural shopping centres. Previously CEO of Finlay and Associates, a Property Management company for 32 years, which inter alia managed a commercial portfolio in excess of R7bn, developed the Hyatt Hotel in Johannesburg and several office blocks and shopping centres countrywide. The Company was sold to Broll Property Group in 2015. Ms Finlay has also owned and ran several businesses including a restaurant, events company (specializing in business related events and raising money and awareness for orphaned children), an International Children’s clothing franchise and a security, cleaning and garden services business. Ms Finlay was the first women president of SAPOA (South African Property Owners Association), a founder of the Women’s Property Network, a Board Member of the Property Services SETA, Chairman of the Rosebank Management District, Executive Vice Chair in drafting the Property Charter. Co-founder of Nurturing Orphans of Aids for Humanity (Noah) which cared for over 100 000 orphaned children. Ms Finlay won the Inyathelo award for women in philanthropy. Received a merit award for most influential women in business and Government. Winner of the first “5 Star Women Award” given to women in the property industry.

Board Profile

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Nonkululeko Nyembezi-Heita Ms Nyembezi-Heita has served as an independent non-executive director on numerous boards in both the public and private sectors. She currently serves as non-executive chairman of the JSE and non-executive member of the board of Old Mutual plc and Macsteel Global S.a.r.l. Nonkululeko Nyembezi-Heita is the Chief Executive Officer of Ichor Coal N.V., an international mineral resources company focusing on coal mining in South Africa. Ms Nyembezi-Heita was previously Chief Executive Officer of ArcelorMittal South Africa, the largest steel producer on the African continent and subsidiary of the ArcelorMittal Group, which in turn is the largest steel producer in the world. Prior to that, she served as the Chief Officer of Mergers & Acquisitions for the Vodacom Group and before that, Chief Executive Officer of Alliance Capital, then local subsidiary of a New York based global investment management company. Ms Nyembezi-Heita has a B.Sc. Honours degree in electrical engineering from the University of Manchester Institute of Science & Technology and a masters degree in the same discipline from California Institute of Technology. She also has an MBA from the Open University (UK).

Board Profile

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Kgaogelo Mamabolo

Kgaogelo Mamabolo has 16 years experience in the Property industry and was previously Asset Manager for STANLIB Direct Property for the STANLIB Africa Direct Property Development Fund and the Liberty Group property portfolio incorporating retail, hotel and office properties inclusive of prime properties such as Sandton City and Nelson Mandela Square. She was Head of Unlisted Properties at Liberty Properties including also other Liberty owned shopping centres, prior to the Asset Management arm of Liberty Properties moving to STANLIB. She previously headed up the Research department at the Investment Property Databank (SA) and was Property economist and Senior researcher at Viruly Consulting, were she also undertook advisory services and development feasibilities for Private and Public property organisations.

Ms Mamabolo’s involvement in the property industry extends to her being Past President of the South African Institute of Black Property Practitioners and Past National Councilor for the South African Property Owner’s Association and the South African Council of Shopping Centres. She is also ex member of the International Council of Shopping Centre’s Sub-Saharan Africa Advisory Board and ex Board Member of the Property Charter Council and current Research committee member. She has also chaired the Board of the Braamfontein Improvement District. Kgaogelo was in 2013 seconded to the National Department of Public Works’ to assist with their Business Case for the Implementation of the Property Management Trading Entity, this whilst also undertaking her role at STANLIB.

Ms Mamabolo has a Bsc Honours in Town and Regional Planning from the University of Witwatersrand and has a Senior Management Development Program Certificate from the University of Stellenbosch Business School.

Board Profile

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Maurice Mdlolo Maurice Mdlolo holds a degree in Business management and Economics from the University of South Africa and various management courses from the University of Stellenbosch Business School. Maurice Mdlolo has over 20 years of experience in property developments, property investment, management, leasing, acquisitions, disposals and project management. Maurice served as Managing Director of Liberty Properties. Former Chief Executive Officer of Akhona Broll Properties and Motseng Marriot Property Services. He also served as a Non Executive Director of South African Council of Shopping Centres and Synergy Income Fund Limited.

Board Profile

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Danisa Baloyi

Danisa Baloyi is Executive Director of the National Black Business Caucus and is a business development specialist and strategist, as well as the President of the International Women’s Forum of South Africa (IWFSA). Ms Baloyi has previously served on the following boards as Chairperson: the Gauteng Tender Board and Gauteng Enterprise Propeller (companies she helped establish and chaired) and the National Skills Authority (NSA), Business Council (BBC). As Deputy Chairperson, she served on the boards of the Southern Africa Enterprise Development Fund (a US Fund), Denel (which she also chaired), South African Tourism, the Institute of Directors of South Africa (IOD) and a host of many BEE companies. As Board member for Absa Bank, The Don Hotels, Set Point Technologies, Enterprise Risk Management and African Merchant Bank (AMB), Industrial Development Corporation (IDC), the South African Football Association (SAFA) Investment Company, UBAMBO (the BEE company within Cell C), Metrofile and many Denel subsidiaries, such as Denel Informatics, Denel Aviation. She is a founding member of the NEPAD Business Subcommittee and the King Report on Corporate Governance Sub-Committee. She served on the International Council for Entrepreneurship and Small Business (ICSB) for many years, representing Southern Africa. She was also part of the US/SA Bi-National and served on the Business subcommittee for many years. She is a founder member of the then Black Business Council (BBC), the Black Business Executive Circle (BBEC), the National Black Business Caucus (NBBC), Business Unity South Africa (BUSA), Chambers of Business in South Africa (CHAMSA), the Southern Africa Entrepreneurship and Small Business Association (SAEBSA), the International Women’s Forum of South Africa (IWFSA) and the United Way Johannesburg, just to name a few.

Shareholders Profile

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Danisa Baloyi continued …

Ms Baloyi is a founder member of Mercury Media, a Black Economic Empowerment (BEE) media group, and is part of Red Cherry, a media production house, Candograph Investments Resources International (CIRI), a group that promotes business across nations and is involved in energy, biofuels, property development and aviation amongst others. She was one of the Commissioners for the Black Economic Empowerment (BEE) Commission. She was also a part of the Presidential Working Groups for Business, Women and Black Business for many years. She founded her own businesses DB Consulting International, Sensas Communications (for Strategic Communications and Events) and South African Woman Investment Holdings (SAWIH), a woman’s group that has invested strategically in various fields. She has in recent years resolved to venture into deals internationally and cross-border, particularly on the African continent. Ms Baloyi lives and practices as a Management Consultant and promotes the development of The Arts as the Chairperson of the National Jazz Foundation of SA, and is Deputy Chair of The Special Olympics of SA.

Shareholders Profile

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Matilda Gasela

Matilda Gasela is Head of Department of economics, small business, tourism and environmental affairs (DESTEA) in the Free State. Previous positions include the Chief Executive Officer of Free State Gambling and Liquor Authority; Head of Department of Social Development; Accounting Officer at Department of Public Works and Infrastructure; The Chief of Staff for the National Department of Human Settlements; Chief Operations officer of the Gauteng Liquor Agency and Economic Development. Executive Director: Corporate Affairs at the Broll Property Group. Under her leadership she managed to assist in transforming the company to a level 2 BEE Contributor. She was the Deputy Chairperson of the Gauteng Gambling Board ; Chief of Staff/Personal Assistant to the Premier (Gauteng Provincial Government), Head of Government Relations at ABSA, the Personal Assistant to the Chairman and CEO of Mawenzi Resources (PTY) Ltd. Ms. Gasela served as a Director/Coordinator at the Alexandra Arts Centre and the Field Interviewer for the Institute of Political Violence and Health Resources Project at Wits University. Ms Gasella was a Committee Member of adoption and Foster Care at the Tembisa Child Welfare Society. She headed up the Department of Arts and Culture of the ANC, where she was appointed as Research Coordinator for Arts and Culture, South Africa for the ANC. Ms Gasella has a Bachelor of Arts (majoring in Sociology, Industrial Psychology and Anthropology) from Fort Hare University. She attended a course in Basic Economics from Wharton Business School, Philadelphia in the USA.

Shareholders Profile

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Tshiamo Daphne Vilakazi Tshiamo was appointed as Independent non-executive director for Fortress Income Fund in December 2015. She has her BA(SW), LLB and Certificate in Mining Prospecting (SA) Tshiamo is a practising attorney, conveyancer and notary public. She is a legal consultant to Gauteng Provincial Government and Department of Housing. She is also a member of the Housing Advisory Panel of North West Provincial Government, Department of Housing and has been in practice for 20 years.

Shareholders Profile

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Auditors: Du Plessis & Du Plessis Ouditeure/Auditors

Tel : 012 644 0737/644 1580/644 0728/644 0725

Fax : 012 644 0736 Privaat Faks/Private Fax : 086 683 6033 E-Pos/E-Mail : bert@dupdup.co.za

Address: 360 Rivonia Boulevard Rivonia 2128 Johannesburg

Registration number: 2006/012646/07

Bankers: Nedbank

Company information