Growthpoint Properties Limited · JSE:GRT
Growthpoint Properties — Shareholder Meeting (October 2026)
38 slides from Growthpoint Properties's shareholder meeting presentation, October 2026
Slide 1: Growthpoint AGM Roadshow October 2026
Growthpoint AGM Roadshow October 2026
Slide 2: Agenda
Agenda 01 Highlights 02 Introduction - remuneration 03 2025 & 2024 voting outcomes 04 Shareholder feedback 05 Alignment with shareholders 06 Implementation 07 FY27 STI Scorecard 08 FY27 LTI Scorecard 09 Benchmarking 10 Section 30B disclosures 11 FY27 focus areas 12 FY28 Policy changes 13 AGM resolut
Slide 3: Highlights – business
Highlights – business 01 Results outperformance » FY26 DIPS growth guidance of 2% to 5% » Delivered 4.3% DIPS growth » Driven by a strong performance from the SA business and superior performance from the V&A as well as reduced interest expense » Increased the payout ratio to 87.5% (FY25: 85.0%) due
Slide 4: Highlights – remuneration
Highlights – remuneration 01 Remuneration Highlights » Demonstrable progress embedding ESG metrics into the LTI scorecard » Enhanced disclosure of strategic / personal measures » Achieved leadership succession milestones » Advanced Board succession implementation » Introduction of an international R
Slide 5: Introduction – remuneration
Introduction – remuneration 02 » The FY26 remuneration policy was implemented in line with shareholders’ approval » There have been no deviations from the policy » We have considered shareholder feedback and input from our remuneration advisors (Bowmans) and independent advisors (Vasdex) and have ma
Slide 6: 2025 & 2024 voting outcomes
2025 & 2024 voting outcomes 03 Remuneration Policy Implementation Report 2025 AGM results 2025 AGM results 88.0% 87.5% 2024 AGM results 2024 AGM results 92.2% 86.9% 5 Murray Rose Avenue, Sydney, NSW 6
Slide 7: Shareholder feedback
Shareholder feedback 04 Investor feedback received Our response » The committee continues to recalibrate the STI and LTI scorecards to strengthen alignment with shareholder expectations and the Group’s Shareholders were supportive of the evolution of evolving strategic priorities STI and LTI scoreca
Slide 8: Shareholder feedback
Shareholder feedback 04 Investor feedback received Our response » The committee considered this feedback and undertook a review of the benchmarking framework applied to the relative performance Appropriateness of comparator group and measures benchmarking methodology » To improve market relevance an
Slide 9: Shareholder feedback
Shareholder feedback 04 Investor feedback received Our response » In response to shareholder feedback, the committee has approved an enhanced approach to the disclosure of performance targets and Requirement for greater transparency of the strategic/ personal KPIs STI strategic/ personal KPI measure
Slide 10: Alignment with shareholders
Alignment with shareholders 05 4.3% 7.4% 3.8% 10.2% increase in DIPS increase in DPS increase in NAVPS 1-year total return¹ (SA REIT NAVPS movement plus DPS) 11.8% 28.8% 38.8% 80.1% 3-year total return¹ increase in share price 1-year total 3-year total (SA REIT NAVPS movement plus DPS) (to 30 June 2
Slide 11: Alignment with shareholders – FY26 remuneration
Alignment with shareholders – FY26 remuneration 05 GOZ STI Cash STI and Total Total TFR directors’ cash LTI DSTI as remuneration remuneration % Rand FY26 fees FY26 bonus DSTI vesting¹ % of TFR FY26 FY25 change Group CEO 9 447 800 1 626 549 8 967 408 8 967 408 15 797 433 190 44 806 597 36 980 270 21.
Slide 12: Alignment with shareholders – Total remuneration
Alignment with shareholders – Total remuneration* 05 50 45 FY26 40 FY25 35 FY19 FY22 FY26 30 FY25 FY23 FY19 FY22 FY20 Rm 25 FY21 FY24 FY23 20 FY20 FY24 FY21 15 10 5 0 GROUP CEO CEO SA Total remuneration reached pre-COVID levels in FY25, with LTI outperformance driving most of the increase from FY25
Slide 13: Alignment with shareholders – FY26 Remuneration benchmarking results
Alignment with shareholders – FY26 Remuneration benchmarking results 05 Group CEO » On-target total remuneration was between the lower quartile and the median of the market capitalization comparator group » The compa-ratios were within an acceptable range for all the benchmarks including the SA REIT
Slide 14: Implementation – FY26 STI Scorecard
Implementation – FY26 STI Scorecard 06 P Income ER S UP MEASURE statement Estienne de Klerk 111.9% SO 45% NAL MEAS 85% 15% Norbert Sasse 108.1% Balance sheet 20% O GR Josè Snyders 106.3% U ESG RE 20% S V&A Waterfront, Cape Town 14
Slide 15: Implementation – FY26 STI Scorecard: Group measure
Implementation – FY26 STI Scorecard: Group measure 06 Weight Threshold Target Stretch Multiplier Weighted KPI (%) 50% 100% 150% Score (%) modifier (%) Group measure 85.00 122.72 104.31 Income statement 45.00 46.04 (1) Absolute DIPS growth (cents) 12.50 149.20 152.20 155.10 152.60 107.34 13.42 (2) Re
Slide 16: Implementation – FY26 STI Scorecard: Personal measure
Implementation – FY26 STI Scorecard: Personal measure 06 Personal measures 15% Group CEO Score CEO: SA Score Group CFO Score Leadership and succession 32.50% 39.40% 40.00% 50.00% 20.00% 20.00% Optimising our investments GWI = 15.00% V&A = 12.50% V&A = 10.00% GIP = 12.50% GIP = 5.00% GOZ = 10.00% GOZ
Slide 17: Implementation – Investec relative DIPS calculations
Implementation – 06 Investec relative DIPS calculations on a capped weighted basis Growth in DIPS Relative DIPS Last reported Capped Growth in Growth in Relative Relative Company name period Market cap Weighting Weighting DIPS FY-1 DIPS FY-0 DIPS FY-1 DIPS FY-0 Rank FY-1 FY-0 Attacq Limited 31/12/20
Slide 18: Implementation – FY26 LTI Scorecard (FY24/1 October 2023 awards)
Implementation – FY26 LTI Scorecard (FY24/1 October 2023 awards) 06 Based on a 75% participation ratio for on-target performance ES R CIAL EASU Environmantal ES G ME SURES M 85% 15% Social A N Governance A FIN Second year that the LTI vesting was changed from a 3-year vesting to a 4-year vesting, wi
Slide 19: Implementation – FY26 LTI Scorecard
Implementation – FY26 LTI Scorecard 06 FY26 LTI outcomes for the 1 October 2023 awards that vested based on FY24, FY25 and FY26’s performance Weight Threshold Target Stretch Quartile Multiplier Weighted KPI (%) 50% 100% 150% Score ranking (%) modifier (%) Total measure 100.00 133.20 Financial 85.00
Slide 20: Implementation – Investec relative TR & TSR calculations
Implementation – 06 Investec relative TR & TSR calculations on a capped weighted basis Total return Total s/holder return TR TSR Last Rank Rank reported Capped Company name period Market cap Weighting Weighting 36-month rolling 36-month rolling Rank FY-0 FY-0 Attacq Limited 31/12/2025 12 217 997 889
Slide 21: FY27 STI scorecard
FY27 STI scorecard 07 Based on a 75% participation ratio for on target performance P Income ER S UP MEASURE statement SO 45% (FY26: 45%) NAL MEAS 85% 15% (FY26: Balance sheet (FY26: 15%) 20% (FY26: 20%) 85%) O GR ESG URE 20% (FY26: 20%) S 33 Bree and 30 Waterkant, CBD, Cape Town 21
Slide 22: FY27 STI Scorecard
FY27 STI Scorecard 07 STI performance conditions Weight Threshold 50% Target 100% Stretch 150% 1) Absolute DIPS growth (cps) 20% 152.6cps FY26 DIPS + 2% : 155.65cps 158.77cps (FY26: 12.5%) (FY26: 149.2) (FY26: 152.2) (FY26: 155.1) 2) Relative DIPS Growth 20% 45% 60% 75% (FY26: 22.5%) (FY26: 40%) (FY
Slide 23: FY27 LTI Scorecard (1 October 2026 awards)
FY27 LTI Scorecard (1 October 2026 awards) 08 Based on a 75% participation ratio for on-target performance ES R CIAL EASU Environmental ES G ME SURES 20% M (FY26: Social 80% A 20%) (FY26: 80%) N Governance A FIN 4-year vesting, with 100% of the awards assessed for performance at the end of 3 years w
Slide 24: FY27 LTI Scorecard (1 October 2026 awards)
FY27 LTI Scorecard (1 October 2026 awards) 08 LTI Scorecard for awards made on 1 October 2026, 100% assessed for performance in October 2029 based on FY27, FY28 and FY29 performance with 70% vesting and 30% deferred to FY30 Threshold Target Stretch Weight 50% 100% 150% Relative TR¹ 20.0% 45th percen
Slide 25: Benchmarking – International REIT & market cap comparator group
Benchmarking – International REIT & market cap comparator group 09 » Market cap comparator group updated for the FY27–FY29 policy period » Selected using 30-day VWAPs as at 30 June 2026 » Includes the six largest comparable companies above and below Growthpoint by market capitalisation » Excludes co
Slide 26: Benchmarking – FY27 to FY29 market cap comparator group
Santam 44.0 Redefine Properties 45.1 Tiger Brands Woolworths Holdings 48.3 49.7 Momentum Group 50.4 Clicks Group 55.3 Median 57.5 Growthpoint Properties 58.4 Market cap (Rbn) Old Mutual 59.6 Aspen Pharmacare Holdings 65.2 The Bidvest Group 80.5 Benchmarking – FY27 to FY29 market cap comparator group
Slide 27: Benchmarking – FY27 to FY29 international REIT comparator group
Centuria Industrial REIT 22.3 Hyprop Investments 22.3 Fortress Real Estate Investments 29.7 Vukile Property Fund 35.2 Redefine Properties Limited 45.1 Hammerson plc 45.5 JSE Listed Growthpoint Properties Limited 58.4 Median 59.0 ASX Listed Market cap (Rbn) Dexus Industria REIT 72.4 LSE Listed Mirvac
Slide 28: Section 30B disclosures
Section 30B disclosures 10 » Growthpoint’s disclosure is aligned with its fair and responsible pay principles: responsible reward, market competitiveness, internal equity & performance alignment » The statutory disclosure covers all 736 employees, including learners & graduates whose remuneration ar
Slide 29: Section 30B disclosures
Section 30B disclosures 10 Statutory View FY26 Supplementary View FY26 All employees (R) Permanent employees – in employ for a full 12-months¹ (R) Lowest earner – total remuneration 66 000³ Lowest earner - total remuneration 191 1814 Highest earner - total remuneration 38 901 89 Highest earner - tot
Slide 30: FY27 focus areas
FY27 focus areas 11 Implement the FY27 – FY29 Oversee fair pay & Review the effectiveness Strengthen executive and remuneration policy & pay equity, including of incentive schemes, leadership succession, monitor its effectiveness on monitoring the including assessing the with particular emphasis an
Slide 31: FY27 focus - Board demographics
FY27 focus - Board demographics 11 30 June 2025 31 December 2026 post Norbert’s departure WOM - 1 WOM - 2 MEN - 7 MEN - 8 22% 89% EN EN 11% 78% 5 4 3 3 1 1 1 0 ACI Women White Women ACI Men White Men ACI Women White Women ACI Men White Men V&A Waterfront, Cape Town 31
Slide 32: FY28 STI Policy changes
FY28 STI Policy changes 12 The following changes align our variable remuneration arrangements with market practice, following Vasdex’s review and recommendations and with Bowmans’ agreement: » New share award methodology using 30-day VWAP » No share price adjustment for future dividends » Dividend e
Slide 33: FY28 LTI Policy changes
FY28 LTI Policy changes 12 Following Vasdex’s review and recommendations, and with Bowmans’ agreement, the following changes simplify our variable remuneration arrangements, improve transparency, align with actual dividend payments and general market practice: » 100% vesting after three years » Remo
Slide 34: AGM resolutions
AGM resolutions 13 Regulatory changes Remuneration resolutions Other resolutions Following the commencement of Statutory remuneration disclosure & All other resolutions remain standard, sections 5 and 6 of the Companies approval requirements & require with no changes from the prior year Amendment Ac
Slide 35: AGM resolutions
AGM resolutions 13 1: ORDINARY RESOLUTIONS 1. Election and Re-election of Non-executive Directors who are to retire at the meeting and hold themselves available for re-election 1. Mrs N Khan (Election) 2. Mr R Gasant (Re-election) 3. Dr AH Sangqu (Re-election) 2. Election of Audit Committee members
Slide 36: AGM resolutions
AGM resolutions 13 1: ORDINARY RESOLUTIONS continued 6. To place the unissued authorised ordinary shares of the company under the control of the Directors, limited to 10% of the number of shares in issue (2025: 10%) 7. Specific and exclusive authority to issue ordinary shares to afford shareholders
Slide 37: AGM resolutions
AGM resolutions 13 2: SPECIAL RESOLUTIONS 1. Approval of Non-executive Directors’ fees for financial year ending 30 June 2027 (average 5.0% increase (2025: 5.0%)) 2. Financial assistance in terms of section 44 of the Companies Act 3. Financial assistance in terms of section 45 of the Companies Act 4
Slide 38: Thank you
Thank you Arterial Industrial Estate, Blackheath, Belville
Growthpoint Properties — Shareholder Meeting (October 2026) on 6ix