Presented by:

Property & Asset Management Limited

27/03/2013

• Year end Results – Highlights

• Projects and Market Overview

• Prospects and Developments

FINANCIALS:

Revenue growth up at 44%

Profit from operations up 5%

Investment and property portfolio up by 22%, stands at P750 million

–4/8/2013

ABRIDGED GROUP STATEMENT OF

COMPREHENSIVE INCOME

Revenue

Operating expenses

Other operating income

Net foreign exchange (losses)/gains

Profit from operations before fair value adjustments

Surplus arising on revaluation of properties

Profit from operations

Net finance costs

Profit before tax

Income tax expense

Profit for the year from continuing operations

Discontinued operations

Profit from discontinued operations

Profit for the year

Other comprehensive income

Exchange differences on translation of foreign operations

Total comprehensive income for the year

Total comprehensive income for the year attributable to:

Owners of the company

Non-controlling interest

Earnings per linked unit (thebe)

Total distribution (thebe)

2012

P’000

47,203

(16,860)

225

(55)

30,513

107,312

137,825

(15,598)

122,227

(15,792)

106,435

-

106,435

(243)

106,192

68,511

37,681

106,192

205.37

38,27

2011

P’000

(Restated)

32,711

(10,646)

830

1,582

24,477

106,368

130,845

( 3,337)

127,508

(6,460)

121,048

62

121,110

(239)

120,871

112,936

7,935

120,871

340.92

43.54

44%

5%

(4%)

(12%)

ABRIDGED GROUP STATEMENT OF FINANCIAL POSITION

Assets

Property, plant and equipment

Intangible asset

Investment properties

Rental receivable - straight line rental adjustment

Investments

Deferred tax asset

Current assets

Assets classified as held for sale

Total Assets

Equity and Liabilities

Equity attributable to the owners of the company

Non-controlling interests

Long term borrowings

Deferred tax liabilities

Current liabilities

Liabilities directly associated with assets classified as held for sale

Total Equity and Liabilities

31-Dec-2012

P’000

22,172

1,000

720,974

3,897

1,980

2,231

23,584

26,400

802,238

354,331

129,863

238,167

26,011

53,866

-

802,238

31-Dec 2011

P’000

(Restated)

311,188

1,000

294,305

6,131

2,152

1,583

21,521

27,270

665,150

293,199

82,941

236,051

11,918

40,644

397

665,150

1 Jan-2011

P’000

(Restated)

246,877

1,000

213,937

5,376

2,323

471

19,655

2,400

492,039

191,018

70,036

187,724

10,108

32,175

978

492,039

GROSS INCOME

P47.20m – 44% increase (2011– P32.71m)

PROFIT FROM OPERATIONS

P137.83m - 5% Increase (2011- P130,84m)-at the back of a property revaluation surplus of P107,31m (2011: P106,37m)

PROFIT BEFORE TAXATION

P122,23m - 4% decrease (2011- P127,51m)-due to an increase in net finance costs

PROFIT AFTER TAXATION

P106.44m -12% decrease (2011- P121.05m) –as a result of an increase in the income tax expense due to the adoption of IAS 12 (Amended)-Income Taxes by the Group

INVESTMENT PORTFOLIO

P750.02m - 22% increase (2011 – P614.78m)-Masa Centre fair valued at P403.78m

LONG TERM BORROWINGS

P238.17m – 0.9% increase. (2011– P236.05m)-stands at 32% of the investment portfolio (2011: 38%)

DISTRIBUTION TO UNIT HOLDERS

Total distribution 38.27 thebe per linked unit (2011: 43.54 thebe per linked unit), a decrease of 12%

STOCK MARKET STATISTICS

Share price at P6.95 - decrease of 4.01% ( 2011– P7.24)

Dividend yield is 5.51% compared to 6.00% in 2011

Share Price as at 24 March 2013 P6.85 Linked Units in issue at period end 35,357,487 (2011: 34,544,029)

NAV / Share valued at P 10.02 UP 22% ( 2011 – P8.49)

NAV – adjusted for deferred taxation P10.69 up 21.61% ( 2011 – P8.79)

Return on Equity (ROE) -22%

STOCK MARKET STATISTICS – A VERY UNDERVALUED SHARE

20% 21%

15%

41%

22%

27%

17% 22% 19%

17%

RETURN ON EQUITY

RDC AVG OTHER STOCKS - PROPERTY

2009 2008

2011 2010

2012

RDC AVG 24% OTHER COUNTERS – AVG 18%

3.38

5.30 4.66

9.08

5.50

P/E - 31/12/2012

1.44

0.95

1.33

0.71

1.21

1

NAV / SHARE PRICE

RDC PRIMETIME TURNSTAR NAP LETLOTLE

The worldwide crisis is yet to be over and the effects, even if not as hard as compared to ones in the developed countries, are also hitting the SADC region and Botswana

That notwithstanding the resilience of the real estate market in Botswana is high and it is confirmed by the large number of developments within the Capital City and the Country confirming the Investor’s confidence.

Rail Park, Sebele Centre and Airport Junction, are the new noticeable Malls in town and

are a clear sign of an increasing demand for Retail Space and healthy economy.

Within the new CBD quite a large number of developments, eminently Office Space,

have reached or are close to reach completion with few of the corporate companies relocating their head offices. This is instrumental for the CBD to become the Business Hub of Gaborone and confirms the CBD as a prime location.

As a result of the large offering of Office Space on the market, the rental trend is temporary on a down term for all the locations which are not felt to be prime.

The request for Industrial Space is strong along with an ever growing demand for Residential for the middle income earners also a clear sign of overall confidence in the economy.

RDC PROPERTIES LIMITED

HIGHLIGHTS of the year 2012

Lansmore Hotel has positioned it self as the best Business Hotel in town according to the enthusiastic feedbacks posted in TripAdvisor.

Masa Square is perceived as the place to be for the educated youth and executives of Gaborone and an increasing number of Patrons is choosing it as the place for their evenings and special events (Facebook, Twitter)

The 3D Movie Theatres (NCC) are pulling a solid amount of foot traffic complementing the

now very well established restaurants in the piazza, Ribs & Rumps, Cappello and Sgotti’s. The feedbacks from the Cinema experience are enthusiastic (Facebook, Twitter)

The Office space is increasingly getting attention from Blue Chip Tenants, eminently new

foreigner business entering Botswana and well established Companies looking for their own banner within the CBD and Masa

Few of the Shops in the retail gallery are now well known in town and are attracting returning patrons eager to enjoy exclusive products and their services.

We can proudly say that Masa Centre the 1st Mixed Use development in

Botswana has now lift off.

We proudly record the sale of Plaza to BPOPF (will reflect in 2013 accounts)

Significant leases at Masa Centre- Lansmore Hotel, American Embassy, New Capital Cinema, Giescke & Devrient, Restaurants (Capello, Ribs & Rumps), Mascom

Banc ABC commits to one of subsidiary owned premises, Lotsane Complex in Palapye

The Brazilian Embassy renews its lease with RDC Properties for another 5 years

• CEREMONIAL OPENING

The Ceremonial Opening of the Centre on the 30th October 2012 certainly marked

the beginning of a new dawn as the name of the Centre suggests.

The Centre was established to be the “first of its kind” convenient place to meet, do

business, shop, play, relax, wine and dine!

The event was a great success and was graced by the presence of dignitaries from

the Government, Diplomatic and Business community at large as well as some

International dignitaries invited by Lansmore Masa Square Hotel.

Feedback on Ceremonial Opening

“This was an event not to be forgotten”

“Wow, Wow and Wow, Well done to the team

for an awesome evening, it was perfect in every way ”

“The opening was certainly a grand affair”

“The dancers on the wall were the highlight of the event”

Ceremonial Opening

The political crisis in Madagascar and the world wide economic downturn are unfortunately still effecting on the number of tourists coming to the region.

The performance of Isalo Rock Lodge in Madagascar continued to be influenced by the political situation in the country but it is anticipated that with the elections in 2013, the outlook will improve.

Thanks to the quality of the Lodge and of the product offer the 2013, a very attentive and careful management of the fixed and variable costs, the Lodge is expected to achieve break-even during 2013.

We are still receiving positive and encouraging report from our clientele via our golden book and via Tripadvisor.com which ranks Isalo with a remarkable 5 full moons, i.e. the maximum rate achievable.

Comments are spanning from the sustainability of the Lodge design in terms of it being eco-friendly, to the quality of the finishes and furniture, to the exceptional position and view on the rock park, to the food and the quality of the service, the live music entertainment and so on.

Isalo Rock Lodge is widely recognized as the best Lodge in southern Madagascar and gets an increasing media coverage on the local broadcasts.

The Preliminary Feasibility Study has been finalized and approved by the RDC Board

The kick-off meeting with the Project Team took place on the 7th of March 2013

The Consultant’s Team has been fully appointed by PAM and they are currently finalizing all the pre-tendering activities and documents

The Project attained Planning Approval and the Building Approval is expected any time after the Easter Break.

The Tender Documents are expected to be completed in May and the award to be finalized at the beginning of June.

THANK YOU